Page 52 - Banking Sector

Barings PE, ChrysCapital acquire 90% stake in HDFC Credila for Rs 9,060 cr

In April 2023, Reserve Bank of India had advised HDFC to bring down its stake in HDFC Credila to 10%

High investor interest propels IDFC First Bank's stock to new highs

Lender's financial performance has been robust but high valuations may cap further gains

RBI's hygiene step to bring much-needed clarity to FLDG arrangements

Mint Road has pulled the plug on clever financial arrangements between regulated entities and fintechs, with stress on skin in the game

Enforcement sees paradigm shift by RBI

Regulated entities should realise that the central bank's enforcement actions carry reputation risks, erode investor confidence, and impact the chief executive's tenure

Bank of Maharashtra plans to recover 5% from written-off accounts in FY24

The Pune-based lender had recovered Rs 943 crore from written-off accounts in FY23, up from Rs 642 crore in FY22, according to the document filed Qualified Institutional Placement (QIP)

RBI likely to tighten norms for unsecured lending portfolios of banks

Indian banks have been expanding their unsecured lending portfolio as the pandemic-induced stress began easing

As Fed Reserve signals rate pause, Powell will have to placate hawks

Policymakers are expected to leave rates in a range of 5% to 5.25% at their June 13-14 meeting, allowing them to take stock of the outlook following recent strains in the banking sector

RBI to levy penalties on banks that lose property papers of loan seekers

Banks may have to compensate borrowers and also pay a penalty if they lose the original property documents of loan seekers

Bank boards must hold mgmts accountable for their actions: RBI Dy Guv Rao

If the management fails to meet expectations, the board should even consider replacing it, he said

TMS Ep446: Bank metrics, start-up funding, markets, evergreening of loans

Why is RBI Guv worried despite banks doing well? How can start-ups convince VCs to invest dry powder? Will India Inc see more earnings downgrades in FY24? What is evergreening of loans? Answers here

CRISIL upgrades Central Bank rating on improvement in profitability

State-owned lender has improved asset quality, been profitable for eight consecutive quarters

High staff attrition a significant operational risk to banks: RBI Dy Guv

Outsourcing, lack of succession planning and staff skilling also areas of concern, Jain says

Public sector banks' total profit crosses Rs 1 trn-mark in 2022-23

Public sector banks' cumulative profit crossed the Rs 1 lakh crore-mark in the financial year ended March 2023, with market leader State Bank of India (SBI) accounting for nearly half of the total earnings. From posting a total net loss of Rs 85,390 crore in 2017-18, the Public Sector Banks (PSBs) have come a long way as their profit touched Rs 1,04,649 crore in 2022-23, according to an analysis of their financial results. These 12 PSBs witnessed 57 per cent increase in total profit compared to Rs 66,539.98 crore earned in 2021-22. In percentage terms Pune-based Bank of Maharashtra (BoM) had the highest net profit growth with 126 per cent to Rs 2,602 crore, followed by UCO with 100 per cent rise to Rs 1,862 crore and Bank of Baroda with 94 per cent increase to Rs 14,110 crore. However, in absolute term, SBI has reported an annual profit of Rs 50,232 crore in 2022-23, showing an increase of 59 per cent over the preceding financial year. Except for the Punjab National Bank (PNB), ot

SoftBank Group Corp vision fund loses money mgain despite tech rebound

While SoftBank has lost money off and on for years, the latest results are surprising because technology valuations around the world have largely rebounded this year

More SVB-like crises to come, says Aswath Damodaran on US banking sector

Economic expert Aswath Damodaran in his latest blog has said that the US can witness more dominos falling like the SVB

Union Bank's Q4 net rises 93.3% to Rs 2,782 cr on healthy growth in NII

The board of directors has recommended a dividend of Rs 3.0 per share (Rs 10 each) for FY23, subject to shareholders' approval, the Mumbai-based lender informed BSE

JK Bank records highest-ever net annual profit of Rs 1,197 crore in FY23

Jammu and Kashmir Bank has announced its highest-ever net annual profit of Rs 1,197 crore in the results for the financial year 2022-23. With a decade-high capital adequacy ratio of 15.39 per cent and NPAs at an eight-year low of 6.04 per cent, the bank also recorded its highest-ever quarterly profit of Rs 476 crore in the last quarter. "Jammu and Kashmir Bank has recorded Rs 1,197 crore as net profit for FY 2022-23 which is the highest ever annual profit," a bank spokesperson said. "The bank's gross and net NPA as percentages to gross and net advances improved considerably to 6.04 per cent and 1.62 per cent respectively, compared to 8.67 per cent and 2.49 per cent recorded last year." The growth of advances outpaced the increase in deposits. While advances grew by 17 per cent to 82,285 crore, deposits increased by around 6 per cent to Rs 1,22,038 crore. "It is a great feeling to deliver better-than-promised annual numbers. Looking back to March 2022 with these set of numbers, I

UCO Bank Q4 net profit rises 86% to Rs 581.24 cr, NPA down to 4.78%

The loan Book of UCO Bank also reached its highest-ever level of Rs 11.6 trillion against a loan book of Rs 12.9 trillion last year

JPMorgan to acquire First Republic Bank after seizure by regulator

First Republic Bank is the third major US bank to fail in two months after Silicon Valley Bank and Signature Bank

Banking infra needs further strengthening in NorthEast: Bhagwat Karad

The government schemes on financial inclusion are doing well and there is an increase in credit growth by 85 per cent