Page 33 - Banking Sector

Indian Bank raises Rs 5,000 crore through long-term infrastructure bonds

The bank said the private placement of long-term infrastructure bonds received an overwhelming response at 3.19 times the total issue size

CSB Bank Q2 results: PAT rises 4% to Rs 138 cr, income at Rs 1,064 cr

CSB Bank on Thursday reported a marginal 4 per cent rise in net profit to Rs 138 crore for the quarter ended September 2024. The Kerala-based lender had earned a net profit of Rs 133 crore in the year-ago period. Its total income rose to Rs 1,064 crore in the quarter under review from Rs 830 crore in the year-ago period, CSB Bank said in a regulatory filing. Its net interest income improved to Rs 367 crore in the July-September quarter from Rs 344 crore in the September quarter of 2023, registering a growth of 7 per cent. Asset quality of the bank deteriorated, with gross non-performing assets (NPAs) rising to 1.68 per cent of gross advances at the end of the September 2024 quarter against 1.27 per cent a year ago. The net NPAs or bad loans also rose to 0.69 per cent against 0.33 per cent in the year-ago period. Its capital adequacy ratio of the bank decreased to 22.74 per cent from 23.98 per cent at the end of September 2023.

Ujjivan Small Finance Bank Q2 results: Net profit falls 29% to Rs 233 cr

Ujjivan Small Finance Bank on Thursday reported a 29 per cent decline in net profit to Rs 233 crore for the quarter ended September 2024. The lender earned a net profit of Rs 328 crore in the year-ago period. However, total income rose to Rs 1,820 crore in the quarter under review from Rs 1,580 crore in the same period a year ago, Ujjivan Small Finance Bank said in a regulatory filing. Net interest income of the bank improved to Rs 1,613 crore in the July-September quarter from Rs 1,391 crore in the September 2023 quarter. The bank's asset quality deteriorated with gross non-performing assets (NPAs) rising to 2.52 per cent of gross advances at the end of the September 2024 quarter over 2.35 per cent a year ago. However, net NPAs or bad loans declined to 0.56 per cent against 0.89 per cent in the year-ago period. The Capital Adequacy Ratio of the bank decreased to 23.38 per cent from 25.19 per cent at the end of September 2023.

IndusInd Bank Q2FY25 results: Net profit falls 39% to Rs 1,325 cr

The private lender posted a net profit of Rs 1,325 crore ($157.7 million) for the three months ended Sept. 30, compared to Rs 2,181 crore a year earlier

AU Small Finance Bank Q2 results: Net profit jumps 42% to Rs 571 cr

AU Small Finance Bank on Wednesday reported a 42 per cent rise in net profit at Rs 571 crore for the quarter ended September 30, 2024 on the back of improvement in interest income. The Jaipur-based lender had logged a net profit of Rs 402 crore in the year-ago period. Total income rose to Rs 4,549 crore in the quarter under review from Rs 2,957 crore in the same period a year ago, AU Small Finance Bank said in a regulatory filing. Net interest income of the bank improved to Rs 1,974 crore in the July-September quarter, from Rs 1,249 crore in the September quarter of 2023, registering a growth of 58 per cent. Net interest margin increased to 6.1 per cent from 5.5 per cent at the end of September 2023. However, asset quality of the bank deteriorated with gross non-performing assets (NPAs) rising to 1.98 per cent of gross advances at the end of the September quarter 2024, as against 1.91 per cent a year ago. Net NPAs or bad loans also rose to 0.75 per cent, as against 0.60 per cent

Union Bank of India to take call on raising Rs 10K crore next quarter

Retains loan growth guidance of 11-13% despite slow capex

StanChart to double down on SME, affluent, wealth banking segments

After Mumbai, the bank is planning to open such centres in some other key markets in India to address the requirements of global Indians

Union Bank Q2 FY25 results: Net up 34.4% on non-interest income boost

Its net interest income (NII) shrank by 0.87 per cent Y-o-Y to Rs 9,047 crore in Q2 FY25 compared to Rs 9,126 crore in the same quarter a year ago

State Bank of India to raise Rs 5,000 cr through AT-I bonds this week

The issue size is Rs 2,000 crore, with a green shoe option of Rs 3,000 crore

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