NPA

Foots Rs 666 crore impairment cost bill as NPAs swell; to raise up to Rs 750 crore capital

In this quarter, we have achieved recoveries to the tune of Rs 1,064 crore, contributing to over Rs 2,700 crore in recoveries across the past three quarters, said UCO Bank MD and CEO Ashwani Kumar

Amid headwinds, the bank faces uncertainty over CEO extension

Loan portfolio of microlenders reduced by 2.3 per cent quarter-on-quarter to Rs 4.32 lakh crore in April-June while NPAs surged, a report said. Notably, for the last few months, microfinance institutions, banks and small finance banks which extend MFI loans, have been reporting challenges on this portfolio, and the regulator has also flagged the same. Over-leveraging among the borrowers is being flagged as a key aspect, impacting asset quality. The report by Crif High Mark, a credit information company said, there was 17.2 per cent increase in the borrowers having more than five active loan accounts in June when compared with the year-ago period, with highest growth seen in West Bengal and Karnataka. Nearly half of the rise in stress on an incremental basis when compared to the year-ago period came from borrowers who have five or more active loans, the company said. There was 31.2 per cent QoQ drop in the amount disbursed in the first quarter of FY25 at Rs 79,000 crore while the .

State-owned NARCL has submitted an anchor bid of Rs 300 crore for exposure, prompting a Swiss auction scheduled for October 30

This portfolio put up for sale by Phoenix ARC includes 420 secured retail accounts of Rs 186.9 crore and 560,805 unsecured retail accounts totalling Rs 3,363 crore

Bankers said these sectors stand out from the overall trend

Writes off NPAs worth Rs 71 crore in MFI biz

Some of the accounts in the list include those which went unsold in an auction in June

Sitharaman addressed questions regarding NPA associated with Mudra loans, highlighting a significant reduction in NPA rates over the past few years

"Wilful defaulters or any entity with which a wilful defaulter is associated shall not be eligible for restructuring of credit facilities," the RBI said

The RBI today held a Conference of Directors of UCBs in the Western Zone in Ahmedabad. The theme of the conference was 'Governance in UCBs - Driving Sustainable Growth and Stability'

Private sector Karur Vysya Bank has set a target of opening 100 new branches during the current financial year across the country, a top official said on Wednesday. The Tamil Nadu-based bank's 840th branch in Ayodhya was inaugurated by the bank's Chairperson Meena Hemchandra. Karur Vysya Bank Managing Director and CEO B Ramesh Babu said the bank had opened 39 branches during the current financial year and proposes to add about 100 new branches across the country during the period. In a statement, here, Babu said the bank recorded the highest-ever annual net profit of Rs 1,605 crore in the last financial year while the net Non-Performing Assets (NPA) were at 0.40 per cent as on March 31, 2024. "The bank continues its strong growth momentum, consistency in asset quality and profitability," he said. Babu along with Directors of the Bank Sarvashri K S Ravichandran, R Ramkumar and K G Mohan were present at the inauguration of the new branch in Uttar Pradesh, which is also the 35th bran

Private sector City Union Bank has reported a 17 per cent jump in its net profits at Rs 254.81 crore for the January-March 31, 2024 quarter, based on improved recovery from slippages. The Tamil Nadu-based bank had registered a net profit of Rs 218.04 crore during the corresponding quarter of last year. For the financial year ending March 31, 2024, the net profits of the bank breached the Rs 1,000 crore mark, with Rs 1,015.73 crore, up by 8 per cent from Rs 937.47 crore registered a year ago. "Improved recovery resulting in lowering provisioning helped to achieve growth in PAT," the bank said in a statement on Tuesday. The total income during the quarter under review went up to Rs 1,549.34 crore from Rs 1,423.09 crore registered in the same quarter of last year. For the financial year ending March 31, 2024, the total income surged to Rs 6,012.22 crore, as against Rs 5,524.69 crore registered a year ago. In a press release, the bank said it crossed Rs one lakh total business milest

Ujjivan SFB's gross and net NPA ratio were 2.1 per cent and 0.3 per cent in March 2024. The ratios were at 2.6 per cent and 0.4 per cent as on March 2023

The bank said that as a prudent measure and in accordance with its policy, it had technically written off loans amounting to Rs 3,852 crore

Hebbar tells that it is diversifying its loan portfolio by increasing the share of non-micro loans and the liability book by raising funds internationally

Public sector Indian Overseas Bank has made concerted efforts for a reduction in Non-Performing Accounts and has adopted a multi-pronged approach to ensure a maximum recovery from such accounts. The measures taken by the city-headquartered bank have yielded a decline in Gross NPA to 3.90 per cent as of December 31, 2023, from 11.69 per cent recorded as of March 31, 2021, the bank said in a statement here. To sustain and bolster this momentum, the bank has published a sale notification that pertains to the sale of 92 NPA loans, aggregating to an outstanding due of Rs 13,471.68 crore. "Indian Overseas Bank in its concerted efforts towards reduction of NPA has embraced a multi-pronged approach to ensure maximum recovery in NPA accounts. IOB has diligently implemented timely recovery measures including Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) actions, Compromise Settlement Schemes, and sale to Asset Reconstruction Companies,"

Baldev Prakash, is quite reasonably a happy man. Prime Minister Narendra Modi too recently praised the turnaround due to government efforts

All public sector banks in India showed a reduction in non-performing asset levels over the last six months while only 67 per cent of private sector banks reported a decline during the period, said a FICCI-IBA Bankers' survey released on Thursday. The survey revealed that 77 per cent of the respondent banks reported a decrease in the NPA levels in the last six months, with public sector banks reporting better asset quality as compared to their private sector counterparts. The 18th round of the FICCI-IBA Bankers' survey was carried out for the period July to December 2023. A total of 23 banks, including public sector, private sector and foreign banks, participated in the survey. These banks together represent about 77 per cent of the banking industry, as classified by asset size. Over half of the banks covered in the FICCI-IBA Bankers' unveiled on Thursday believe that gross non-performing assets would be in the range of 3-3.5 per cent over the next six months. "All responding publi