Q3 earnings assessment: Amid bettering asset high quality, the general public sector banks (PSBs) have reported a strong revenue progress of 65 per cent to Rs 29,175 crore throughout the third quarter ended December 2022, with Financial institution of Maharashtra (BoM) rising as the highest performer by way of share progress in revenue.
The Pune-headquartered lender recorded a 139 per cent bounce in revenue to Rs 775 crore on the finish of December 2022, in line with quarterly outcomes declared by the PSBs.
Financial institution of Maharashtra was adopted by Kolkata-based UCO Financial institution which posted a revenue of Rs 653 crore, 110 per cent increased than its incomes within the third quarter of the earlier fiscal.
Two different lenders whose revenue progress was increased than 100 per cent have been Union Financial institution of India and Indian Financial institution.
The Mumbai-based Union Financial institution of India witnessed a 107 per cent rise in web revenue at Rs 2,245 crore, whereas Chennai-based Indian Financial institution reported a 102 per cent improve at Rs 1,396 crore for the October-December interval of 2022.
All 12 PSBs cumulatively earned a revenue of Rs 29,175 crore within the third quarter of the present monetary yr, as towards Rs 17,729 crore in the identical interval a yr in the past, recording a bounce of 65 per cent.
For the primary 9 months of the present monetary yr, PSBs have earned a cumulative revenue of Rs 70,166 crore as in comparison with Rs 48,983 crore within the year-ago interval, a rise of 43 per cent.
The PSBs had earned a cumulative revenue of about Rs 15,306 crore within the first quarter, which elevated to Rs 25,685 crore within the September quarter and Rs 29,175 crore within the three months to December.
In share phrases, the primary quarter progress was 9 per cent over the identical interval of the earlier monetary yr, which climbed to 50 per cent within the second quarter and 65 per cent in Q3.
With regard to the Capital Adequacy Ratio, BoM at 17.53 per cent was the very best amongst PSBs, adopted by Canara Financial institution at 16.72 per cent and Indian Financial institution at 15.74 per cent as on December 31, 2022.
BoM and State Financial institution of India (SBI) have been within the lowest quartile so far as gross non-performing property (NPAs) and web NPAs have been involved.
The gross NPAs — or dangerous loans — reported by BoM and SBI have been at 2.94 per cent and three.14 per cent of their whole advances, respectively, as on December 31, 2022. The online NPAs for these lenders got here all the way down to 0.47 per cent and 0.77 per cent.
With PTI Inputs