trending Market Intelligence /marketintelligence/en/news-insights/trending/lwBztlFNBUeDHHQtssVvxg2 content esgSubNav
In This List

India's 6 largest banks see rise in FY'17 profit as provisions fall at some

Blog

Global Capital Markets & SPAC Activity – H1 2021

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration


India's 6 largest banks see rise in FY'17 profit as provisions fall at some

India's six largest banks saw a 34.4% year-over-year increase in their combined net income for the fiscal year ended March 31, as three of the six banks saw a narrowing of provisions.

Aggregate net income for State Bank of India, ICICI Bank Ltd., Bank of Baroda, Punjab National Bank, Bank of India and HDFC Bank Ltd. rose to 272.15 billion rupees from 202.44 billion rupees.

Asset write-downs at the banks rose to 1.170 trillion rupees from 971.56 billion rupees, though Bank of Baroda, Punjab National Bank and Bank of India all reported that provisions declined.

However, State Bank of India, the country's largest lender by assets, reported a 98.0% year-over-year decline in net profit for the full year, amid a surge in provisions and contingencies for the year to 612.91 billion rupees from 373.95 billion rupees. HDFC Bank and ICICI Bank, the two private sector banks among the six, also saw a rise in provisions for the year.

SNL Image

As of June 2, US$1 was equivalent to 64.26 Indian rupees.

SNL Image

Click here to analyze a bank and its peers and for country-level banking and macroeconomic data.
Click here to set real-time alerts for data-driven articles. Step 1: choose a delivery preference. Step 2: select Banking under "Data Dispatch Asia-Pacific," then click apply at the bottom of the page.