State-run Banks

J&K Bank on Saturday reported a 27 per cent rise in net profit to Rs 415 crore in the April-June quarter of 2024-25 compared to the year-ago period. The bank had posted a net profit of Rs 326 crore in the April-June period of the previous year. Total income in the first quarter of the current fiscal rose to Rs 3,188 crore as against Rs 2,885 crore, J&K Bank said in a filing. The lender's interest income also increased to Rs 2,994 crore from Rs 2,657 crore in the same quarter a year ago. The bank's net interest income (NII) grew by 7 per cent to Rs 1,369 crore in the first quarter of current financial year. The gross Non-Performing Assets (NPAs) declined to 3.91 per cent of the gross advances by June 2024 from 5.77 per cent in the same quarter a year ago. The net NPA too declined to 0.76 per cent as against 1.39 per cent in the same period of the previous year. The capital adequacy ratio of the bank improved to 15.07 per cent at the end of June compared to 14.83 per cent in the

As on March 31, 2024, the company's gross non-performing assets (NPA) were 3.95 per cent of gross advances, compared to 5.95 per cent during the same period in 2023

Rating agency expects credit growth and profitability to moderate in the sector

The government expects to receive at least Rs 15,000 crore ($1.8 billion) in dividends from state banks in 2024/25, up 8.7% or more from an expected Rs 13,800 crore in the current fiscal year

They added that the recommendation was currently under review with the NFRA, a regulator that oversees auditing, which will submit its views to a panel of top regulators

"This move has literally ended mutual fund investments in such papers, making fundraising more difficult," a trader with a private bank said

A bank licence for industrial houses looks unlikely; the IWG itself had referred to concerns over connected lending and exposure between banks and other financial and non-financial group entitie

The People's Bank of China didn't immediately respond to a request seeking a comment

The government has instructed public sector banks (PSBs) to focus on written-off loans, a senior official said

While there is still a large talent pool in state-run banks, the reality is that it may not walk in as in the past

In the Union Budget for FY22, no funds were earmarked for recapitalising state-run banks. This was a decadal first, and will temper their eagerness to lend

PSBs will also launch digital-only goods, services in the upcoming year with minimal data entry requirements, automated checks, and underwriting for consumers

60% of such claims are from state-owned banks and other creditors, shows data on company's website

The National Commission observed that when a locker is broken into, it constitutes a breach of the promised assurance of safety, and is hence, a deficiency in service

Will review progress made by PSBs on various schemes today

State-owned Jammu & Kashmir Bank on Tuesday reported a more than two-fold rise in its net profit at Rs 174.81 crore for the quarter ended December 2021 on the back of a significant drop in its provisioning requirement. The bank had posted net profit of Rs 66.37 crore in the same quarter a year ago, and Rs 111.60 crore in the preceding quarter ended September 2021. Total income during Q3 FY22, however, was down at Rs 2,178.57 crore as against Rs 2,349.81 crore in Q3FY21, J&K Bank said in a regulatory filing. It also fell sequentially from Rs 2,203.36 crore in the September quarter of this fiscal. Interest income during the quarter fell to Rs 2,019.77 crore as against Rs 2,076.37 crore. The lender's provisioning for bad loans and contingencies for the quarter came down significantly to Rs 8.22 crore, as against Rs 457.61 crore it had put aside in the year-ago period. As of December 31, 2021, the government of Jammu & Kashmir held 70.12 per cent stake in the bank. Provision ..

The bank, which came out of the RBI's prompt corrective action (PCA) framework in September 2021, is aiming the net profit to touch around Rs 1,600 crore in the current financial year

State Bank of India is the country's largest bank

The advisory issued by the DFS states that the promotion process has coincided with a spike in Covid-19 cases across the country along with localised lockdowns

The truth is - falling market share of state-run banks is not something many will want to comment on record