Page 11 - Banking

Weak Q3 FY24 performance weighs on SBI Card, AU Small Finance Bank

Analysts downgraded the stock tracking elevated provisions, interest rates, and funding costs

Lloyds bank to cut around 1,600 branch jobs in digital transition

Rival Barclays also slashed thousands of jobs last year, with the majority falling in the bank's back office support unit, Reuters first reported in November

RBL Bank Q3 results: Profit rises 11% to Rs 233 cr, gross NPAs down 3.12%

Private sector RBL Bank on Friday reported an 11 per cent increase in its profit to Rs 233 crore in the third quarter ended in December 2023. The bank had earned a net profit of Rs 209 crore in the same quarter a year ago. Total income increased to Rs 3,969 crore during the quarter under review against Rs 3,116 crore in the same period last year, RBL Bank said in a regulatory filing. Interest income of the bank also improved to Rs 3,191 crore during the quarter compared to Rs 2,498 crore in the same period a year ago. The bank's gross Non-Performing Assets (NPAs) declined to 3.12 per cent of the total loans at the end of December 2023 from 3.61 per cent a year ago. Net NPAs or bad loans also came down to 0.80 per cent from 1.18 per cent at the end of the third quarter of the previous fiscal.

RBI clears appointment of whole-time director for 3 years by Bandhan Bank

The lender added that Babbar's three-year tenure will begin from the date of taking charge, which should be within three months from the date (January 17, 2023), of the said RBI approval

Home loans' share of retail segment decline to 47.2% in Nov, shows data

Unsecured loans extended by banks at Rs 15.35 trillion

Karur Vysya Bank biz grows at 14.74% to stand at Rs 1.58 trn for Q3FY24

The lender announced that ICICI Prudential Asset Management Company Limited (ICICI AMC) received approval from the Reserve Bank of India (RBI) to increase its stake

Veteran banker Vaswani takes charge as Kotak Mahindra Bank's MD, CEO

He replaced Dipak Gupta, who was the interim MD and CEO, following founder director Uday Kotak stepping down as the head of the bank, effective September 1, 2023

Indian Overseas Bank unveils savings account portability facility

Public sector undertaking Indian Overseas Bank has introduced savings account portability online, an initiative aimed at catering to customers who move to different locations for their career or education and find it cumbersome to relocate their home bank accounts to their current location. The facility, being available online, helps customers avoid the laborious process of filling up endless forms manually and cuts short the days of waiting for the account transfer to take place. "As part of our continuous endeavours toward making our customers' banking journey more efficient and easier, we are introducing Savings Account Portability Online." the bank's Managing Director and CEO Ajay Kumar Srivastava said, in a release issued here. "We are committed to staying at the forefront of technology with innovative solutions that cater to the evolving needs of the customers in today's digital age," he added. To initiate an account transfer, customers need to log into the bank's website ...

Banks to remain well capitalised even under severe stress: RBI report

Bad loans from agri remain high at 7%

RBI approves CS Rajan's appointment as Kotak Mahindra Bank chairman

Rajan, an IAS officer of the 1978 batch, was appointed as an Independent Director on the Board of Kotak Mahindra Bank, with effect from October 22, 2022

State Bank of India hikes retail, bulk deposit rates up to 50 bps

The term deposits upto Rs two crore are categorised as retail deposits and those above it are considered as bulk deposits

RBI flags contagion risks on SFBs for high reliance on co-op banks deposits

"Lack of asset diversification coupled with geographical concentration"

The future of finance

Strategic sense about the forces reshaping banking

Stock price, net worth of NBFCs take knock as RBI curbs investments in AIFs

RBI tightening has minimal impact on banks as their AIF exposures small

UPI transactions surge 118% in semi-urban & rural stores, shows report

Aadhaar Enabled Payments System (AePS) withdrawals increased 30 to 40 per cent during direct benefit transfer (DBT) releases

Sharp improvement in liquidity expected from January 2024: India Ratings

Govt spending, FPI flows to drive liquidity

Srinivasa Rangan to look after corporate affairs in HDFC Bank, subsidiaries

Role involves oversight of all group companies and other responsibilities

PM Modi seeks to revive hinterland finance hub GIFT city with new breaks

Modi last weekend addressed an investment conference in the city to breathe life back into the site, calling for it to become a "new age financial services and technology nerve center"

Credit-deposit ratios of Indian banks may weaken, dent margins in 2024: S&P

Asset quality to stay on improvement trajectory

Not mentioning L/C no. on invoice is not a discrepancy, says expert

Provided all the stipulated documents are received by the issuing bank, the absence or mistyping of a credit number does not constitute a reason for refusal