Page 44 - Banking Sector

Karur Vysya Bank Q3 results: Net profit rises 43% to Rs 412 crore

The bank's total income from operations saw a 24 per cent increase to Rs 2,497 crore for the quarter ending in December 2023, compared with Rs 2,013 crore in the same period a year ago

Tamilnad Mercantile Bank Q3 results: Profit rises marginally to Rs 284 cr

Private sector Tamilnad Mercantile Bank has reported a net profit of Rs 284 crore for the October-December 2023 quarter, the bank said on Monday. The Tuticorin-based bank had reported a net profit at Rs 280 crore during the corresponding quarter of the last financial year. The bank's total income during the quarter under review grew to Rs 1,387 crore from Rs 1,173 crore registered in the same period last year. The total business of the bank during the October-December 2023 quarter surged to Rs 85,185 crore from Rs 78,242 crore in the same period last year. In a BSE filing, the bank said it has been giving continued thrust on advances to priority sectors like agriculture, micro, small and medium enterprises, and housing constituting 75 per cent of the Adjusted Net Bank Credit (ANBC) which is above the regulatory requirement of 40 per cent. During the quarter ending on December 31, 2023, the bank said it had opened six branches and a new current account scheme 'TMB RERA Current Acco

Small, big and systemically important banks

The systemically important bank classification is no comment on how secure depositors' money is in other banks. Sit back, relax and enjoy the higher rates for now

ICICI Bank Q3 net profit jumps 23.6% to Rs 10,272 cr, NII up 13.4%

Net Interest margins dip on rise in cost of deposits; makes Rs 627 crore provision to AIF exposure

Union Bank of India net profit surges 60% to Rs 3,590 crore in Q3

State-owned Union Bank of India on Saturday posted a 60 per cent jump in net profit to Rs 3,590 crore for the December quarter on the back of lower provisioning and better interest income. The bank had reported a net profit of Rs 2,249 crore in the year-ago period, Union Bnak of India said in a regulatory filing. The total income of the bank increased to Rs 29,137 crore during the third quarter of the ongoing fiscal as compared to Rs 24,154 crore a year ago, the filing said. The bank's interest income improved during the third quarter of the current fiscal to Rs 25,363 crore, as against Rs 20,883 crore a year ago, it said. The bank's gross Non-Performing Asset (NPA) ratio improved to 4.83 per cent as on December 31, 2023 as against 7.93 per cent a year ago. Similarly, the net NPA also declined to 1.08 per cent as compared to 2.14 per cent at the end of December 2022. Provisioning for bad loans came down to Rs 1,226 crore during the quarter under review from Rs 2,443 crore on the

Citigroup lays off more bosses as CEO addresses managing directors: Report

The bank last week said it would cut 20,000 jobs over the next two years, after a fourth quarter marred by one-off charges that resulted in a $1.8 billion loss

IndusInd Bank Q3 results: Net profit rise 17.2% to Rs 2,301.5 crore

The Net Interest Income (NII) which is the difference between interest earned and paid - stood at Rs 5296 crore for the period which was 17.81 per cent up from Rs 4495 crore in the year ago period

Indian banks seek looser liquidity conditions going ahead: Traders

Banks made these suggestions to industry body Fixed Income Money Market and Derivatives Association of India (FIMMDA) on Wednesday

South Indian Bank posts almost two-fold rise in Q3 profit at Rs 305.36 cr

Gross non-performing assets reduce by 74 bps, says Thrissur-based lender

P2P lending: Barking up the wrong tree?

Around 15 P2P platforms went live, but one-third of them have shut up shop. Analysts say four of them have more than 90 per cent of the market share

Higher demand could offset competitive pressures for housing finance cos

Can Fin Homes would see credit costs normalize after it took a provision of Rs 40 crore for fraud in Q2FY24 but net profit may fall by 5.0 per cent QoQ to Rs 1,390 crore

UK plans new framework to tackle small bank failures after SVB collapse

The proposals would require the industry to meet some costs associated with the bank failures rather than the taxpayer, Britain's Treasury said

Axis Bank gives Rs 1 bn loan to Everest Fleet for 4 years to purchase EVs

Everest Fleet is one of the largest independent fleet management providers in the country. This transaction will support the fleet to accelerate the use of electric vehicles

Big tech companies likely to continue hybrid mode of work: WeWork India CEO

Companies in the BFSI, media, and consulting sectors have returned to office almost fully, said Karan Virwani

Banks' net profit likely to grow by 16.7% in Q3 due to high credit offtake

High credit offtake, lower credit cost to support bottomline

Banks report healthy loan growth in Q3; Casa ratio continues to decline

The Trend and Progress report of the Reserve Bank of India, which was released last month, observed that with the increase in deposit rates catching up with that in lending rates

Reserve Bank of India to conduct 7-day VRR auction to inject up to Rs 1 trn

The central bank had conducted a VRR auction after six months on December 15

Central Bank of India's gross advances rise to Rs 2.4 trn, up 14.91% Y-o-Y

The bank also registered an increase in the rate of deposit growth at 9.52% (Y-o-Y). While its deposit base stood at Rs 3.4 trillion in Q3FY23, it expanded to 3.7 trillion in Q3FY24

Net advances of IndusInd Bank rise 20% to Rs 3.26 trillion in Q3 FY24

IndusInd Bank's growth in loans was 4 per cent in Q3 FY24 compared to the quarter ended in September 2023

Reserve Bank of India seeks to lower NNPA of banks for paying dividends

Draft proposes that net NPA ratio should be less than 6%