INDIAN OVERSEAS BANK
Loss
is due to provisions and not due to operations
Performance Highlights For The Quarter Ended March
31, 2018 - YoY
(1) Total
businessstood
atRs. 3,67,831 crore as on 31stMarch2018 as against Rs. 3,68,119crore
as on 31st March 2017.
(2) Total
depositsincreased
to Rs. 2,16,832crore as on 31stMarch 2018 as against Rs. 2,11,343crore
as on 31stMarch 2017. The
Bank has reduced the concentration of Bulk Deposits and increased Retail Term
Deposits to have a stable deposit profile and reduce the cost of funds.
(3) CASA
of the Bank improved to 36.75% as on
31st March 2018 as against 36.09% as on 31st March 2017. Total CASA has
increased from Rs. 76269 crores as on 31.03.2017 to Rs.79678crores as on 31.03.2018,SB
registered 5.35% YoY growth as at 31st March ‘18 over 31st
March ‘17.
(4) Gross
Advances
stood at Rs.1,50,999 crore as on 31st March 2018 as against Rs. 1,56,776 crore as on 31stMarch 2017. The Bank has
rebalanced the credit portfolio with RAM’s (Retail, Agri and MSME) share of
total domestic advances improving from 58.74% to 64.82% YoY (March ’18 over March ’17).
(5) MSME Segmentgrew by 6.71% YoY (March ’18
over March ‘17).
(6) Retail Segment grew
by 17.98% YoY (March ’18 over March ’17).
(7) Core Retail Advances (Housing
Loans, Vehicle Loans, Clean Loans, Education Loans, Mortgage Loans) grew by
26.26% YoY.
(8) Priority Sector Lending as
a % of ANBC as on 31.03.2018 is 47.47% as against the requirement of 40%.
Agriculture as a % of ANBC as on 31.03.2018 is
20.23% as against the requirement of 18%.
(9) Operating
Profitfor Quarter ended 31st March 2018
stood at Rs.1129.15crore
as against Rs. 1040.98 crore for the quarter ended 31st March 2017,
registering growth of 8.47%
(10) Net Profit: Net Loss for the quarter
ended 31stMarch 2018 is Rs. 3606.73crore as against Rs. 646.66 crore
for the quarter ended 31st March 2017mainly due to
provisioning requirements including higher provisions on account of RBI
guidelines on revised framework on Resolution of Stressed Assets. Pursuant to
the revised framework, the Bank has classified the specific restructured
accounts in accordance with extant IRAC norms and made a provision of Rs.799.37
crores towards such accounts during the current quarter.
(11) Total
income for the quarter ended 31st March 2018 is Rs.5814crore as against Rs.5662crore
for the quarter ended 31stMarch 2017 registering a growth of 2.68%
YoY.
(12) Interest
income stood at Rs.4828 crore for the
quarter ended 31st March 2018 as against Rs. 4630 crore for the quarter ended 31st
March 2017 registering a growth of 4.28% YoY.
(13) Non-interest
income is
Rs. 987 crore for the quarter ended
31st March 2018 as against Rs. 1032 crore for the quarter ended 31stMarch 2017.
31st March 2018 as against Rs. 1032 crore for the quarter ended 31stMarch 2017.
(14) Total
Expenditureincreasedfrom
Rs. 4621 crore for the quarter ended 31st March 2017 to Rs. 4685
crore for the quarter ended 31st March 2018.
(15) NPA MANAGEMENT: Gross NPA as at 31st March 2018 is at Rs.38180crore
with ratio of 25.28% as against Rs.35098
crore with ratio of 22.39% as on 31stMarch 2017, with the fresh
slippage due to revised frameworkof stressed asset of Rs. 3629 crore.
(16) Total recovery of
Rs. 5726 crore achieved for quarter ended March ’18as against the recovery of
Rs.2729 crore during quarter ended March ‘17 while the total slippage for
quarter ended March ’18stood at Rs. 9868 crore mainly on account of the impact
of RBI guidelines on revised framework on Resolution of Stressed Assets.Pursuant
to the revised framework, the Bank has classified the specific restructured
accounts in accordance with extant IRAC norms.
(17) Net
NPA is at
Rs. 20400crore with ratio of 15.33 % as on 31st March 2018 as against Rs. 19749
crore with ratio of13.99% as on 31st March 2017.
