Page 3 - Banking Sector

Indian Bank Q2 results: Net profit rises 11.5% to ₹3,018 cr; NPA improves

Public sector Indian Bank on Thursday reported an 11.53 per cent rise in net profit to Rs 3,018 crore for the second quarter ended September 30 of the current fiscal. The bank posted a standalone net profit of Rs 2,706 crore during the September quarter of 2024-25 fiscal. Interest income rose to Rs 11,964 crore during the September quarter of FY26, from Rs 11,125 crore in the year-ago period. Provisioning against bad loans was down to Rs 739 crore during the quarter against Rs 1,099 crore in the July-September period of the last fiscal. Gross non-performing assets (NPA) improved to 2.60 per cent during Q2 over 3.48 per cent of total loans in September 2024. Shares of Indian Bank were trading at Rs 792.90 apiece, up 2.27 per cent over the previous close on the BSE.

Sweden's cashless society could be more vulnerable to hybrid war attacks

Across the Nordic and Baltic countries, governments are more and more concerned about Russian "hybrid war" attacks

Dubai's Emirates NBD eyes majority control in RBL Bank for ₹15,000 cr

Emirates NBD is expected to buy around 26 per cent stake from institutional investors and then make an open offer for an additional 25 per cent, Mint reported

Top jobs at PSBs: Pride and prejudice over opening doors to private talent

Opening top positions at public sector banks for private candidates is a welcome move. Delinking their salary from the IAS is the next logical step

IndusInd Bank strengthens leadership team with key new appointments

The private sector lender names new leaders across audit, finance, marketing, and transformation roles under MD & CEO Rajiv Anand to drive growth and governance

Results preview: Bank profits to see sharp dent in Q2 on margin pressure

Credit costs may also weigh on margins, given the stress in the unsecured loan book, bankers said

ICICI, Axis, SBI: Nomura prefers large banks over small amid tariff jitters

Nomura's top picks in the current tariff scenario include ICICI Bank (Buy), State Bank of India (SBI) (Buy), and Axis Bank (Buy)

IndusInd Bank names Viral Damania CFO amid leadership transition

IndusInd Bank has appointed Viral Damania as CFO and KMP with effect from September 22, while Santosh Kumar will continue as Deputy CFO after ceasing additional duties

Japan's SMBC completes 20% acquisition in Yes Bank, becomes top stakeholder

In May, SBI and seven private sector banks that had invested in Yes Bank during its reconstruction in March 2020, decided to sell a 20 per cent stake for ₹13,482 crore to SMBC

RBI sets up regulatory review cell to revisit rules every 5-7 years

RBI has established a regulatory review cell to assess norms every 5-7 years and formed an external advisory group of experts to channel industry feedback into the review process

SBI completes ₹8,889 crore stake sale in Yes Bank to Japan's SMBC

Earlier this year, SMBC had agreed to acquire a 20 per cent stake in Yes Bank, making it one of the largest foreign investments in the Indian banking sector

Banks step up focus on fee-based income; treasury gains come under pressure

Further, bankers said that there is still room to reduce rates on term deposits, and bulk deposit rates have already declined

Call for paring govt stake in public sector banks, greater board autonomy

The discussion also touched upon the objective of ensuring that at least two public sector banks feature among the world's top 20 banks

Next-gen public-sector banks on agenda as two-day Manthan begins

Focus on cybersecurity, customer experience, scaling strategies

NaBFID to submit infrastructure financing report to DFS within 15 days

NaBFID will consult stakeholders and submit a report to the Department of Financial Services in 15 days after a meeting chaired by DFS Secretary M Nagaraju with top banks and DFIs

BoB to PNB: Banks act to ensure uninterrupted services in flood-hit Punjab

Banks have issued advisories to branches in flood-hit Punjab to maintain customer services by stocking ATMs, keeping digital channels live and relocating operations if required

New co-lending norms may reduce bank and NBFC volumes in near term

RBI's new co-lending norms may shrink volumes in the short term as NBFCs face tech, cost and compliance hurdles - but lenders expect long-term growth once systems adapt

IndusInd Bank refutes ex-CFO Gobind Jain's allegations against chairman

IndusInd Bank has rejected allegations made by its former CFO, Gobind Jain, against Chairman Sunil Mehta, calling the claims meritless and part of an attempt to deflect accountability

Hinduja-backed IndusInd's new CEO Rajiv Anand seeks to cut risks in revamp

CEO Rajiv Anand has asked division heads to identify lapses in their businesses and submit improvement plans as part of a new three-year roadmap

Citibank names Kaustubh Kulkarni as co-head for investment banking in Apac

Citi has appointed Kaustubh Kulkarni, former JP Morgan India country officer, as co-head of investment banking for Asia Pacific, with his new role effective from December