Page 3 - Banking Industry

MUFG Bank expects over 25% growth in India biz; to focus on large cos

Shashank Joshi, MUFG's deputy chief executive officer and head of global corporate and investment banking in India, said the bank has an exposure of about $15 billion in India

Expecting NIMs to climb in a few quarters, says RBL Bank MD & CEO

He outlines the bank's approach to safeguarding its net interest margin (NIM), mobilising liabilities amid fierce competition for deposits, and reorganising its advances portfolio

Bank of India's Q1 net profit rises 10% to Rs 1,703 cr, NII up 6%

NII was up 6% YoY to Rs 6,275 crore in Q1FY25, compared to Rs 5,915 crore in Q1FY24, aided by robust growth in advances

SBI Q1FY25 results: Net profit rises 0.9% to Rs 17,035 cr, NII up 5.7%

NIM fell 12 bps, both sequentially and Y-o-Y basis, to 3.35 per cent

SBI Q1 results: Net profit almost flat at Rs 17,035 crore; NPA at 2.21%

State Bank of India (SBI) on Saturday reported an almost flat standalone net profit at Rs 17,035 crore for the first quarter of the current financial year. The country's biggest lender had posted a net profit of Rs 16,884 crore in the April-June quarter of 2023-24. The bank's total income increased to Rs 1,22,688 crore in the first quarter against Rs 1,08,039 crore a year ago, SBI said in a regulatory filing. During the quarter, the bank earned an interest income of Rs 1,11,526 crore compared to Rs 95,975 crore in the year-ago period. The bank's gross non-performing assets (NPA) of the total advances declined to 2.21 per cent in the first quarter from 2.76 per cent at June-end last year. Similarly, its net NPAs also eased to 0.57 per cent in June 2024 from 0.71 per cent a year ago. On a consolidated basis, SBI's net profit rose marginally to Rs 19,325 crore against Rs 18,537 crore in the same quarter of the previous fiscal. At the same time, its total income increased to Rs 1,52

Bank of Baroda to recover Rs 10K cr from bad loans in FY25, says CEO

Bank of Baroda recovered Rs 1,005 crore from bad debt in April-June, of which a major portion was small-ticket loans, the chief executive said

Why Indian banks need to be extra nice to their less tech-savvy customers

Out of 820 million active internet users last year, 370 million used the web for digital banking

Most fintech, banking apps tap into users' location, other information

Calling them "most sensitive permissions," the report on currency and finance has highlighted that fintech apps often collect personal data, potentially invading users' privacy

CSB Bank Q1 results: Net profit drops 14% to Rs 113 cr as provisions rise

The provisions for non-performing assets rose 273 per cent to Rs 20 crore from Rs 4 crore in Q1 FY24

South Indian Bank is looking to expand beyond Kerala, says MD & CEO

The bank is also shifting its focus on loan mix to micro small and medium enterprises (MSMEs) and retail, from the current bias towards corporates

RBI drafts liquidity norms, adding buffers for electronic fund transfers

The Reserve Bank of India (RBI) on Thursday released draft guidelines proposing banks to assign additional liquidity buffers for accounts having internet and mobile banking (IMB) facilities to stave off any risks during times of stress. The draft guidelines follow an announcement by Governor Shaktikanta Das in the April policy review, given the high usage of technological tools in banking that can lead to moving of funds without physically queuing up at bank branches. "While increased usage of technology has facilitated the ability to make instantaneous bank transfers and withdrawals, it has also led to a concomitant increase in risks, requiring proactive management," the draft circular amending the 2014-issued guidelines on Basel-III Framework on Liquidity Standards' Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards," said. The draft suggests banks shall assign an additional 5 per cent run-off factor for retail deposits, which are enabled

Cred launches product to track expenses, view total bank account balances

The new Cred product will be rolled out to its members in phases starting Thursday, making it one of the first fintechs to launch the offering

Axis Bank Q1FY25 results: Net profit increases 4% to Rs 6,035 crore

The bank's net interest income (NII) increased 12 per cent year-on-year (Y-o-Y) and 3 per cent sequentially to Rs 13,448 crore in Q1FY25, aided by steady growth in advances

SBI Life Q1FY25 results: Net profit increases 34% to Rs 519.5 crore

The company's new business premiums grew by 13 per cent YoY to Rs 7,030 crore in Q1FY25 against Rs 6,210 crore in the year-ago period

Indian banks' short-term debt increases to 12-year high on loan demand

Depositors in India have been saving less in banks as soaring equity markets and avenues such as mutual funds, insurance funds and pension funds lure them

Aim to reduce CD ratio as fast as possible: HDFC Bank MD & CEO Jagdishan

Bank to Prioritise Engagement and Service Over Interest Rates for Deposits

YES Bank Q1 result: Net profit rises 47% to Rs 502 cr as provisions fall

Its provisions declined by 41.2 per cent to Rs 212 crore in Q1 FY25, from Rs 360 crore in the year-ago period. Sequentially, provisions declined from Rs 471 crore in Q4 FY24

No plans to allow business houses to promote banks: RBI Governor Das

Governor Shaktikanta Das on Friday said the Reserve Bank does not have any plan to allow business houses to promote banks at present. Allowing corporate houses to promote banks exposes one to conflict of interest risks and related-party transactions, Das said, speaking at an event organized by the Financial Express here. "At this point, there is no thinking in that direction," Das said, replying to a specific query on whether there is any consideration to allow business houses. The RBI had disqualified a long list of conglomerates from floating a lender in the last round of licensing around a decade ago. The issue was revived again in 2020, with a Reserve Bank of India (RBI) working group supporting it, given the potential to get the capital for helping meet the country's growth aspirations. Underlining that banks are different from other businesses, he said experience worldover has shown potential conflicts of interest and issues relating to related-party transactions, if busines

Different faces of bank frauds

Customer education is the key to combating digital fraud, while improved credit appraisal, underwriting, and risk management can help contain loan fraud

Goldman Sachs targets $2 bn for first Asia-focused pvt equity fund

Only five China-focused private equity funds were raised in the first half this year, totalling $2.2 billion