Page 41 - Banking Sector

How long will the bull run continue for PSU banks?

In the past one year, the S&P BSE Bankex has been up 17.63 per cent and the Bank Nifty 17.04 per cent. But the Nifty PSU Bank index has risen close to 95 per cent!

RBI's action on Paytm PB puts the spotlight on a few lingering issues

Should there be a revisit of the domestic-systemically important bank (D-SIB) framework, and is there a case for this to be widened to cover more kinds of regulated entities (REs)?

RBI allows banks, non-banks to issue PPIs for public transport systems

The regulator amended guidelines for prepaid payment instruments for mass transit systems (PPI-MTS). It said such PPIs can be issued without Know Your Customer (KYC) verification of the holders

@Paytm UPI handles to be smoothly migrated from Paytm Payments Bank: RBI

NPCI asked to help Paytm app continue operations

RBI receives bids worth Rs 2.08 trillion at the 13-day VRR auction

RBI will conduct a 3-day VRR auction on February 26 to infuse Rs 1.5 trillion into the system

Jana SFB Q3FY24 results: Net profit rises 12.82% to Rs 134.64 crore

Its net interest income rose by 24.4 per cent Y-o-Y to Rs 548.5 crore in Q3, up from Rs 440.8 crore in Q3 FY23

RBI to conduct 13-day VRR auction to infuse Rs 1 trillion on Friday

Despite the slew of VRR auctions being conducted by the RBI since February 8, the persistent liquidity deficit in the banking system has been largely around Rs 2 trillion in the period

Bandhan Bank appoints Rajeev Mantri as CFO effective from February 22

Ghosh took charge as the Interim CFO from October 20, 2023, after Sunil Samdhani resigned from the post of CFO effective September 30, 2023, to explore opportunities outside the bank

HSBC pre-tax profit up 19% in India for FY23, more profitable than China

China's pre-tax profit plummeted 89% Y-o-Y to $371 mn in 2023 from $3.40 bn in 2022 due to losses the bank suffered in its wealth management, personal banking and corporate centre verticals

Govt appoints non-executive chairmen in Bank of India, IOB, Uco Bank

Ex-LIC head MR Kumar appointed as non-exec chairman of Bank of India

Credit deposit ratio inch up Dec qtr; top PSBs report lower than pvt peers

The CD ratio is the ratio of the funds that banks lend compared to the funds raised in the form of deposits

HSBC posts 25% rise in profit from India operations to $1.5 bn in 2023

HSBC Group on Wednesday posted a 25 per cent increase in profit from India operations to USD 1.5 billion for the financial year ended December 2023. The bank, which follows the calendar year as its fiscal, had earned a profit of USD 1.2 billion in 2022, HSBC said in its annual report for 2023. Countries, including India, Singapore, and Saudi Arabia, are the growing markets for the bank, it said. This was again evident as all of them reported a significant increase in profits in 2023, with mainland China (excluding associates), India, and Singapore each contributing in excess of USD 1 billion of profits to the group, it said. HSBC aims to continue growing its wholesale franchise by taking advantage of corporate supply chains in India, as per the annual report. The bank is also tapping into the wealth pools of the Indian diaspora with the launch of onshore Global Private Banking, it said. HSBC, which has 42,000 employees in India operations, said the economies of south and southeas

Digital banking infra provider Signzy buys Difenz at valuation of $5 mn

Digital banking infrastructure provider Signzy has acquired Difenz, a fraud risk management solutions provider, in a cash and equity deal at a valuation of USD 5 million (about Rs 41.4 crore). The acquisition also gives an exit to existing investor 8i Ventures, according to a release. Announcing Signzy's takeover of 8i-funded Difenz at a valuation of USD 5 million, the release said the deal positions Signzy as one of the largest RegTech (regulatory technology) companies in the country providing advanced risk and compliance solutions to financial institutions. The transaction is a cash and equity deal, the release said but did not elaborate on details. "Signzy will now provide seamless AI-led KYC compliance solutions to the financial institutions (FIs) thereby eradicating redundancy across frameworks," it said. This will also enable Signzy to provide advanced AML (Anti-Money Laundering) screening, transaction monitoring, effective chargeback management and compliance management sys

Union Bank plans to raise Rs 3,000 cr, fixes floor price at Rs 142/share

State-owned Union Bank of India on Tuesday approved a Rs 3,000 crore share sale proposal to fund its business growth. The Committee of Directors for Raising Capital Funds, in its meeting held on Tuesday, cleared the proposal for raising of funds for an amount not exceeding Rs 3,000 crore through the issue of equity shares via Qualified Institutions Placement (QIP), the bank said in a regulatory filing. This is subject to the requisite regulatory or statutory approvals, it said. The committee also approved the floor price of Rs 142.78 per equity share for the issue, it said. The bank may offer a discount of not more than 5 per cent on the floor price to be decided in consultation with the book-running lead managers, it added. The decision for allotment of shares to Qualified Institutional Buyers to be taken on February 23, 2024, by the Committee of Directors for Raising Capital Funds, it added.

Barclays focuses on Britain; cost cuts, buybacks to win over investors

The bank's first strategy update in almost a decade marks an inflection point for Venkat as he tries to improve returns after a period of management turmoil and underwhelming results

Kotak Mahindra Bank announces key changes to its leadership team

KVS Manian to be joint MD, Shanti Ekambaram Dy MD; new COO, group CFO & CRO appointed

Vladimir Putin signs decree allowing HSBC to sell Russian unit to Expobank

Monday's order said it was allowing Expobank to acquire 100% of the unit, owned by HSBC Europe BV

Stocktaking on the fintech revolution

Financial economic policy in India holds back the possibilities

The new challenge on the banking turf

Raising deposits to keep pace with loan growth and keeping credit cost low top the agenda for banks

RBI extends deadline for Paytm Payments Bank restrictions to March 15

Merchants can accept payment if account linked to other banks