Bank

ADB to devote half of its annual lending to climate finance by 2030

The new strategy comes nearly a year after ADB approved reforms to unlock $100 billion in new financing capacity over a decade, meeting a mandate from U.S. Treasury Secretary Janet Yellen

Bank holidays in July 2024: Banks to remain closed for 12 days; check list

According to the RBI list, banks will remain closed for 12 days in July, including second and fourth Saturdays and Sundays. Check the full list of bank holidays in July here

Jammu and Kashmir Bank Q1 net profit nearly doubles to Rs 326 crore

Jammu and Kashmir Bank on Monday reported a 96 per cent jump in net profit at Rs 326 crore in the June quarter, aided by decline in bad loans. The Srinagar-based lender had posted a net profit of Rs 166 crore in the year-ago period. The Union Territory of Jammu and Kashmir holds 63.41 per cent stake in the bank. Total income in the first quarter of the current fiscal rose to Rs 2,885 crore from Rs 2,306 crore in the same period a year ago, J&K Bank said in a regulatory filing. Interest earned by the bank improved to Rs 2,657 crore as against Rs 2,103 crore in June 2022. The bank's asset quality showed an improvement as gross non-performing assets (NPAs) declined to 5.77 per cent of gross advances at the end of the June quarter, from 9.09 per cent a year ago. Similarly, net NPAs, or bad loans, declined to 1.39 per cent, as against 3.02 per cent in the year-ago period. As a result, provision for bad loans came down to Rs 56 crore, as against Rs 135 crore allocated in the same ...

TMS Ep394: Car sales in India, BCI's new rule, OMC stocks, G-SIBs

Are car sales moving to the slow lane? How will BCI's new rule change Indian legal landscape? Is it the right time to buy OMC stocks? What are Global Systemically Important Banks? Answers here

Slippages will gradually dip every quarter: PNB chief Atul Kumar Goel

In a Q&A, the lender's MD & CEO says the bank's NPA ratio could improve further as it doesn't have any large loan that needs to be regarded as bad

RBI okays appointment of sitting YES Bank exec Rajan Pental as ED

Pental, who has been with YES Bank since November 2015, will continue to head retail banking; he is also non-executive director at YES Securities

Indian banks to continue raising funds via debt market in Jan-Mar: Analysts

Indian state-run and private banks raised an aggregate of 611.94 billion rupees ($7.39 billion) in October-December, more than double the 301.34 billion rupees raised in July-September

Bank of India's Q1 profit declines 22% to Rs 561 cr as provisions rise

Fall in non-interest income, rise in bad loan provisions drag down company's net

PSBs back on growth path as India's economic recovery gains traction

While the impetus to double-digit credit growth was from wholesale lending, retail credit growth continued to be robust

Moody's upgrades ICICI Bank, Axis Bank's baseline credit assessments

Affirms Baa3 deposit ratings of both Indian private sector lenders; outlook on ratings for both banks, where applicable, remains stable

Banks could shine in Q4 earnings season

While brokerages expect Q4 earnings of Nifty50 companies to hit record peak levels, the march is expected to be driven by banks and financials. Let's dive into the Street expecting from Q4 results

TCS signs a 5-year IT transformation deal with German bank NORD/LB

TCS will work to simplify and transform bank's application estate across businesses-financial markets, wholesale and retail banking

Depositors of PMC, other banks to benefit from DICGC Bill: FM Sitharaman

We want to make sure within 90 days depositors get the money so that small depositors who make up 98% of all depositors will get their money in time, she said

How the debtor creditor equation is affecting banks

Banks' ability and/or willingness to lend to persons or entities that needed credit were hampered

ICRA estimates MTM loss of Rs 155 billion for banks

Banks need to value their trading portfolio in sync with the market rate

Banks' loans rose 5.1% in two weeks to March 31: RBI

Bank deposits rose 2.63 trillion rupees to 108.05 trillion rupees in the two weeks to March 31

Good banks and a bad bank

The infrastructure sector continues to reel under the 'twin balance sheet' issue

Analysts cautious on top 3 private banks

Weakening growth in loans or credit, continued stress on asset quality and cuts in lending rates have impacted profitability at banks, both in the private and public sector. Public sector banks' (PSBs') problems are more structural and will resolve only when they become self-sustained, especially the mid and smaller ones. Large private banks seem to be faltering on a key strength, their hitherto healthy pre-provisioning operating profits. Growth in this metric has been coming down over the past two quarters for most of the large ones (see table). While the drop in the latest, December, quarter could be attributed partly to demonetisation and to slower economic growth, this weakness started in the June 2016 quarter, even earlier in some cases. Not a good sign for investors. Higher pre-provisioning operating profit provides a cushion to earnings, even amid stress on asset quality, as the bank can use part of these for higher provisions for bad loans. This was a key reason why most ...

Constable suspended for hitting people in queue outside bank

The incident took place on Tuesday when the woman arrived at the bank to get her currency notes exchanged

Found in bank queue missing lover receives thrashing

The man was admitted to local hospital for treatment, says Senior Inspector