Central Bank of India reported a poor set of Q1 earnings as net interest income (NII) came in weak and asset quality deterioration continued for the company this quarter.
Rajeev Rishi, CMD of Central Bank said that the bank has aggressively shed bulk deposits and 55 percent of growth in deposits came from CASA.
Loss has primarily occurred on account of almost twice the provisioning that the bank did in the first quarter. This provisioning is on account of increased NPAs, almost around Rs 1,700 crore of provisions on account of NPAs.
MV Tanksale, CMD, Central Bank of India says that although the slippages in Q1 were huge, to the extent of Rs 2400 crore they expect them to come down below Rs 1000 crore in Q2.
Balrampur Chini, Reliance Communication are a miss whereas Apollo Tyres, Central Bank, Essar OIl are a hit for SP Tulsian.
Angel Broking has come with its March`13 quarterly earning estimates for banking sector. The research firm expects private banks to report healthy earnings growth of 23.0 percent yoy, however, the PSU banks with expected earnings decline of 13.1 percent yoy, would drag the overall earnings performance (de-growth of 3.2 percent yoy).
Angel Broking has come with its December`12 quarterly earning estimates for banking sector. The research firm continues to prefer private banks, given their stronger capital adequacy and growth prospects as well as cyclically better asset quality profile, with Yes Bank, Axis Bank and ICICI Bank being top picks.
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.
In an interview to CNBC-TV18 Rajiv Mehta, analyst, IIFL India shared his outlook on banking stocks. He reviewed the financial performance of stocks like Bank of Baroda and Allahabad Bank.
Vaibhav Agrawal of Angel Broking feels, Punjab National Bank (PNB), just like other public sector undertakings have reported an increase in gross and net NPAs. However, he is not worried about the rise in net NPAs, taking into consideration the bad economic environment.
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.
Public sector lender Central Bank of India posted dismal results in Q4, with a net loss of Rs 105 crore in the quarter ended March 2012. The company attributed the losses to a spike in non-performing assets (NPAs).
Angel Broking has come with its March quarterly earning estimates for banking sector.
In an interview to CNBC-TV18, Vaibhav Agrawal of Angel Broking says, the banking space would continue to see asset quality pressure in the Q3 and in the coming quarters that would accelerate.
Angel Broking has come with its quarterly earning estimates for banking sector.
The worst seems over for Indian banks. The third quarter (October-December) earnings, according to analysts tracking banks, would not spring any ugly surprise for them. However, the pressure on profitability would continue on the back of slowing down loan growth, asset quality concern and rising cost of funds.
MV Tanksale, chairman and managing director of the bank, is confident of maintaining NIM at 3% for FY12 and capping NPA at 1%.
Prabhudas Lilladher has come out with its earning estimates on banking sector for the quarter ended June 2011. According to the research firm, Central Bank of India June quarter net interest income are expected to go up by 18.2% at Rs 1322crore, year-on-year, (YoY) basis.
In an exclusive interview with CNBC-TV18’s Vidhi Godiawala, chairman of Central Bank of India, S Sridhar said that the margin performance improved on account of the drop of dependency on high costs deposits, and also owing to, “the right to re-price the loans.”
In an interview with CNBC-TV18, S Shridhar, CMD, Central Bank, spoke about the results and gives his outlook going forward.
Prabhudas Lilladher has come out with its earning estimates on banking sector for the quarter ended December 2010. According to the research firm, Central Bank of India December quarter net interest income (NII) are expected to go up by 72.3% at Rs 1258.9 crore, Year-on-Year, (Y-o-Y) basis.