(18) Provision Coverage Ratiois
improved to 59.45% as on 31st March 2018 as against 53.63% as on 31st March 2017.
Performance Highlights For The Quarter Ended March
31, 2018 QoQ (Sequential)
(1)
Total business
stood at Rs. 3,67,831 croreas on 31stMarch 2018 as against Rs. 3,68,128
crore as on 31st December
2017.
(2) Total
deposits
stood at Rs. 2,16,832crore as on 31st March 2018 as against Rs. 2,16,592crore
as on 31st December 2017.
(3) CASA
of the Bank has
improved to 36.75% as on 31st March 2018 as against 35.33% as on 31st December 2017.
(4) Gross
Advancesstood
at Rs.1,50,999crore as on 31stMarch 2018 as against Rs. 1,51,536 crore
as on 31st December 2017.
(5) Operating
Profitfor Quarter ended 31stMarch 2018 stood at Rs.1129.15crore as
against Rs.684.77 crore for the quarter ended 31st December 2017,
registering a growth of 65.90%
(6) Net
Profit: Net loss
for quarter ended 31stMarch 2018is
Rs.3606.73crore as against Rs. 971.17 crore for quarter ended 31st December 2017, mainly due to NPA
provisioning of Rs 3155.20 crore additionally.
Net
loss is due to provisionsincluding higher provisions on account of RBI
guidelines on revised framework on Resolution of Stressed Assets. Pursuant to
the revised framework, the Bank has classified the specific restructured
accounts in accordance with extant IRAC norms and made a provision of Rs.799.37
Crores towards such accounts during the current quarter.
(7)
Total income for the quarter ended 31stMarch 2018 is Rs.5814 crore
as against Rs.5062 crore for the quarter ended 31st December 2017
registering a growth of 14.86% QoQ.
(8)
Interest income stood at Rs. 4828crore for the quarter ended 31stMarch
2018 as against Rs. 4255crore for the quarter ended 31st December
2017 registering a growth of 13.46% QoQ.
(9) Non-interest
income is Rs. 987crore for the quarter ended
31stMarch 2018 as against Rs. 808crore for the quarter ended 31st December 2017 registering a growth of 22.18% QoQ.
31stMarch 2018 as against Rs. 808crore for the quarter ended 31st December 2017 registering a growth of 22.18% QoQ.
(10)
NPA MANAGEMENT: Gross NPA
as at 31stMarch 2018 is at Rs. 38180 crore with ratio of25.28% as
against Rs. 33267crore with ratio of 21.95% as on 31st December 2017.
(11) Total recovery of
Rs. 5726 crore achieved for quarter ended March ’18 as against the recovery of
Rs. 3021crore during quarter ended December ’17 while the total slippage for
quarter ended March ’18stood at Rs. 9868 crore as against Rs. 1432crore for
quarter ended December ’17. The fresh slippage increased due to compliance of
RBI guidelines on revised framework for stressed assets.
(12)
Net NPAstood at Rs.20400
crore with ratio of 15.33% as on 31stMarch 2018 as against Rs. 17761
crore with ratio of 13.08% as on 31st December 2017.
(13) Provision
Coverage Ratiois improved to59.45% as on
31stMarch 2018as against57.83% as on 31st December 2017.
31stMarch 2018as against57.83% as on 31st December 2017.
Performance
Highlights for the Financial Year ended March
31, 2018
(1) Operating
Profitfor the
year ended 31.03.2018 is Rs.3628.08
crore as against Rs.3650.20 crore for the year ended 31.03.2017.
(2) Net
Profit: Net lossfor
the year ended 31.03.2018is
Rs.6299.49 crore as against Rs.3416.74crore for the year ended 31.03.2017, mainly due to increase in provision by Rs. 2937 crore.
Rs.6299.49 crore as against Rs.3416.74crore for the year ended 31.03.2017, mainly due to increase in provision by Rs. 2937 crore.
(3) Total
income for the
year ended 31.03.2018 is Rs. 21662crore as againstRs.23091 crore for the
previous year (2016-17) on account of less treasury income and contraction of
credit.
(4) Interest
income stood
at Rs.17915 crore for the year ended 31.03.2018 as against Rs. 19719 crore for
the previous year (2016-17), mainly due
to additional slippage.
(5) Non Interest Income: Non-interest income is Rs. 3746crore for the year
ended 31.03.2018 as against Rs.3373 crore for the previous year (2016-17)
registering a growth of 11.08%.
