It will weed out fraudulent borrowers and self-help group members, they say
Private lender Bandhan Bank on Friday reported a 42 per cent decline in its net profit for the third quarter of the current financial year at Rs 426 crore as compared to Rs 733 crore in the year-ago period. Lender's MD and CEO Partha Pratim Sengupta said that the drop in net profit was primarily due to a change in accounting procedure and an additional provision of Rs 336 crore for loans, which turned bad, during the October-December quarter. He said accounting for the Employee Stock Option Scheme (ESOP) also impacted the net profit to the tune of Rs 166 crore. Sengupta told reporters that the bank has drawn up a strategy for its next phase of growth. He said the strategy is "to be more secular in its approach as a large contribution is coming from the microfinance sector which is facing challenges. More stress will be given on liability products and digital banking". The bank's net revenue during the third quarter of the current fiscal stood at Rs 3,926 crore as compared to Rs 3,
Private sector Tamilnad Mercantile Bank Ltd has reported a net profit of Rs 300.24 crore for the October-December 2024 quarter, up by 6 per cent, driven by continued growth in core lending and deposit businesses, a top official said on Wednesday. The Tuticorin-based bank had registered a net profit of Rs 284.23 crore during the corresponding quarter of last financial year. The net profit for the nine month period ending December 31, 2024 went up to Rs 890.71 crore, from Rs 818.97 crore registered in the year ago period. The total income during the quarter under review went up to Rs 1,519.94 crore from Rs 1,387.13 crore registered in the year ago period. For the nine month period ending December 31, 2024 the total income grew to Rs 4,599.69 crore as against Rs 4,075.24 crore registered in the corresponding period of last financial year. "We have achieved year-on-year growth of 6 per cent in net profit in Q3FY25, driven by continued growth in our core lending and deposit businesses. W
Private sector Karur Vysya Bank has inaugurated two more branches, taking the overall branch network to 475 in Tamil Nadu, the bank said on Sunday. The Tamil Nadu-based bank inaugurated two branches, one each in Chennai and the other at Tiruchirappalli. According to a press release, during the current financial year, the company has added 28 new branches, taking the overall presence of the banking network to 866 across the country. The new branches would provide basic banking transactions and would also address the specific needs of customers. It would also provide banking and financial services covering retail, institutional and consumer lending. As on September 30, 2024, the bank's total business stood at Rs 1,76,138 crore with a deposit base of Rs 95,839 crore and advances at Rs 80,299 crore. In the last financial year, the bank recorded its highest net profit of Rs 1,605 crore, the release added.
The fall in the IndusInd Bank share price came after Zurich, Switzerland-based brokerage UBS slashed its target price to Rs 1,150 per share, according to reports
Top executives from private sector banks were in a conversation with Tamal Bandopadhyay at the Business Standard BFSI Insight Summit 2024
JC Flowers seeks counter bids to sell Rs 1,290 cr of erstwhile Yes Bank loans
If someone is nearing default, they must act quickly to avoid it, as recovery from default takes time
Country's largest private sector has indicated that it would grow its advances at a slower pace than deposits
Das asked banks to use their branches effectively to mobilise deposits, highlighting the importance of brick-and-mortar structures
Over century-old private sector Tamilnad Mercantile Bank has recorded a 9.97 per cent rise in its net profit for the April-June 2024 quarter at Rs 287.29 crore on account of rise in interest income. The Tamil Nadu-based bank had registered a net profit of Rs 261.23 crore during the corresponding quarter of last year. For the financial year ending March 31, 2024 the net profit stood at Rs 1,072.03 crore. Total income during the April-June 2024 quarter went up to Rs 1,046.03 crore from Rs 942.98 crore registered in the year ago period. For the financial year ending March 31, 2024 the total income stood at Rs 5,492.85 crore. According to a press release, the bank's deposits rose to Rs 49,188 crore during the April-June 2024 quarter, from Rs 47,008 crore registered in the same quarter of last year. The advances of the bank has increased to Rs 40,853 crore with a growth of 10 per cent year-on-year basis. The Net Interest Income stood at Rs 567 crore for the April-June 2024 quarter, a
A senior executive of a private bank, which has a small exposure to the airline, said voting for the proposal is through and the airline will be recommended for liquidation soon
The asset quality of the lender remained stable, with its gross non-performing assets (NPAs) ratio at 2.15% at the end of Q1FY25 compared to 2.16% in Q4FY24, and net NPA ratio at 0.43%
Private sector lender RBL Bank on Saturday reported a 29 per cent jump in net profit to Rs 372 crore for the June quarter. The bank's core net interest income grew 20 per cent to 1,700 crore on the back of a 19 per cent rise in advances. Its net interest margin was 5.67 per cent. The other income grew 18 per cent to Rs 805 crore. The bank's deposit growth came at 18 per cent during the quarter and was attributed to the differentiated offerings by its managing director and chief executive R Subramaniakumar. The incremental deposit growth will be able to meet the incremental advance growth for the bank going forward, he said. On the advances front, the bank will focus on secured retail products like business loans and housing loans going forward, he said, adding that the two cumulatively grew by 19 per cent, while housing rose 52 per cent and rural vehicle surged 74 per cent. From an asset quality perspective, it witnessed higher stress with the net slippages in the credit card ...
80 per cent haircut for lenders if offer accepted
Moody's outlook revision was on expectation of a gradual improvement in YES Bank's depositor base and lending franchise, which will help improve its core profitability over the next 12-18 months.
Bank of Baroda posted faster growth in advances than in deposits. The loan book of the BoB grew by 1.73 per cent while deposits improved by 1.59 per cent, sequentially
Despite a near 5 per cent rally in HDFC Bank, the derivatives data shows tepid buildup in open interest; options data indicate strong resistance likely in the Rs 1,820 - Rs 1,835 range this July.
The stock hit a high of Rs 1,734.90 in intra-day deals on Tuesday, and was seen inching towards its record high of Rs 1,757.80 touched on July 3, 2023.
'Figment of imagination; completely baseless and misleading,' says ICICI Bank about report that Sandeep Bakhshi wants to leave