Axis Bank Ltd. will increase staff salaries between 4% and 12% from Oct. 1 based on performance, according to people with knowledge of the plans
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He was quick to add that we are not completely out of the woods yet and a sustained recovery may take a few quarters
With 72 per cent gains in six months, the stock is an outperformer in the pack; monthly premium numbers don't provide comfort
The stock of ICICI Bank has witnessed a decent correction recently and has maintained the support zone near 360 levels
Like major banks - State Bank of India, Axis Bank, and IndusInd Bank, top auto brands such as Maruti Suzuki, Bajaj Auto, and Hero MotoCorp have suffered significant losses
In addition, there's also growing stress in the bank's SME (small and medium enterprise) loans, a segment which was fast growing until FY20
Morgan Stanley believes the banks could provide aggressively for bad loans (unlike the banking system) and accelerate the pace of loan market share gains as the economy stabilizes
Indian private banks have had a decade of strong growth, reflected in much higher loan CAGR of 19.6%
Impact of rising bad loans may become discernible only in the second half of FY21. This may hurt asset quality and earnings growth, particularly of small and medium-sized banks
Top bank executives attempted to shed the tag of being risk-averse and averred that viable businesses would get the red carpet from lenders
Hopes of improvement in asset quality, better credit growth and lower valuations are supporting factors
August Futures and Options (F&O) series, which ended on August 27, saw strong participation from banking sector underlying optimism in the space
Short-term trend of the stock is positive
The bankers were responding to RBI governor Shaktikanta Das's statement that banks risked their own growth by being "extremely risk averse"
All that happened in the markets today
Axis Bank had initially planned to raise its stake in the insurer to 30 per cent for about Rs 1,590 crore
Axis Bank, which already holds a minority stake in Max Life, will own an 18% interest in the insurer after the deal
Axis Bank has plans to employ nearly 1,000 people under its new hiring initiative 'Gig-a-Opportunities', a model devised to attract skilled talent that can work with the bank remotely
ICICI Bank Ltd., Axis Bank Ltd. and mortgage lender HDFC Ltd. have raised a combined Rs 350 billion ($4.7 billion) this month