Page 40 - Aathira Varier

Ujjivan SFB Q1 FY25 results: Net profit declines 7% to Rs 301 crore

The deposits grew by 22 per cent YoY to Rs 32,514 crore

Net credit card additions down to 2 mn due to seasonal, regulatory factors

Card spend flat at Rs 4.79 trillion but likely to pick up in coming quarters

Federal Bank Q1 results: Net profit increases 18% to Rs 1,010 crore

Net interest income (NII) improved 19 per cent year-on-year to Rs 1,919 crore while other income increased by 25 per cent to Rs 915 crore

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

Irdai directs Care Health to buy back shares allotted to Rashmi Saluja

Irdai has directed Care Health to cancel and revoke stock options to Saluja which remain unexercised and also ensure that no further grant and/or allotment of options are made to Saluja

Budget 2024 proposes lower TDS for insurance commission, bonus payment

'Rationalisation of TDS from 5% to 2% for payment of insurance commission to individual agents will ensure additional income in the hands of such individuals for payments made by the insurers'

ICICI Prudential Life Q1 results: Net profit rises 8.9% to Rs 225.4 crore

The expenses of the company rose by 32.8 per cent to Rs 198.53 crore in the quarter under review as compared to Rs 149.47 crore in Q1 FY24

Sustaining good times: CEA Nageswaran for more gap between NPA cycles

Advises financial sector to resist temptation to pursue short-term profits at expense of customer

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

Outward remittances fell 16% in May due to increase in TCS: RBI bulletin

Remittances under the scheme stood at $2.42 billion in May 2024

Irdai imposes penalty of Rs 2 crore on Bajaj Finance, Aegon Life Insurance

Bajaj Finance said that the decision does not have any material impact on its financial, operational, or other activities, the company said in an exchange filing

HDFC Life's Q1 FY25 results: Net profit rises 15% to Rs 479 crore

The company is looking to raise Rs 2,000 crore in non-convertible debentures to shore up its solvency

LIC regains market in new business premium; private peers cede ground

LIC's market share had peaked at 68.25 per cent in Q3FY23 and gradually declined over subsequent quarters

Top private life insurance firms hike term policy premium by 4-7%

HDFC Life, Bajaj Allianz Life, ICICI Prudential Life, Max Life increase by 4-7%

Non-life insurance companies report 13.7% growth in premiums in Q1 FY25

Non-life insurers include general insurance companies, standalone health insurance companies, and specialised PSU insurers

HDFC Ergo General Insurance processes its first claim on NHCX platform

NHCX is a single-window interface developed by the National Health Authority (NHA). It provides a secure platform and efficient exchange of health insurance claims data

Q1 FY25 business update of banks: Deposits grew slower than loans

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

Higher share of Ulips likely to weigh on life insurers' profit margin

Non-life firms to post strong premium growth, benefit from low claims ratio

RBI approves Govind Singh's re-appointment as MD & CEO of Utkarsh SFB

The present term of Govind Singh is up to September 20, 2024. The board of the SFB had approved his re-appointment in the meeting held on January 27, 2024

Life insurance companies' new business premium up nearly 23% in Q1FY25

LIC leads with 28% growth in Q1; private players grow 14.6%