(6) Total Expenditure declined by
7.24% from Rs. 19441 crore for the year ended 31st March 2017 to Rs.
18033 crore for the year ended 31st March 2018.
(7) Recovery
in NPA accounts
for the year ended 31.03.2018 is significantly higher at Rs. 15496 crore as
against Rs.8710crore for the year ended 31.03.2017.
Ø CAPITAL ADEQUACY RATIO
(CRAR):
Particulars
|
Basel III
|
Regulatory Requirement
|
CET 1
|
6.39%
|
5.50%
|
CCB in CET1
|
0.89%
|
1.875%
|
Tier I
|
7.17%
|
7.00%
|
Tier II
|
2.09%
|
2.00%
|
Total
|
9.25%
|
9.00%
|
CCB in CRAR
|
0.25%
|
1.875%
|
Ø KEY FINANCIAL RATIOS:
·
Credit
Deposit Ratiois69.64%
as on 31.03.2018
·
Average Cost of Depositis 5.49%for the year ended31.03.2018
as against 6.17% for the year ended 31.03.2017.
·
Average Yield on Advancesis 7.50% for the year ended
31.03.2018.
·
Cost
to Income Ratiois60.61%
for the year ended 31.03.2018.
·
Net Interest Marginis 2.73% for the quarter
ended 31.03.2018 and 2.19% for the year ended 31.03.2018, mainly due to
increase in other interest income.
Ø
CAPITAL
INFUSION BY GOVERNMENT OF INDIA
During the
quarter ended 31.03.2018, the Bank has received an aggregate sum of Rs. 4694
crore as capital infusion by the Government of India for 2017-18as
part of the Recapitalisation Plan for Public Sector Banks for which the Bank
has allotted203,82,11,029 equity shares of Rs.10/- each for cash at
Issue Price of Rs.23.03 per equity share (including premium of Rs.13.03 per
equity share) aggregating to Rs.4694 crore on preferential basis, to Government of India. GOI’s shareholding has increased
to 89.74%.
Ø RATINGS OUTLOOK UPGRADE
ü
International
Credit Rating Agency, Moody’s Investors Service, Singapore has revised their
rating outlook on our Bank and our Hongkong Branch to “POSITIVE” from “STABLE” (09.02.2018)
ü CRISIL Limited has
revised its outlook on the long term debt instruments of Indian Overseas Bank
(IOB) to ‘STABLE’ from ‘NEGATIVE’, while reaffirming the ratings at CRISIL
A+/A-/FAA. The rating on the certificates of deposits programme of the bank has
been reaffirmed at ’CRISIL A1+’.
(25.01.2018)
Ø
DIGITAL
BANKING INITIATIVES:
Indian Overseas Bank, has
always been a pioneer in launching various digital products and
schemes that benefit customers the most along with utmost convenience.
The
following are some of the latest Digital Initiatives:
v
IOB Nanban is a mobile app launched for
the benefit of our customers for performing non-financial transactions.
Customers can download the app from Google playstore.
o
Branch
Locator
o
ATM
Locator
o
CDM
Locator
o
Products
and Services
o
Facebook
chat bot link
o
Balance
Enquiry of the following accounts
§
Savings
§
Current
§
Deposit
§
Loan
o
Cheque
status
o
Stop
Cheque
v
IOB Sahayak, a mobile app for our Staff
has been releasedby our bank. The following features are available currently.
-
NPA
Recovery Visit
-
NPA
War
-
Security
Inspection Visit
-
Viewing
Internal Circulars
-
Lead
Generation
-
Reminder
Service
This app will
be a comprehensive app for staff to improve productivity.
v
Bharat Bill Payment System
(BBPS) is an
integrated bill payment system introduced by National Payments Corporation of
India (NPCI), offering interoperable online bill payment service to customers.
IOB Customers can now pay the following through BBPS system using Internet
banking and Mobile banking.
-
Electricity
-
Telecom
-
DTH
-
Water
and
-
Gas
payments
There
are two modes of integration.
Ø
Customer
Operating unit
Ø
Biller
Operating unit
Tamilnadu
Electricity Board has been made ONLINE as the Bank’s FIRST Biller in BBPS.
Indian
Overseas Bank is the FIRST Public Sector Bank to Go LIVE as a Biller Operating
unit in BBPS.
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