"It is for basically strengthening our provision coverage ratio, from 51 per cent a year ago it has increased to 54.75 per cent now", Canara Bank MD and CEO Rakesh Sharma told reporters here.
The bank is still awaiting a report on divergence on NPAs from the RBI, which will give a clear picture on the bank's actual NPA position.
The banks standalone net dipped 33 per cent to Rs 2,058 crore in the reporting quarter.
While total assets showed a growth of 26.7 per cent to Rs 2,37,394.1 crore, total deposits were up 23.4 per cent over previous year at Rs 1,57,989.8 crore. A Bloomberg analysts' survey forecast a net profit of Rs 2,570 crore.
The banks core net interest income grew 9 per cent to Rs 5,709 crore on a 6.3 per cent overall loan growth (including 12.8 per cent in domestic market), and a 0.14 per cent expansion in net interest margin to 3.27 per cent.
This year, during the September quarter, the bank made a gain of about ₹2,000 crore through stake-sale in ICICI Lombard General Insurance, when the latter went public recently. "For us, the report generally comes in the third quarter", she said.
Total income during July-September quarter stood at Rs 11,994.64 crore, down from Rs 12,187.12 crore in the same quarter a year ago, Canara Bank said in a BSE filing.
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Yes Bank, however, said of the total exposure under RBI's assessment, around 81 per cent has been repaid/resolved or classified as standard.
The gross NPA ratio increased to 1.44 per cent as at September 30, 2017, from 1.10 per cent as at September 30, 2016.
"The PNB has the exposure in nine accounts out of 12 stressed accounts referred to IBC and the exposure would be to the tune of Rs 12,000 crore in the nine accounts".
Even as the bank reported a 25 percent rise in its net profit to Rs 1,002 crore, YES Bank's net NPAs rose almost three-fold to Rs 1,543.26 crore in Q2FY2018 from Rs 545.31 crore in Q1FY2018. The year-on-year growth in domestic advances was 13 percent driven by healthy retail loans.
The write-offs came at Rs 2,298 crore, while the recoveries and upgrades stood at Rs 1,029 crore.
"We continue to maintain our focused approach to growth, in line with our objective of improving the portfolio mix", said Chanda Kochhar, MD & CEO, ICICI Bank, in the post-earnings interaction with the media.
After opening the day on a weak note, the stock further tumbled 9.85 percent to Rs 299 on BSE.