State-owned Indian Bank has recorded highest returns on assets (RoA) for the financial year ended March 2011 among the PSU banks space, according to an analysis of the annual results. It has clocked RoA of 1.53 percent for 2010-11, highest among 21 public sector banks.
Canara Bank comes next with RoA of 1.42 percent at the end of 2010-11 and Andhra Bank with 1.36 percent, according to the analysis. The country's largest lender State Bank of India (SBI) announced RoA of 0.71 percent. Bank of Maharashtra recorded the lowest RoA at 0.47 percent. During the fiscal ended March 2011, as many as 10 public sector banks had RoA of one or more than one percent while the remaining 11 lenders had less than 1 percent.
In terms of Provision Coverage Ratio (PCR), Indian Bank tops the chart with the ratio of 84.3 percent, as per the analysis. The Reserve Bank of India (RBI) has prescribed a minimum PCR of 70 percent. Andhra Bank with PCR of 83.9 percent is second in the chart followed by Delhi-based Punjab & Sind Bank with 81.8 percent. RoA is an indicator of how profitable a company is relative to its total assets. It gives an idea of the efficiency of the management in using its assets to generate earnings.
Besides, Indian Bank has reported results on consolidated basis for the quarter and the year ended March 31, 2011.
The group’s net profit after Minority Interest for the quarter ended March 31, 2011 has jumped 7.05% at Rs 438.87 crore as compared to Rs 409.96 crore for the quarter ended March 31, 2010. Total income for the quarter has increased by 23.65% at Rs 2865.80 crore as compared to Rs 2317.73 crore for the corresponding previous quarter.
For year ended March 31, 2011, the group’s net profit after Minority Interest for the year has rose 11.18% at Rs 1745.41 crore as compared to Rs 1569.81 crore for the year ended March 31, 2010. Total income for the year has increased by 16.75% at 10550.82 crore as compared to Rs 9037.31 crore for the previous year.
| Company Name | CMP |
|---|---|
| SBI | 812.50 |
| Bank Of Baroda | 240.30 |
| Canara Bank | 99.65 |
| PNB | 100.70 |
| Union Bank Of India | 116.60 |
| View more.. | |
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