Page 64 - Banking Sector

Committed to Axis deal; will follow earlier methodology: Max Life CEO

Max Life and Max Financial Services are committed to going ahead with the deal with Axis Bank, which will see the latter acquire another 7 per cent stake in the life insurance company, said the CEO

Axis Bank Q2 net profit rises 70% to Rs 5,329 crore; NII jumps 31%

Not looking to raise capital immediately for Citi deal: MD-CEO

Union Bank Q2 net up 21.07 per cent to Rs 1,848 crore on a YoY basis

Its net interest margin (NIM) improved to 3.15 per cent in Q2FY23 from 2.95 per cent in Q2FY2

AU Small Finance Bank's net profit rises 23% to Rs 343 crore in Q2

AU Small Finance Bank (SFB) on Wednesday reported a 23 per cent rise in its net profit at Rs 343 crore in the July-September quarter on healthy growth in loan disbursals aided by consistent fall in bad loans. The Jaipur-based lender had posted a net profit of Rs 279 crore in the same period in the year ago fiscal year. Bank's net interest income (interest earned minus expended) grew by 44 per cent to Rs 1,083 crore during July-September period of 2022-23, as against Rs 753 crore in same period of 2021-22, AU SFB said in a regulatory filing. Total income of the bank was up by 40.3 per cent at Rs 2,240 crore as against Rs 1,597 crore. Gross advances of the lender rose to Rs 52,452 crore as of Q2FY23 as against Rs 36,405 crore during the same period a year ago, with auto, MSME and home loans accounting for 75 per cent of the component. Disbursements during the quarter stood at Rs 8,605 crore as against Rs 5,061 crore. "The operating environment in Q2FY23 saw uncertainty over inflati

Rupee declines 0.8%, closes at fresh all-time low of 83 vs US dollar

Analysts say RBI is allowing the depreciation amid wider CAD and higher US interest rates

IndusInd Bank's Q2 net profit rises 57% to 1,805 cr, NII rises 18%

Should see 18-20% credit growth in FY23 says Sumant Kathpalia, MD & CEO, IndusInd Bank

Competition for funds drives SBI to hike savings deposit rate by 30 bps

Balances of Rs 10 cr and above to earn 3% rate of interest Oct 15 onwards; 2.7% rate unchanged on deposits below Rs 10 cr

Banks offer over 3-year high interest rate to raise funds through CDs

Call mkt rates at higher end of rate corridor as liquidity shrinks rapidly

Bank of Maharashtra Q2 net doubles YoY to Rs 535 cr as NIM improves

Lender eyes equity offering by Q4FY23 or early FY24

HDFC twins may merge a few months ahead of schedule: HDFC Bank CFO

HDFC Bank reported a 20.1 per cent year-on-year increase in net profit to Rs 10,605.8 crore in July-September

A big step towards 'ease of living': PM Modi opens 75 digital banking units

The DBUs will help banks that are now looking to reduce their physical footprint with fewer brick-and-mortar branches, with a 'light' banking approach.

UP gets digital banking footprint with four of the 75 DBUs on its soil

The DBU are being set up to ensure the benefits of digital banking reach the remotest of places

HDFC Bank's net profit rises 20% YoY to Rs 10,605 cr in Q2, NII jumps 19%

For the quarter under review, HDFC Bank's net interest income, which is the difference between interest earned and interest expended, grew 18.9 per cent on-year to Rs 21,021.2 crore

Banking stocks: Investors need to tread cautiously amid macro challenges

Indian inflation is running at 7.4 per cent, while the 364-day T Bill yield in late September auctions was 6.65 per cent

Federal Bank posts highest-ever quarterly profit; up 53% over last year

NII up 19.1% to Rs 1,762 crore, other income rises 24% to Rs 610 crore

Shriram Group likely to submit EoI for privatisation of IDBI Bank

Entry of Shriram Group as a bidder, could set the stage for at least a two-way contest for IDBI Bank with Prem Watsa's Fairfax Financial also believed to be a contender

Bandhan Bank plans to hike exposure of secured loans to 70% by 2025

Currently, 39 per cent of the asset book is secured

Digital rupee likely to bring down cost of cross-border payments

The introduction of CBDC for cross-border remittances can bring down costs substantially

Will banks see better margins in second quarter results?

Defying headwinds, banks are expected to report a healthy rise in net profit for September quarter. Find out how the Q2 report cards of banks look like and the warning signs that one should be wary of

RBI asks banks to set aside capital, provisions for unhedged FX exposure

Move comes amid sharp depreciation in rupee; says losses incurred by entities with such exposure could affect health of banking system