Small Finance Bank

Strong loan growth for small finance banks in Q1FY25, Casa declines

The deposits of the SFBs posted a double-digit increase from the quarter ended in June 2024. Deposits of Equitas SFB grew by 35.40 per cent, Capital SFB by 10 per cent, and Suryoday SFB by 42 per cent

North East SFB to increase fixed deposit rate by 50 bps to 9.25%

The SFB is in the process of merging with fintech Slice to augment its capital base

WestBridge Capital sells 1.7% stake in AU Small Fin Bank for Rs 845 cr

Private equity firm WestBridge Capital divested on Wednesday a 1.7 per cent stake in the AU Small Finance Bank for Rs 845 crore through an open market transaction. WestBridge Capital, through its affiliate Westbridge AIF I, sold shares of the Jaipur-based AU Small Finance Bank through a bulk deal on the National Stock Exchange (NSE). As per data available, Westbridge AIF I offloaded 1.30 crore shares, amounting to a 1.75 per cent stake in AU Small Finance Bank. The shares were disposed of at an average price of Rs 650.08 apiece, taking the transaction value to Rs 845.10 crore. After the stake sale, the shareholding of WestBridge Capital in the AU Small Finance Bank has declined to 2.07 per cent from 3.82 per cent. Meanwhile, Goldman Sachs Investments Mauritius I picked up 43.34 lakh shares of the AU Small Finance Bank at an average price of Rs 650 per piece. This took the deal value to Rs 281.71 crore. Details of other buyers of the AU Small Finance Bank shares could not be ...

ESAF SFB to discontinue business correspondent services of ESMACO

Absorb 5,000 plus employees of BC on its rolls

Street Signs: Navigating market rapids, IPO Street set to sparkle, and more

The grey market premiums (GMPs) for the three initial public offerings (IPOs) that open this week range between 20 per cent and 55 per cent

Jana SFB may apply for universal bank licence in next financial year

Last week, the Reserve Bank of India spelt out a glide path for SFBs to convert into universal banks.

FD for senior citizens: Here are the best rates, but should you invest?

Small Finance Banks offer the highest interest rates to senior citizens on fixed deposits

Fino Payments Bank applies for SFB license after board's agreement

According to the guidelines, payments banks were allowed to apply for a conversion into SFB post five years of operations along with meeting other guidelines mandated by the RBI

ESAF Small Finance Bank IPO subscribed 1.74 times on first day of offer

The initial public offer of ESAF Small Finance Bank got subscribed by 1.74 times on the first day of subscription on Friday. The Rs 463-crore initial share sale received bids for 10,02,26,500 shares against 5,77,28,408 shares on offer, as per NSE data. The category for non institutional investors got subscribed 2.44 times while the quota for Retail Individual Investors (RIIs) received 1.97 times subscription. The portion for Qualified Institutional Buyers (QIBs) was subscribed 90 per cent. The Initial Public Offering (IPO) has a fresh issue aggregating up to Rs 390.7 crore and offer for sale (OFS) of up to Rs 72.3 crore. The IPO will conclude on November 7. Those selling shares in the OFS are promoter ESAF Financial Holdings Private Ltd, and other shareholders -- PNB MetLife India Insurance Company Ltd and Bajaj Allianz Life Insurance Company Ltd. Proceeds of the fresh issue will be utilised to augment the bank's Tier-1 capital base. Price range for the offer is at Rs 57-60 a ..

BS BFSI Summit: SFB chiefs call for building services to become universal

At BS BFSI Summit 2023, Ittira Davis, MD and chief executive officer (CEO) of Ujjivan Small Finance Bank, said, there is a roadmap right now indicating the eligibility to become universal banks

SFBs can turn into universal banks, say experts at BS BFSI Summit 2023

There is nothing to stop our firm from turning into a Universal Bank, said Ittira Davis, managing director and chief executive officer of Ujjivan Small Finance Bank

Small finance banks see double-digit growth in advances & deposits in Q2

Equitas Small Finance Bank witnessed a healthy 37 per cent increase in advances to Rs 31,231 crore, whereas deposits rose 42 per cent to Rs 30,839 crore

A 'Slice' of lifeline: Fintech firm to infuse capital in North East SFB

To merge Fintech for capital infusion in the bank, lower promoter stake

Fintechs can act both as competitors and collaborators: T Rabi Sankar

He said regulators also draw comfort in these arrangements as traditional financial entities- banks, NBFCs which are well regulated will continue to discharge the basic responsibility

Will look at reverse merger if viable to shareholders: Utkarsh SFB MD & CEO

'During the last six years, we have created new verticals like MSME, affordable housing, and small corporates'

Fino Payments looking to upgrade to small finance bank, says MD Gupta

Fino Payments Bank is keen to become a small finance bank after having completed five years of operations, Managing Director Rishi Gupta said. The Navi Mumbai-based company is a subsidiary of Fino Paytech, which is backed by marquee investors such as Bharat Petroleum, ICICI Group, Blackstone, IFC, Intel and LIC, among others. The company started operations in July 2017 with 410 branches to become the fourth payments bank after Airtel Payments Bank, India Post Payments Bank and Paytm Payments Bank. Fino, which was a remittance service provider, has converted most of its Fino Money Mart outlets into bank branches after getting licence from the Reserve Bank. Also, Fino is the only lender in this space being traded on the exchanges. "From regulatory and compliance perspectives we are eligible for an upgrade to a small finance bank, having completed the mandatory five years of operations. Our board also favours such a conversion and soon we'll be moving an application with the RBI in t

Sebi returns draft papers of BVG India, Fincare Small Finance Bank

Markets regulator Sebi has returned the preliminary IPO papers of two companies -- BVG India and Fincare Small Finance Bank India. Integrated services company BVG India Ltd had filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in September 2021 to raise funds through an initial public offering (IPO). The firm's proposed IPO comprises fresh issue of equity shares worth up to Rs 200 crore and an offer-for-sale (OFS) of up to 71,96,214 shares by promoters and private equity investor 3i Group. In another update on Sebi's website, the markets watchdog has returned the draft papers of Fincare Small Finance Bank. Last year in August, the company had refiled its preliminary papers with markets regulator to raise funds through IPO as Sebi's one-year approval given to the lender to launch the issue expired in July. Under the rules, a firm gets one year to hit the primary market after receiving an approval from Sebi. In case a firm fails to

ESAF SFB refiling draft papers for IPO, will finish process by Dec

Issue size to smaller than earlier plan of Rs 998 crore, says company's CEO

Bank of India launches special deposit scheme; raises interest on others

Apart from the special deposit scheme, Bank of India has raised interest rate on its existing 555-days fixed deposit scheme to 6.30 per cent

'Brand Aamir' in the soup over ad controversy. Can he bounce back?

Actor facing flak for ad for AU Small Finance Bank; not new to controversy, which could affect brand value, say experts