Page 75 - Banking Sector

Canara, Union Bank to raise around Rs 4,000 cr via AT-1 bonds by next week

Union Bank plans to raise up to Rs 2,000 crore while Canara Bank plans to issue AT-1 bonds worth up to Rs 2,000 crore, say sources

ED probing some entities, employees over irregularities, says IndusInd Bank

IndusInd Bank says it has no credit exposure to the entities being investigated

NBFCs to rely more on funding from banks, cost may rise, says report

Non-bank finance companies (NBFCs) are likely to rely more on banks for their funding requirements as interest rates are hardening in the capital market, says a report. As the sector moves towards banks for meeting its funding requirements, smaller NBFCs could witness a sharp increase in their funding costs, India Ratings and Research said in a report. "The borrowings of non-bank finance companies (NBFCs) could get skewed to banks in FY23, given the hardening of rates in the capital markets," the agency said in a report on Wednesday. The shift in the NBFCs' funding mix in FY23 will be driven by a rise in the proportion of short-term funding by way of commercial papers and debenture funding getting replaced by bank funding to a certain extent. A huge quantum of borrowings to be raised by large NBFCs would lead to a further increase in the banks' exposure to the sector, and small NBFCs thus could face crowding out, the report said. The agency said with the rise in interest rates, ..

Major PSU banks to go live on account aggregator system by July-end

SBI and BoB are expected to go live by the deadline; PNB and Union Bank of India are already live on the ecosystem

Bank of Maharashtra bucks the trend, cuts MCLR by 20-35 basis points

The state-owned lender cut overnight and one-month MCLR by 25 bps to 6.90 per cent and 7 per cent

Banks' Q1 net profit growth estimated at 47% as lending stays strong

According to Bloomberg's data on analysts' estimates, net profits of the 12 listed banks in Q1FY23 will grow 47 per cent YoY and shrink 7.8 per cent sequentially

City Union Bank, Shriram Gen Insurance tie up for distribution of products

Shriram will offer personal insurance products such as motor, personal accident, home and travel along with commercial ones such as property, marine and engineering to bank's customers

Navigating India's soft landing

Unless the geopolitical situation worsens considerably, chances of a soft landing are higher in India than in the US

Centre seeks to grant bank licence to PSBs to enable privatisation

The government is exploring several options to address the issue for enabling privastisation of PSBs

Gains in financials hinge on RBI policy, investors must consider options

Nifty Bank outperforming the Nifty50 in recent times could be a sign of things to come

City Union Bank to raise up to Rs 500 cr via QIP; shareholder meet in Aug

The private sector lender said that its annual general meeting (AGM) is scheduled to be held on August 18, 2022, and it will seek shareholders approval for the capital raise plan

SBI, Canara, Bank of Baroda plan to raise Rs 7,500 crore through AT-1 bonds

IOB also likely to tap debt capital market, say sources, though quantum of fund-raising being planned isn't clear

Q1FY23 Preview: Banks to outshine, metals may disappoint, say analysts

Amid weakening consumer confidence and flaring inflation, analysts say that the corporate earnings this quarter will be a mixed bag, with select pockets like banks being the frontrunners.

HDFC Bank loans rose 21.5% YoY in Q1 to Rs 13.95 trn, deposits up 19.3%

Retail loans grew by around 21.5 per cent YoY in Q1 and approximately 5 per cent on a sequential basis, HDFC Bank said

Non-bank PSOs need approval for takeover or sale of business, says RBI

After approval, a public notice of at least 15 calendar days needs to be given before making the changes

Reserve Bank's DICGC to pay depositors of two co-operative banks in August

DICGC, a wholly-owned subsidiary of the RBI, provides an insurance cover of up to Rs 5 lakh on bank deposits

Canara Bank crosses Rs 1 trn mark for outstanding gold loan book in June

Canara Bank is pushing this business in Eastern region and two metropolitan areas - Mumbai and Pune

SBI to scale up gold loan business, start premium banking services

SBI agriculture cold loan portfolio increased to Rs 73,601 crore in FY22 from Rs 66,878 crore in FY2021 and personal segment, the gold loans book expanded by 9.89 per cent YoY to Rs 23,063 crore

PSBs back on growth path as India's economic recovery gains traction

While the impetus to double-digit credit growth was from wholesale lending, retail credit growth continued to be robust

Economic recovery gradual, uneven amidst global headwinds: RBI report

Corporate sales and profitability increasing and gross NPA of banks is at 6-year low