Page 25 - Banking Sector

HDFC Bank aims to reduce CD ratio, plans slower loan growth in FY25

In FY26, the bank's credit growth will be in line with system growth; in FY27, banks' credit growth to outpace system growth

Punjab & Sind Bank Q2FY25 results: Net profit grows 26% to Rs 240 cr

State-owned Punjab & Sind Bank on Saturday reported a 26 per cent rise in net profit to Rs 240 crore in the September quarter on the back of reduction in bad loans. The lender had recorded a net profit of Rs 189 crore in the same quarter a year ago. Total income increased to Rs 3,098 crore during the quarter under review from Rs 2,674 crore a year earlier, Punjab & Sind Bank said in a regulatory filing. The bank earned an interest income of Rs 2,739 crore during the quarter, compared to Rs 2,406 crore in the same period a year ago. Return on asset of the bank improved to 0.65 per cent at the end of September 2024 as against 0.52 per cent at the end second quarter of previous financial year. Asset quality of the bank improved with gross non-performing assets declining to 4.21 per cent of the gross loans by the end of September 2024 from 6.23 per cent a year ago. Similarly, net NPAs, or bad loans, eased to 1.46 per cent from 1.88 per cent at the end of the second quarter of the .

UCO Bank Q2 results: PAT up 50% at Rs 603 cr on boost in interest income

State-owned UCO Bank on Saturday posted a 50 per cent jump in net profit to Rs 603 crore in the September quarter, helped by improvement in interest income. The lender had recorded a net profit of Rs 402 crore in the same quarter a year ago. Total income increased to Rs 7,071 crore during the quarter under review from Rs 5,866 crore in the same period last year, UCO Bank said in a regulatory filing. The bank earned an interest income of Rs 6,078 crore during the quarter compared to Rs 5,219 crore in the same period a year ago. Net interest income improved to Rs 2,301 crore, from Rs 1,917 crore in the year-ago period, registering a 20 per cent growth. At the same time, Net interest margin rose to 3.10 per cent from 2.84 per cent at the end of the second quarter of the previous financial year. Commenting on quarterly numbers, UCO Bank Managing Director and CEO Ashwani Kumar said the bank expects to continue the momentum. Return on asset has improved to 0.73 per cent at the end of

RBL Bank Q2 results: PAT down 24% at Rs 223 cr on MFI exposures stress

RBL Bank on Saturday reported a 24 per cent decline in net profit in the September quarter to Rs 223 crore on asset quality challenges emanating from credit card and microlending books. The private sector lender had reported a post-tax net profit of Rs 294 crore in the year-ago period, and Rs 372 crore in the preceding June quarter. RBL Bank Chief Executive and Managing Director R Subramaniakumar told reporters that the stress in the microfinance book is due to industry-wide issues, but the same on the credit-card front, where the regulator has been flagging risks for the industry, is on account of internal aspects. A senior bank official said the lender expects the challenges on credit cards that are arising out of a transition, to take loan collections in-house from being outsourced to a partner earlier, will settle by end of the third quarter, but the same on microlending may persist longer. The fresh slippages nearly doubled to Rs 1,026 crore during the quarter, and nearly 70 p

Axis Bank Q2FY25 results: Net profit increases 18% to Rs 6,918 crore

Net interest margin drops slightly to 3.99 per cent compared to 4.05 per cent in the previous quarter, and 4.11 per cent in Q2FY24

Customer connect can help avert MUDRA loan crisis, says SBI Dy MD

In August, the Finance Minister had said that public sector banks' non-performing assets (NPA) in the MUDRA loan category stood at 3.4 per cent in FY24, compared to 4.7 per cent in FY21

Karur Vysya Bank Q2 results: Net profit up 25.13% at Rs 473.60 cr

Private sector Karur Vysya Bank on Thursday reported a 25.13 per cent rise, on its net profits for the July-September quarter at Rs 473.60 crore, a top official said. The Tamil Nadu-based bank recorded a net profits of Rs 378.45 crore during the corresponding quarter of last year. Net profits for the six-month period ending September 30, 2024, grew by 26.46 per cent, to Rs 932 crore as compared to Rs 737 crore recorded in the corresponding period of last year. Total income during the quarter under review soared to Rs 2,856.01 crore from Rs 2,335.97 crore registered in the same quarter of last financial year. "We have achieved another strong quarter of performance, guided by our three key metrics - growth, profitability and asset quality. The bank's performance indicators align with our guidance, demonstrating consistent and steady growth," the bank's Managing Director and CEO Ramesh Babu B said in a statement. The total business of the bank as on September 30, 2024, stood at Rs ..

Bank of Maharashtra Q2 results: Net profit up 44% on healthy NII growth

Expects net to cross Rs 5,000 cr for Fy25

NBFCs raise Rs 3.23 trn in H1FY25 from domestic debt capital market

Private sector NBFCs raise Rs 1.91 trillion in H1FY25

MFI CreditAccess reports rise in stress in Q2; collection efficiency dips

The collection efficiency, including arrears, declined to 96.2 per cent in Q2 FY25 from 97.9 per cent in Q1 FY25

Banks should avoid long-term, high-risk lending: FM Nirmala Sitharaman

Indian regulators are doing a world class job, Sitharaman said

Q2 result preview: Bank PAT growth may slow to 10% on margin pressure

Moderating credit growth, rising deposit cost likely to weigh on net interest income

Bank credit offtake and deposit mobilisation moderates in H1: RBI data

The RBI data showed YTD growth in deposits was 5 per cent for H1FY25 as against 6.9 per cent for H1FY24

Banks record a higher deposit growth rate in Q2 FY25 than Q1 FY25

Four out of five banks have recorded growth at least 2-3 per cent higher than the pace seen in the quarter ended June 2024

YES Bank's CASA ratio improves in Q2 FY25, loan book grows over 13%

Mumbai-based lender's overall deposit growth better than other commercial banks

RBI's Mibor committee backs benchmark based on secured money market

The Committee noted that banks in India are increasingly linking their personal, retail, and MSME loans to the policy repo rate, with a growing share of advances tied to this rate

Smart plans and rising use-cases drive small UPI companies' growth

Smaller players on the UPI leaderboard, such as Navi, Groww, and MobiKwik, have shown remarkable year-on-year (Y-o-Y) growth

Credit card spending growth declines on RBI gaze, stress build-up

In FY24, credit card spending grew by 27.8 per cent; in FY23, spending was up 47.5 per cent; and it was 54.1 per cent in FY22

IndusInd Bank board okays re-appointment of Kathpalia as MD & CEO for 3 yrs

Re-appointment is subject to RBI and shareholder approval

Organised gold loans offered by banks, NBFCs may top Rs 10 trn by FY25

The gold loan segment has expanded at a compound annual growth rate (CAGR) of 25 per cent between FY20 and FY24, Icra said