Page 4 - Banking

Next HDFC CEO's 1st task: A new team amid exits of veteran executives

HDFC Bank faces a major leadership transition as several senior executives prepare to exit, with incoming MD & CEO Anup Bagchi tasked with rebuilding the bank's top management team.

Banks weigh income impact of Irdai's proposed insurance commission caps

Banks are exploring higher policy sales and changes in product mix to offset potential fee income losses, while RBL Bank estimates a 50-60% decline in bancassurance income

Leaving behind a resilient HDFC Bank franchise, says outgoing CEO Jagdishan

Incoming CEO Anup Bagchi says his long-term goal is to deliver sustainable value for shareholders, employees and clients, while focusing on disciplined growth and governance

IDBI Bank staff to hold two-day hunger strike against proposed Fairfax sale

Employees will stage a nationwide hunger strike on November 2-3, demanding that the government halt the proposed sale to Fairfax and retain majority ownership of IDBI Bank

Indian Bank raises FY27 growth guidance, pegs ECL impact at ₹3,500 crore

The public sector lender expects advances to grow 13-14% and deposits 11-12% in FY27, while setting aside Rs 2,500 crore so far towards the expected credit loss framework.

IDBI Bank sale to Fairfax: FinMin cites 2003 law, Delhi HC judgment

The Cabinet has approved the sale of a 60.72% stake in IDBI Bank to Canada's Fairfax Financial Holdings for about ₹53,000 crore, citing the 2003 law and a 2018 Delhi High Court ruling

Festival demand already picking up: Canara Bank CEO Brajesh Kumar Singh

Brajesh Kumar Singh says treasury and forex income should improve, while the bank aims to raise ₹8,500 crore in capital this fiscal

Fairfax Financial to retain Sharma as IDBI CEO, names Kannan chairman

Fairfax proposes N S Kannan as IDBI Bank chairman, retains Rakesh Sharma as CEO and expects to close its $5.6 billion acquisition as early as the first quarter of 2027

Global investors firm India BFSI bets with over $20 bn in deals since 2025

Major investments by Fairfax, MUFG, SMBC and Emirates NBD lead a wave of foreign capital commitments across India's banking, NBFC and insurance sectors amid regulatory reforms and strong credit demand

RBI approves amalgamation of Emirates NBD's Indian branches with RBL Bank

The amalgamation will take effect on December 1, 2026, following Emirates NBD's acquisition of a 60 per cent stake in RBL Bank through a Rs 26,000 crore capital infusion

Punjab National Bank Q2 results: Net profit rises 13% to ₹5,532 crore

Punjab National Bank (PNB) reported a 13% rise in net profit to ₹5,532 crore for the second quarter ended September 2026, according to a regulatory filing.

Global digital payments to double by 2030 as new instruments gain ground

Capgemini's World Payments Report 2027 says non-cash transactions have grown nearly fivefold over the past decade, with instant payments, e-money and digital currencies reshaping global commerce

IDBI Bank sale likely to close by fiscal end after RBI nod: Dipam secy

Dipam Secretary Arunish Chawla said the successful bidder must secure RBI clearance before signing the share purchase agreement, after which it will have to make an open offer to minority shareholders

Maintained complete integrity for IDBI privatisation: Dipam secy Chawla

DIPAM Secretary Arunish Chawla discusses the ₹52,878 crore IDBI Bank stake sale, Fairfax's RBI clearance, disinvestment plans, capital receipts and the government's dividend outlook.

Indian Bank Q2 profit grows 14% to ₹3,540 cr as asset quality improves

Indian Bank's consolidated net profit rose 14% to ₹3,540 crore in Q2FY27, while gross NPAs declined to 1.61% and deposits grew 12.5% year-on-year to ₹8.74 trillion

Act as trustees of public money: HDFC Bank CEO-designate Anup Bagchi

HDFC Bank's incoming MD and CEO Anup Bagchi urged finance professionals to prioritise society over personal ambitions, uphold public trust and build careers on integrity

Bank deposits surge on FCNR inflows, but margin pressure looms for lenders

HDFC Bank, ICICI Bank and Axis Bank raised over $127 bn through the FCNR(B) deposit scheme, with analysts expecting margins to improve from October to December

Fairfax Financial plans to merge Digit, IIFL Capital with IDBI Bank

Fairfax plans to combine IDBI Bank, Digit Insurance and IIFL Capital Services into an integrated financial services entity, subject to regulatory approvals

SC decision could impact Yes Bank's capital, weigh on profitability

Supreme Court ruling on the ₹8,415-crore AT-1 bond write-off could reduce Yes Bank's net worth by up to 26% and its CET-1 ratio to 10%, according to Anand Rathi's analysis

Higher mutual fund yields lift ICICI Prudential AMC's Q2FY27 earnings

ICICI Prudential AMC posted 18% revenue growth in Q2FY27 on higher mutual fund yields, while net profit rose 6% and equity market share declined amid competition