Page 28 - Banking Sector

Will make investments in digital in FY26: Punjab & Sind Bank MD & CEO

Says the public sector bank aspires to increase its Retail, Agriculture, and MSME (RAM) lending to around 60 per cent next year

RBL Bank Q3 results: PAT drops 86% to Rs 32.63 cr amid surge in provisions

The Net Interest Income (NII) grew nearly 3 per cent Y-o-Y to Rs 1585 crore due to lower (Joint Liability Group) JLG funding and increased slippages causing interest reversals

HSBC India gets RBI approval to open 20 new branches in 20 cities

HSBC India's branches in the country will now go up to 46

FDIC sues 17 former Silicon Valley Bank executives, directors over collapse

FDIC faulted the bank's overreliance on unhedged, interest rate-sensitive long-term government bonds such as US Treasuries and mortgage-backed securities as rates looked to rise

Punjab & Sind Bank Q3FY25 results: Net profit jumps two-fold to Rs 282 cr

State-owned Punjab & Sind Bank on Wednesday reported a more than two-fold jump in its net profit to Rs 282 crore in the December 2024 quarter as bad loans declined. The Delhi-headquartered bank had earned a net profit of Rs 114 crore a year ago. The bank's total income increased to Rs 3,269 crore during the quarter under review against Rs 2,853 crore in the same period last year, Punjab & Sind Bank said in a regulatory filing. The interest income also rose to Rs 2,931 crore compared to Rs 2,491 crore in the year-ago period. On the asset quality front, gross non-performing assets (NPAs) declined to 3.83 per cent of the gross loans by the end of December 2024 from 5.70 per cent a year ago. Similarly, net NPAs or bad loans came down to 1.25 per cent from 1.80 per cent at the end of the third quarter of the previous fiscal. The Provision Coverage Ratio (including Technically Written Off) as at December 31, 2024, works out to 89.53 per cent against 88.16 per cent at the end of ...

Bank of Maharashtra Q3FY25 results: Net profit rises 36% to Rs 1,406 crore

State-owned Bank of Maharashtra (BoM) on Wednesday posted a 36 per cent rise in net profit to Rs 1,406 crore in the third quarter ended December 2024 with rising interest income. The Pune-based lender had posted a net profit of Rs 1,036 crore in the October-December period a year ago. Total income increased to Rs 7,112 crore during the quarter under review against Rs 5,851 crore in the same period previous year, BoM said in a regulatory filing. The bank earned an interest income of Rs 6,325 crore during the quarter compared to Rs 5,171 crore a year ago. The bank was able to reduce gross Non-Performing Assets (NPAs) to 1.80 per cent of the gross loans by the end of December 2024 from 2.04 per cent in the year-ago period. Similarly, net NPAs or bad loans came down to 0.2 per cent from 0.22 per cent at the end of the third quarter of the previous fiscal. The Provision Coverage Ratio (PCR) as of December 31, 2024, is 98.28 per cent. The bank has raised Rs 3,500 crore through Qualifi

Sebi issues warning to J&K Bank for delayed disclosure of MD appointment

Capital markets regulator Sebi has issued an administrative warning letter to J&K Bank for regulatory non-compliance with regard to disclosure of appointment of its MD & CEO. The disclosure was made on December 25, 2024 at 4:53 PM with a delay of 1 hour 40 minutes beyond the stipulated timeline of 24 hours from the time for occurrence of the event (RBI's approval) i.e. December 24, 2024 at 3:14 PM, Sebi's letter posted by J&K Bank on stock exchanges on Tuesday said. "The event relating to appointment of MD & CEO is considered significant because of the surge in price as well as volume movement of the bank's scrip, traded on the platform of the stock exchanges, between the date of occurrence of the event i.e. December 24, 2024 and the next trading day i.e. December 26, 2024," the letter said. The bank had made a disclosure on December 25, 2024 (trading holiday) regarding appointment of Amitava Chatterjee as Managing Director and Chief Executive Officer for a period of ..

What lies ahead for banking and financial sector in the Year of the Snake?

Will we see a new trend with the sector shedding its skin and transforming itself? Or, will the theme of the year remain continuity with change?

SBI chief pitches for institution to track funds raised by small businesses

State Bank of India chairman CS Setty on Friday pitched for the creation of a market infrastructure institution to track the end-use of funds borrowed or raised as equity by small businesses. A "viable mechanism" is needed to ensure that the funds are used for the intended purposes, Setty said in remarks which come amid heightened concerns on the subject of end-use of funds. "We will require a viable mechanism to track the actual use of these funds to ensure that the funds are utilised for the purposes they have been raised for, probably through the establishment of a separate market infrastructure institution with powers to track the use of borrowed funds or the funds raised through equities," Setty said. Addressing a conference organised by the Sebi-promoted NISM here, Setty said the creation of such a platform will provide comfort to lenders as well as investors, and make pricing more competitive. It can be noted that the RBI has been pressing lenders to monitor end-use funds, .

Draft DPDP rules: Task cut out for banks as operational challenges loom

Banks engage in cross-selling financial products from their subsidiaries and third parties to their customer base

State Bank of India appoints Baldev Prakash as group chief risk officer

Earlier, Prakash was on deputation to Jammu and Kashmir Bank as managing director and chief executive officer, whose three-year term ended in December

Banks' profitability likely to moderate in FY26, says India Ratings

Estimates 13.5% loan growth in FY25

Results preview: Banks' net profit growth likely moderated in Q3FY25

Margin pressures, sluggish loan offtake may weigh on performance

Banks' profitability at inflexion point, to moderate in FY26: India Ratings

The rating agency said in a release that banks' rapid improvement in financial metrics seen over financial years 2021 to 2024 is likely to have peaked and will see an "inflexion point" in 2024-25

RBI releases master direction on reporting of customers credit information

The RBI on Monday came out with a master direction consolidating various instructions issued to banks and other financial institutions on reporting of the credit information of their customers. As per the master direction, credit information companies (CICs) will have to send alerts through SMS/ email to customers when their Credit Information Report (CIR) is accessed by the specified users (SUs). "The alerts shall be sent by CICs only when the CIR enquiry reflects in the CIR of the customer," said the Master Direction Reserve Bank of India (Credit Information Reporting) Directions, 2025. Also, Credit Institutions (CIs), which include banks and Non-Banking Financial Companies (NBFCs), will have to inform customers the reasons for the rejection of their request for data correction, if any, to enable such customers to better understand the issues in the CIR. "Complainants shall be entitled to a compensation of Rs 100 per calendar day in case their complaint is not resolved within a

Muted deposit and credit growth sends PSB stocks into a tailspin

While state-owned Union Bank of India reported a 2.2 per cent sequential growth in advances in Q3FY25, its deposits shrank by 2 per cent during the same period

DFS Secy launches 'Baanknet' portal as a one-stop property e-auction hub

According to a Finance Ministry statement, this platform consolidates information on e-auction properties from all PSBs and offers a one-stop destination for buyers and investors

Karur Vysya Bank's Q3 FY25 business rises 15% to Rs 1.82 trillion

The lender's advances increased by 13.96 per cent Y-o-Y to Rs 82,842 crore, while deposits grew by 15.75 per cent Y-o-Y to Rs 99,155 crore as of the end of December 2024

Looking ahead: Slowing credit growth, margin pressure await banks in 2025

Resource mobilisation was a key challenge for banks over the past two years, as deposit growth lagged credit uptake

RBI's Financial Stability Report flags rising NPAs, global economic risks

Indian banking sector stable, but global debt and economic volatility loom large