These Three Banks Report Divergence In Non-Performing Assets, More To Follow

UCOBank reported a divergence in provisions for FY 19 at Rs 1390 crore.

Within days of market regulator asking the listed PSU banks to report divergence in NPAs as estimated by them and RBI instantly to the bourses, three banks — Indian Bank, Union Bank and UCO Bank have performed so and extra might comply with swimsuit.

SBI had on Thursday directed all listed lenders to make disclosures on divergences and provisioning inside a day of receipt of the RBI’s last danger evaluation report (RAR).

Indian Bank in a disclosure to BSE mentioned “in compliance to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI circular of 31.10.2019, we enclose the report of divergence in asset classification and provisioning for NPAs as per Risk Assessment Report (RAR) of RBI for the year 2018-19.”

The Gross NPAs as on March, 2019 as reported by Indian Bank was Rs 13,353 crore whereas RBI assessed it as Rs 13,537 crore resulting in a divergence of Rs 184 crore. There was divergence in Net NPA additionally however it was larger reported by the financial institution at RS 6,793 crore whereas RBI estimated it as Rs 5,973 crore leading to the next web NPA of Rs 820 crore by the Bank on books.

There was provisioning divergence naturally the place RBI mentioned provisioning is Rs 7,135 crore will financial institution put Rs 6,131 crore leading to divergence of Rs 1,004 crore. Divergence in provisioning led to adjusted notional web loss for the the 12 months ended March 31, 2019 is now at Rs 333 crore as per RBI towards the online revenue of Rs 321 crore as reported by Bank after the deferred tax assest or DTA.

UCO Bank reported a divergence in provisions for FY 19 at Rs 1390 crore. Its gross NPA divergence at Rs 1,217 crore and Net NPA divergence at Rs 165 crore the place the financial institution has estimated larger web NPA than RBI. There was naturally divergence in provisions for FY 19 at Rs 1,390 crore.

The fiscal 2019 precise loss was Rs 4,321 crore by Bank estimates whereas with adjustments in provisioning the loss got here to Rs 5,225 crore as per RBI. Union Bank of India has too reported a divergence within the reporting of web NPAs at Rs 998.70 crore for FY19. Its divergence within the reporting of gross NPAs stood at Rs 589 crore.

Private sector Lakshmi Vilas Bank (LVB) has additionally reported its web NPA divergence to the tune of Rs 54.9 crore within the final fiscal.

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