Page 109 - Banking Sector

Swiss banking major UBS appoints Uday Odedra as new country head for India

Swiss banking major UBS on Monday announced the elevation of Uday Odedra as the country head of its India operations, which employ over 6,700 people. It has created a new post of chairman for India and made Harald Egger, who holds the post at present, as the chairman, as per an official statement. Odedra has been with the bank for two decades and was based in London before joining the founding team of the India operations in 2015, it said. It can be noted that a lot of banks and financial institutions of the world have their in-house global delivery centres in the country delivering work and handling processes here. UBS-Business Solution Centers employs over 6,700 people in Pune, Mumbai and Hyderabad, and provides services toUBSbusinesses globally, the bank's statement said. The UBS statement said Odedra played a central role in developingits digital and technology presence in India and he was also named head of technology for the Asia Pacific region in 2017. Egger will relocate

Reserve Bank again postpones submission of TLTRO reversal requests

The rates have come down by more than 100 basis between these two points.

Credit Suisse cuts stance on IT, healthcare; turns bullish on banks

In June, the brokerage had turned bullish on IT citing low P/E

The post-lockdown scars

As economic indicators and tax receipts improve, evidence of stress begin to appear too

Banks told to credit 'interest on interest' to borrowers, RBI tells SC

Banks, financial and non-banking financial institutions have been asked to take "necessary actions" to credit into the accounts of eligible borrowers by November 5, RBI has told the Supreme Court.

Best of BS Opinion: J&K 'integral' reforms, insolvency process, and more

Here's a selection of Business Standard opinion pieces for the day

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