For a sample of 29 publicly listed banks, provision for non-performing assets (NPAs) declined by 2.9% to Rs. 27,318.2 crores. For PSBs, it fell by 11.6% to Rs. 14,628.3 crore, half of which recorded a year-on-year decline in loan loss provisions. PSBs including Punjab National Bank, Central Bank of India and Indian Overseas Bank reported 82-93% reduction in NPA provision.
On the other hand, private sector banks increased their NPA provision by 12.5% for the quarter led by select banks including ICICI Bank, Axis Bank, Kotak Bank, IDBI Bank and Federal Bank to Rs. 12,690 crore was shown.
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Three out of every four private sector banks reported a year-on-year increase in their NPA provision. As a result, their share in the quarterly NPA provision rose to 46.5% from 41.2% a year ago and 42.1% in the previous quarter.
On the revenue front, private sector banks fared better than PSBs. Net Interest Income (NII) of the total sample grew by 6.5% YoY to Rs. 1,98,668 crore, led by private banks’ total NII of Rs. 96,122.7 crore has grown by 11.3%. NII for PSBs increased by a modest 2.4% to Rs. 1,02,545 crores.
Each of the 17 private sector banks and 10 out of 12 PSBs in the sample reported year-on-year growth in NII in the September quarter. Private banks’ share of the sample’s NII rose to 48.4% from 46.3% in the year-ago quarter and 47.6% in the previous quarter.
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