Page 38 - Banking Sector

NaBFID posts net profit of Rs 1,601 cr in FY24; loans stood at Rs 35,342 cr

Considering FY24 being the first full year of business operations, the Board advised that the income be continued to be accumulated as reserves to augment capital growth

Deposit rates raised by public sector banks higher than private peers

The share of bank loans bearing over 8 per cent interest rates increased from 47.2 per cent in March 2022 to 78.9 per cent in March 2023, and further to 83.7 per cent in December 2023

Goldman Sachs Q1 results: Profit jumps 28% on investment banking strength

"We continue to execute on our strategy, focusing on our core strengths to serve our clients and deliver for our shareholders," CEO David Solomon said

Home loans: To top up or not to top up?

The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar. Rightly so

RBI rejects Tamilnad Mercantile Bank's proposal for CEO candidate

Bank has been asked to submit "fresh panel of candidates with suitable experience" for the position of chief executive

Election season may hit govt capital expenditure spending, FDI inflows

In case of FDI, the total FDI inflows was over $50 billion in FY20 and its share during the election months of April-May 2019 turned out to be 18.1 per cent

Govt unlikely to privatise GIC Re at this stage: CMD Ramaswamy Narayanan

Narayanan says the company's business from Gift City will substantially increase in the coming days

RBI rejects two more applications for setting up small finance banks

So far, the regulator has received 13 applications to set up banks under the guidelines for 'on tap' licensing of Universal Banks and Small Finance Banks

RBL Bank appoints Murali Ramakrishnan as independent director for 4 years

Earlier, Ramakrishnan served as the Managing Director & Chief Executive Officer of South Indian Bank

Bandhan Bank MD Ghosh asks staff not to worry over his resignation

When asked if there will be an interim CEO, he said the board will take necessary steps in the first week of July

Fresh NPAs of private, public banks to pick up in FY25, says ICRA

Experts said that the expectation of an increase in fresh slippage rate in FY25 is built on the premise of seasoning of recently originated credit portfolios

Record household debt: Loans outpace deposits for 3rd year in a row

Debt higher than many BRICS peers, at lower per capita GDP

Credit growth, quality assets likely to spur bank profits in Q4 FY24

Reserve Bank of India data showed bank loans grew by 20.2 per cent YoY growth in advances to Rs 164.34 trillion and deposits expanded by 13.5 per cent growth on YoY basis

Banks' outstanding loans rose 20.2% on year in two weeks to March 22: RBI

Outstanding loans rose 1.21 trillion rupees ($14.54 billion) to 164.35 trillion rupees in the two weeks to March 22

HDFC Bank's gross advances surge 55.4% to Rs 25.08 trn in Q4 FY24

The bank's domestic retail loans grew by around 108.9% over the year-ago period and rose by 3.7% over Q3 FY24 figures

IndusInd Bank records 18% growth in advances at Rs 3.42 trillion in Q4

Private sector lender IndusInd Bank on Thursday said it has posted an 18 per cent growth in advances at Rs 3,42,857 crore during the March quarter. Net advances stood at Rs 2,89,924 crore at the end of the fourth quarter of the last financial year, IndusInd Bank said in a regulatory filing. The bank's deposits also rose 14 per cent to Rs 3,84,789 crore in the quarter under review, from Rs 3,36,438 crore in the same period a year ago, it said. IndusInd Bank's low-cost deposits -- current account and saving deposits (CASA) -- declined to 37.9 per cent as against 40.1 per cent of the total liabilities during the quarter. Meanwhile, Suryoday Small Finance Bank reported a 41 per cent increase in gross advances to Rs 8,650 crore for the fourth quarter ended March 2024 against Rs 6,114 crore in the year-ago period. At the same time, the bank posted a 50 per cent jump in deposits to Rs 7,775 crore as compared to Rs 5,167 crore in the same quarter a year ago, Suryoday Small Finance Bank sa

Bandhan Bank's advances increase 17.8% to Rs 1.28 trillion in Q4FY24

Bandhan Bank on Thursday said its loans and advances have clocked Rs 1.28 lakh crore at the end of the fourth quarter of the 2023-24 fiscal, registering a 17.8 per cent growth year-on-year. The lender said the same was Rs 1.09 lakh crore by the end of March 31, 2023. The bank said, in a regulatory filing, that the total deposits during the March quarter of FY'24 stood at Rs 1.35 lakh crore with a 25.1 per cent rise year-on-year. CASA deposits of the lender at the end of the quarter ending March 31, 2024 stood at Rs 50,151 crore. The CASA ratio was at 37.1 per cent. The collection efficiency ratio of the bank at the end of the fourth quarter of the last fiscal stood at 99 per cent, it said. Retail deposits of the bank (including CASA) at the end of the quarter ending March 31, 2024 stood at Rs 93,794 crore, and bulk deposits at Rs 41,404 crore.

Tier-1 capital raise by banks halves to Rs 17,516 crore in 2023-24

Healthy capital ratios, high interest rates, weak appetite lead to lower issuances

SFBs seek glide path from RBI to become universal banks citing eligibility

Lower priority sector lending norms would help in reducing cost

Union Bank raises Rs 42,000 cr from DIFC to fund overseas business growth

State-owned Union Bank of India on Wednesday said it has raised USD 500 million (about Rs 4,200 crore) from foreign markets to fund overseas business growth. The fund was arranged by Dubai International Financial Centre (DIFC), Dubai Branch, Union Bank of India said in a regulatory filing. A syndicated term loan of USD 500 million (USD 400 million and Green Shoe of USD 100 million) would be drawn in two tranches with tenure of 3 and 5 years. The first tranche of USD 100 million was drawn on Wednesday, it said. This is the maiden syndicated term loan raised by Union Bank of India at an overseas centre, it added.