Page 28 - Banks

China kicks off anti-graft inspections of financial regulators, banks

China's biggest state-owned lenders, led by Industrial & Commercial Bank of China Ltd., as well as the main bourses in Shanghai and Shenzhen will also be inspected, according to the report

Bank holiday on Ram Navami 2024: Check state-wise complete holiday list

Ram Navami 2024: Banks are closed for operations on April 17 on account of Ram Navami. However, online transactions can be done throughout the day. Here's all you need to know

Ram Navami Bank holiday 2024: Check state-wise list of holidays in April

Ram Navami, celebrated across India, commemorates the birth anniversary of Lord Rama

RBI to banks: Can't charge extra without mention in key fact statement

Any fees, charges, etc., which are not mentioned in the KFS, cannot be charged by the REs to the borrower at any stage during the term of the loan: RBI

RBI caps Sarvodaya Bank withdrawals at Rs 15,000: What customers must know

Customers will feel the immediate effect of these restrictions through the imposed withdrawal limit

M&T Bank Q1 results: Profit declines by 25% on higher deposit costs

Regional lenders have had to pay higher interest rates on deposits to prevent customers from fleeing to higher-yielding alternatives, such as money market funds

Wells Fargo Q1 results: Profit declines by 7%, beats market estimates

The bank's net interest income (NII) -- the difference between what it earns on loans and pays out for deposits -- fell 8% to $12.23 billion

Citi Q1 results: Profit drops as costs rise on employee severance

Net income fell to $3.4 billion, or $1.58 per share, in the three months ended March 31, the bank said on Friday. That compares with $4.6 billion, or $2.19 per share, a year earlier

Banks prefer high premium corp, state bonds over G-secs in HTM portfolio

Banks must categorize bonds as 'held-to-maturity' on a permanent basis, with the exception of 5 per cent of the portfolio that can be withdrawn throughout the year, according to the new norms

ICRA revises FY25 outlook for banking sector to 'stable' from 'positive'

Rating agency expects credit growth and profitability to moderate in the sector

Banks' outstanding loans rose 20.2% on year in two weeks to March 22: RBI

Outstanding loans rose 1.21 trillion rupees ($14.54 billion) to 164.35 trillion rupees in the two weeks to March 22

Certificates of deposit issuances by banks up 34% in FY24, hit Rs 9.56 trn

The top five issuers accounted for approximately 60 per cent of the total fundraising in February

Tier-1 capital raise by banks halves to Rs 17,516 crore in 2023-24

Healthy capital ratios, high interest rates, weak appetite lead to lower issuances

Union Bank raises Rs 42,000 cr from DIFC to fund overseas business growth

State-owned Union Bank of India on Wednesday said it has raised USD 500 million (about Rs 4,200 crore) from foreign markets to fund overseas business growth. The fund was arranged by Dubai International Financial Centre (DIFC), Dubai Branch, Union Bank of India said in a regulatory filing. A syndicated term loan of USD 500 million (USD 400 million and Green Shoe of USD 100 million) would be drawn in two tranches with tenure of 3 and 5 years. The first tranche of USD 100 million was drawn on Wednesday, it said. This is the maiden syndicated term loan raised by Union Bank of India at an overseas centre, it added.

How many bank holidays are there in April 2024: Check full list here

There are a total of 14 days of bank closures in April 2024, including national holidays, every second and fourth Saturday and each Sunday.

Bank Holidays in April 2024: Here's the full holiday list for April month

In the month of April, banks will remain shut for 12 days. If you are planning to visit banks this month, here is the full holiday list you should know

Banks' GNPAs set to improve further to 2.1% by FY25: Care Rating

The gross non-performing assets (GNPA) of the Indian banking system are set to improve further to up to 2.1 per cent by the end of FY25, a report said on Friday. GNPAs are likely to come at 2.5-2.7 per cent in FY24 and will improve further to 2.1-2.4 per cent by the end of FY25, domestic rating agency Care Ratings said in the report. It can be noted that the Reserve Bank of India (RBI) began the comprehensive exercise in the middle of the last decade by instructing banks to classify certain stressed assets as NPAs so that the balance sheets represent a true picture. The rating agency also flagged a list of downside risks, which may result in its estimate not coming true, including a material weakening in asset quality due to the elevated interest rates, the impact of regulatory changes, a tighter liquidity environment and global issues. It said GNPAs surged to 11.2 per cent in FY18 from 3.8 per cent in FY14 due to the AQR process of 2015-16, which pushed banks to recognise NPAs and

China's property crisis ripples through banks as bad loan ratios creep up

Bank of Communications Co. reported Wednesday that its property bad loan ratio jumped to 4.99 per cent at the end of last year from 2.8 per cent a year earlier

Govt updates list of banks authorised to import gold, silver in FY25

The government on Thursday updated the list of banks authorised to import gold and silver during 2024-25. As per the list, 11 banks, including HDFC Bank and ICICI Bank, have been authorised by the Reserve Bank of India to import gold and silver for 2024-25 with effect from April 1. The authorisation will be valid up to March 31 next year. "List of banks authorised to import gold/silver...has been updated," the Directorate General of Foreign Trade (DGFT) said in a public notice. Three banks -- Indian Overseas Bank, Punjab National Bank, and Union Bank of India -- have authorised by the RBI to import only gold for 2024-25 with effect from April 1 this year. Gold imports rose 38.76 per cent to USD 44 billion during April-February this fiscal. However, silver imports dipped 11.53 per cent to USD 4.62 billion during the period.

Banks closed for 14 days in April; Check the state-wise list of holidays

On the account of public holidays, regional holidays, and regular closures on second and fourth Saturdays and all Sundays, banks will remain in various states across the month