Page 107 - Banking Sector

Canara Bank posts 28% fall in net profit at Rs 444 crore for Sept quarter

On a proforma basis, the bank had posted a net profit of Rs 616 crore in second quarter ended September 2019

State Bank of India raises $1 billion from JBIC, other Japanese lenders

JBIC is a policy-based financial institution, wholly-owned by the Japanese government.

HDFC Bank under Aditya Puri: From a start-up to an industry leader

The bank's bad loan net of provisions has been under 0.5% of its assets for a decade now, despite a 10x jump in its assets and 8x in its net interest income.

Looking at the canary: Do SBI Cards' bad loans have a deeper meaning?

If Covid-19 causes a fresh havoc to government-bank finances, it could be back to the old story of large-scale losses prompting further capital infusion by the government, writes T N Ninan

UCO Bank reports Rs 30-crore net profit in Q2, brings down bad loans

Interest income fell to Rs 3,614.61 crore during the quarter, compared with Rs 3,804.64 crore in the year-ago period.

Indian Bank posts Rs 412 cr net profit in Q2 on fee income, lower bad loans

State-run Indian Bank on Thursday reported a standalone profit after tax of Rs 412 crore in the quarter ended September, helped mainly by fee income, treasury profits and lower bad loans.

Bank of Maharashtra Q2 profit up 13% to Rs 130 cr on higher interest income

Net interest margin stood at 2.62 per cent for the quarter as against 2.77 per cent in the year-ago quarter.

India must not neglect bank recap despite pandemic: Viral Acharya

Funds to provide for the losses that would be incurred through restructuring should be set aside so that banks do not strangle growth

Next set of asset quality woes for lenders to come from MSME segment

Gross NPAs at 12.8 per cent in June are up 140 bps year-on-year, marking the sharpest surge across asset pools

Westpac Banking to cut more than 150 jobs as bank exits China, India

Westpac will consolidate its overseas operations into three hubs -- Singapore, London and New York -- and institutional banking services will also be streamlined, Westpac said

Govt appoints Dinesh Kumar Khara as SBI chairman for three years

Khara, one of the bank's four managing directors, replaces Rajnish Kumar, who is stepping down after being at the helm for three years.

SBI biz at 80% of pre-Covid level, says new chairman Dinesh Kumar Khara

Khara's appointment as chairman of SBI was made official by the ministry of finance on Tuesday

We can quickly come back to pre-Covid levels, says SBI's Rajnish Kumar

The morale of the staff and courage shown by those working in SBI have not been allowed to go down, said Kumar

How faster deposit growth could become counterproductive for banks

Should deposit growth continue to outpace credit growth, banks may end up ceding some hard-earned 25-50 bps improvement in profitability or net interest margin gained in the past two years

Make officials well-versed in local languages, FM Sitharaman tells banks

The minister also suggested to the Indian Banks' Association to roll out a similar training exercise for their clerical staff.

After LVB, Dhanlaxmi Bank shareholders oust chief executive Sunil Gurbaxani

While Dhanlaxmi Bank faces governance issues similar to those in Lakshmi Vilas Bank, the financial profile of the Kerala-based bank is better.

SBI relocates financial inclusion to Delhi for better synergy with govt

In a bid to promote financial inclusion and better coordination with the government, State Bank of India (SBI) on Friday relocated the financial inclusion and micro market (FI&MM) division from its Mumbai corporate office to the national capital. The FI&MM division takes care of 8,000 rural and semi-urban branches catering to bottom of the pyramid segment and 64,000 customer service points (CSPs) managed by business correspondents and 58,000 ATMs. Besides, the division is responsible for running all the government-sponsored schemes, including direct benefits trasfer like PM-KISAN, in coordination with various departments and ministries. According to SBI Chairman Rajnish Kumar, the focus of the Delhi-based division will be community service, financial inclusion and running government-sponsored schemes. The new office of the vertical inaugurated by the SBI chairman will be headed by Deputy Managing Director Sanjeev Nautiyal. Earlier, the vertical was part of retail overall ...

Russia's Sberbank enters tech space; to compete with Google, FB, Amazon

The 179-year-old bank, which commands a market valuation of $67 billion and is majority-owned by the Russian government, is present in 17 other countries, including in India through branches

India Ratings maintains negative outlook on NBFCs, HFCs for H2 FY21

It has revised its outlook for tractor loans to stable for the second half of 2020-21 from negative

Covid-19: Indian banking system to be among the last to recover, says S&P

Path to recovery will be more painful and banks' recovery to long-term averages for key asset quality and profitability ratios will take years, it added