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Andhra Bank's MD & CEO Suresh Patel says large accounts particularly in the construction and iron and steel are major contributors to slippages.
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In an interview with CNBC-TV18, Andhra Bank MD and CEO Suresh N Patel said the bank had fully complied with the Reserve Bank of India's asset quality review guidelines that had called for stricter provisioning of doubtful accounts.
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SP Tulsian in an interview to CNBC-TV18 shared his fundamental view on stocks that posted earnings like TVS Motors, ICICI Bank, MRF, CCL and others.
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The bank is aiming for below 5 percent gross non-performing asset by year end and also maintain its net interest margin at 3 percent year on year, SK Kalra, Executive Director, Andhra Bank told CNBC-TV18.
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In an interview with CNBC-TV18‘s Latha Venkatesh, Andhra Bank CMD CVR Rajendran discussed the bank‘s fourth quarter earnings.
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In an interview to CNBC-TV18, CVR Rajendran, chairman & managing director, Andhra Bank shares his view on the bank‘s Q3 numbers and his outlook for the upcoming quarters.
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Andhra Bank has registered a more than four-fold jump in its net profit at Rs 201.71 crore in the third quarter ended December 2014, on higher interest income. In an interview to CNBC-TV18, CMD CVR Rajendran discusses on the numbers and the road ahead.
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Discussing the company results, CVR Rajendran, CMD, Andhra Bank, said he expects asset quality to improve substantially in H2 and recovery from agri loan waiver in the next 2 quarters.
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BA Prabhakar, CMD of Andhra Bank told CNBC-TV18 that he is expecting Q2 slippages to be less than Q1 as he sees recoveries in some of the big accounts.
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Emkay Equity Advisory expects Andhra Bank to report a 6.3 percent degrowth quarter-on-quarter (degrowth of 10.7 percent year-on-year) in net profit at Rs 323.1 crore.
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KR Choksey expects Andhra Bank to report a 4 percent growth quarter-on-quarter (degrowth of 1 percent year-on-year) in net profit at Rs 358 crore.
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Kotak Securities expects Andhra Bank to report a 19 percent degrowth quarter-on-quarter (degrowth of 22.9 percent year-on-year) in net profit at Rs 278.9 crore.
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Public sector lender Andhra Bank is set announce its fourth quarter (January-March) numbers on Thursday. According to the average of the CNBC-TV18 poll, the bank is expected to continue to disappoint on all parameters in March quarter as well.
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Kotak Securities has come with its March`13 quarterly earning estimates for banking & NBFCS sector. The research firm expects fresh slippages to remain stable QoQ with positive bias for banks under their coverage.
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Motilal Oswal has come with its March`13 quarterly earning estimates for financial sector. The research firm expects reforms and monetary easing to continue, thereby growth is expected to revive gradually.
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Motilal Oswal has come with its December`12 quarterly earning estimates for banking sector. The research firm expects RBI to start cutting interest rates from 4QFY13.
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Motilal Oswal has come with its September quarterly earning estimates for Financials sector. According to the research firm, banking coverage universe is expected to report healthy PAT growth of 19% YoY, largely driven by 23% YoY profit growth from private sector banks.
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Emkay Global Financial Services has come with its September quarterly earning estimates for Banking and Financial Services sector. According to the research firm, top picks for the quarterly results - HDFC Bank, ICICI Bank and United bank in banking space. Mahindra Finance and CRISIL are our top picks in NBFC space.
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Dolat Capital has come with its September`12 quarterly earning estimates for financial sector. According to the research firm banks‘ asset quality would remain under stress particularly for state-owned banks.
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Angel Broking has come with its September`12 quarterly earning estimates for banking sector. According to the research firm banking stocks remained under stress on increased asset quality concerns.
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All listed companies will declare their results for the quarter ending September 30, 2012. In an interview to CNBC-TV18, Vaibhav Agrawal of Angel Broking speaks about his expectations from the banking sector.
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Dolat Capital has come with its June quarterly earning estimates for banking sector. According to the research firm, banks are likely to post 27% YoY growth in PAT for Q1FY13.
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Angel Broking has come out with its June quarterly earning estimates for banking sector. The research firm expects margins to come under pressure in 1HFY2013.
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Emkay Global Financial Services has come with its June quarterly earning estimates for Banking and Financial Services sector. According to the research firm, lower NII growth is expected to be driven by sluggish advance growth and 5-15 bps contraction in NIMs led by decline in yield on assets and cost pressures.
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In an interview to CNBC-TV18, Rajiv Mehta, banking analyst of IIFL India, gives his views on Bank of Baroda's, Allahabad Bank's and Andhra Bank's fourth quarter results and outlook going forward.
