Page 81 - Banking Sector

City Union Bank Q3 net rises 15% to Rs 196 crore on lower provisioning

City Union Bank (CUB) on Friday reported a 15 per cent rise in net profit at Rs 196 crore for the quarter ended December 2021 on lower provisioning requirements.

IOB Q3 net profit goes up by 113% as provisions decline sharply

The public sector lender's net interest margin declined to 2.4 per cent in Q3FY22 from 2.45 per cent in Q3FY21

Beyond the third wave: Rural economy, banking recovery, and more

Budget at a glance: Here're the key numbers from Union Budget 2022

Govt expects 27% lower dividend at Rs 74,000 cr from RBI and banks in FY'23

The government is expecting a 27 per cent lower dividend at Rs 73,948 crore from the Reserve Bank of India (RBI) and public sector banks and financial institutions in 2022-23. In absolute term, this is nearly 27,400 crore lower than the Revised Estimates (RE) of Rs 1,01,353 crore under the head of dividend or surplus of Reserve Bank, nationalised banks & financial institutions during the current fiscal. During the current financial year alone, the RBI has paid a dividend of Rs 99,122 crore. This dividend payout was for the financial year 2020-21 paid in May last year. As per the Budget document, dividends from public sector enterprises and other investments have also been pegged lower at Rs 40,000 crore as against RE of Rs 46,000 crore. Total dividend collection of the next financial year would be Rs 1,31,948 crore as against the RE of Rs 1,68,247 crore, as per the RE of 2021-22.

Banks' loans rose 8% YoY in two weeks to January 14: RBI data

Banks' loans rose 8% in the two weeks to Jan. 14 from a year earlier, while deposits rose 9.3%, the Reserve Bank of India's weekly statistical supplement showed on Friday.

Punjab National Bank looking to further dilute its stake in UTI Mutual Fund

State-owned Punjab National Bank (PNB) on Friday said it is looking to further monetise its stake in UTI Mutual Fund as part of its non-core asset sale plan to shore up its capital base.

Central Bank Q3 profit jumps 69% at Rs 279 cr on core income growth

Central Bank of India on Friday reported 69 per cent jump in net profit at Rs 279 cr for the quarter ended December 2021 on the back of healthy growth in core income and fall in bad loan proportion.

Fino Payments Bank net profit rises 116% at Rs 14.1 crore in Dec quarter

Its revenues rose by 20 per cent YoY to Rs 275.16 crore in Q3Fy22

Airtel Payments Bank customers' deposit surges 75% to Rs 1,000 cr in 2021

Money deposited with Airtel Payments Bank surged 75 per cent to Rs 1,000 crore in 2021 as compared to the previous year, a top company official said.

Wall St: Investors may take shelter in US regional banks as Fed hikes loom

Treasury yields have risen in anticipation of tighter policy, with those on the benchmark 10-year Treasury up 40 basis points from recent lows.

Rupee rises 8 paise to close at 74.43 against US dollar on easing oil price

The rupee advanced by 8 paise to close at 74.43 (provisional) against the US dollar on Friday on the back of easing crude oil prices and dollar selling by banks and exporters.

Bankers need not have heartburn, LIC staff deserved better pay: AIIEA

The employees of Life Insurance Corporation of India (LIC), deserved a good wage revision based on their performance and they got it, said AIIEA

Tech, banking among sectors that will be the hottest stock picks for 2022

The sustained boom in global tech spending, a revival of local housing demand and a rebound in bank earnings are expected to be among the key drivers of gains for India's stock market this year

PMC Bank merger with Unity Small Finance Bank awaits govt approval

The proposed merger of debt-ridden Punjab and Maharashtra Cooperative Bank with Unity Small Finance Bank is being examined and the process of amalgamation will start after the government approval

SBI hikes interest rates on fixed deposits by up to 10 basis points

State Bank of India, the country's largest lender, on Saturday increased interest rates on fixed deposit (FD) by upto 10 basis points or 0.10 per cent.

Bank credit grows 9.16%, deposits up 10.28%, says RBI data

In the previous fortnight ended December 17, 2021, bank advances had risen by 7.27 per cent and deposits went up by 9.58 per cent

REC raises $1,175 million from a consortium of seven banks

State-owned REC has raised USD 1,175 million from a consortium of seven banks.

Libor, the most important number in international finance, dies at 52

The interest benchmark once underpinned more than $300 trn in financial contracts but was undone after a year long market-rigging scandal came to light

State Bank of India raises $300 million of Regulation S Formosa bonds

Formosa bond is a bond issued in Taiwan

Ex-RBI governor Urjit Patel appointed as vice president of AIIB

Former RBI governor Urjit Patel was on Tuesday appointed as vice president for investment operations in South Asia at the Beijing-based Asian Infrastructure Investment Bank (AIIB)