Page 48 - Banking Sector

Bank of Baroda's former CDO Akhil Handa says he was not terminated

Former Chief Digital Officer of Bank of Baroda counters termination claims, citing personal decision to resign following operational challenges

BoB Q2 result: Net profit up 28.4% to Rs 4,253 cr, led by loan growth

To slash personal loan growth pending portfolio review; CDO terminated in 'bob World' fiasco

Uco Bank Q2FY24 result: Net profit falls 20.3% to Rs 401.67 crore

Uco Bank Q2 result: The bank's gross non-performing assets fell to 4.14 per cent in the July-September quarter as compared to 4.48 per cent in the previous quarter

Tech is critical, but banks won't like to be tech companies: Citi India CEO

It is demeaning to compare what banks do and what technology companies do; banks build relationship of trust with customers and use technology as an enabler, says Ashu Khullar, CEO Citibank India

Bank Holidays in November 2023: Banks to remain shut for 15 days next month

The Reserve Bank of India has released the list of bank holidays in November month. Banks will remain closed for 15 days. However, online service, UPI transactions will continue to work seamlessly

BS BFSI Insight Summit: SBI to drive in with Yono 2.0 in nine months

Sees no concern on NPA front; macros in mint condition

Never seen this kind of alignment in banks: KV Kamath at the BS BFSI Summit

Kamath said that he has 'no sympathies' for organisations complaining of not having enough people in a country like India

Bajaj Finserv Q2 results: Consolidated net profit rises 24% to Rs 1,929 cr

Its consolidated total income rose by 25 per cent Y-o-Y to Rs 26,023 crore in the reporting quarter from Rs 20,803 crore in Q2FY23

Former Barclays banker Ashok Vaswani to head Kotak Mahindra Bank

The RBI has approved the appointment of Vaswani as the Bank's MD and CEO for a three-year period from date of taking charge which shall not be later than January 1, 2024

RBI-regulated entities interface set for a change with bigger role for SROs

The SRO story has just begun to unfold

ICICI Bank Q2 net profit rises 35.8% on lower provisioning, higher income

Bank reported 23.81% increase in net interest income

RBL Bank Q2 results: Net profit increases 46%, aided by rise in core income

Provisions rise amid strategic shift in advances

Kotak Mahindra Bank Q2 results: Net profit up 24%, aided by improved NIMs

The net interest income increased 23% to Rs 6,297 cr from Rs 5,099 cr a year ago

ICICI Bank Q2 results: Net profit jumps 36% to Rs 10,261 cr, NII up 24%

Private sector lender ICICI Bank on Saturday reported a 36 per cent rise in standalone net profit to Rs 10,261 crore for the September 2023 quarter, aided by an improvement in interest income. The Mumbai-based lender had posted a net profit of Rs 7,558 crore in the year-ago period. The total income in the second quarter of the current fiscal rose to Rs 40,697 crore from Rs 31,088 crore in the same period a year ago, ICICI Bank said in a regulatory filing. Interest earned by the bank improved to Rs 34,920 crore from Rs 26,033 crore in the September 2022 quarter. Its net interest income (NII) increased by 24 per cent year-on-year to Rs 18,308 crore in the quarter against Rs 14,787 crore in the corresponding quarter a year ago. At the same time, the net interest margin rose to 4.53 per cent compared to 4.31 per cent in the same period a year ago. The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 2.48 per cent of gross advances at the end o

IDBI Bank Q2 results: Net profit jumps 60% to Rs 1,323 cr on declining NPAs

IDBI Bank on Saturday reported a 60 per cent rise in net profit to Rs 1,323 crore for the second quarter ended September 30 on the back of a fall in bad loans. The private sector lender controlled by India's largest insurer LIC had posted a net profit of Rs 828 crore in the year-ago period. The total income in the September quarter increased to Rs 6,924 crore over Rs 6,066 crore a year ago, IDBI Bank said in a regulatory filing. The interest income grew to Rs 6,035 crore during the period under review from Rs 4,978 crore in the corresponding quarter a year ago. The bank's asset quality improved significantly with its gross non-performing assets (NPAs) declining to 4.90 per cent of the gross advances as of September 30, 2023, against 16.51 per cent at the end of September 2022. Its net NPAs fell to 0.39 per cent as compared to 1.15 per cent in the same quarter a year ago. The bank's Capital Adequacy Ratio increased to 21.26 per cent from 19.48 per cent at the end of the same quart

Central Bank of India Q2 results: Net profit rises 90.25% to Rs 605 crore

Its operating profit was down by 12.47 per cent to Rs 1,530 crore for Q2FY24 as against Rs 1,748 crore for Q2FY23

J&K Bank Q2 profit soars 57% to Rs 381 cr on growth in interest income

Jammu & Kashmir Bank on Friday reported a 57 per cent jump in net profit to Rs 381 crore for the September quarter on a healthy growth in interest income and a fall in bad loans. The bank had posted a net profit of Rs 243 crore in the year-ago period. During the quarter, total income rose to Rs 2,954 crore from Rs 2,445 crore a year ago, J&K Bank said in a regulatory filing. Interest income during the July-September quarter grew to Rs 2,764 crore as against Rs 2,299 crore in the same period a year ago. Gross non-performing assets (NPAs) were reduced to 5.26 per cent of gross advances as of September 30, 2023 over 7.67 per cent by the end of September 2022. Net NPAs were also brought down to 1.04 per cent as compared to 2.10 per cent in the same period previous fiscal.

Fed Chair Powell says strong economy may still require rate increases

Fed chief says geopolitical tensions are 'highly elevated'

Here are details of new IMPS money transfer rule: How will it work?

Users will soon be able to transfer money up to Rs 5 lakh through IMPS by deploying the mobile number and bank account name of the receiver

IndusInd Bank Q2 results: Net profit up 22% on NII growth, low provision

Yield on assets for the quarter stood at 9.69 per cent, compared to 8.65 per cent in the same quarter of the previous year