Page 58 - Banks

Trend shift? Bank deposits rise four times versus credit outflows

Credit rose by Rs 0.43 trillion to Rs 129.26 trillion and deposits grew by Rs 1.7 trillion to Rs 173.7 trillion in the reporting fortnight

Axis Bank launches 7th edition of knowledge summit 'Evolve' for MSMEs

The current edition is focused on the broader theme of 'Indian SMEs: Shifting Gears for Next Level Growth'

RBI-ESMA logjam: Banks turn to EU, UK regulators over trade impact concerns

Banks expressed concerns about trade impact, disruptions seen in OIS, bond markets

Bank credit to grow 15% this and next fiscals as economy recovers: CRISIL

Riding on a broad-based economic recovery and stronger, cleaner balance sheets, lenders are expected to see their credit growing at 15 per cent this fiscal and the next, a report said on Tuesday. Credit growth so far this fiscal has printed in at around 18 per cent, which is a decadal high. Already, large lenders have seen corporates flocking to banks for funds for capital expenditure and also for working capital as the demand side of the economy is faring better. SBI has the best corporate loan sales in Q2 recording a 20 per cent growth and so did most other lenders including private sector banks. Bank credit is seen growing 15 per cent per annum in fiscals 2023 and 2024, Crisil said in a report. The agency said that its forecast is based on an expected 7 per cent GDP growth this fiscal, as well as the expected continuation of the credit push from government's infrastructure spends, higher working capital demand in a high-inflation environment, and some substitution of debt capit

RBI Guv to meet banks CEOs on Wednesday to discuss slow deposit growth

Reserve Bank Governor Shaktikanta Das will hold a meeting with CEOs of public sector banks on Wednesday to discuss issues concerning slow deposit growth and sustainability of high credit demand. As per the Reserve Bank of India (RBI) data, deposits rose by 9.6 per cent as compared to 10.2 per cent on a year-on-year basis, while credit offtake witnessed a jump of 17.9 per cent as against 6.5 per cent a year ago. According to an agenda circulated for the meeting, sources said, sustainability, including pricing and slow growth of deposits, would be discussed. There would be deliberation on asset quality in the retail and MSME segment, sources said. Besides, the meeting would also review the functioning of Digital Banking Units launched by Prime Minister Narendra Modi last month. The robust growth performance in the first half of the current fiscal has been ably supported by a well-capitalised banking system that witnessed an upswing in credit disbursement to the retail, industry and

Punjab & Sind Bank to take call on Rs 300 cr QIP in fourth quarter: MD Saha

State-owned Punjab & Sind Bank would take a call on raising equity capital through qualified institutional placement (QIP) after taking into account third quarter numbers and pace of loan growth, the bank's managing director Swarup Kumar Saha said. As far as capital adequacy is concerned, the bank is well-capitalised at 15.68 per cent and it can easily take care of business growth this year, he told PTI in an interaction. However, he said, "There is a need to build some buffer on the equity side. So, we would plan a small amount of capital mobilisation either through equity or bonds, say Rs 250 crore or Rs 300 crore. "We will watch our third quarter performance and momentum of credit demand and based on that make a decision with regard to QIP or other means." The bank has redeemed Additional Tier 1 (AT1) bonds, he said, adding, now the bank would try other means including QIP, which is cost effective. The government of India's holding in the bank stood at 98.25 per cent at the end

Billionaire Hinduja brothers end family feud on pact signed in 2014

The fight among Hinduja brothers was caused because of a pact signed by them in 2014 that said that 'everything belongs to everyone and nothing belongs to anyone'

12 PSBs report 50% jump in combined Q2 net profit at Rs 25,685 crore: FM

Finance Minister Nirmala Sitharaman on Monday said the government's efforts to reduce bad loans are yielding result with 12 public sector banks reporting a 50 per cent jump in combined net profit at Rs 25,685 crore in the second quarter ended September. In the first half of FY23, the cumulative net profit of all public sector banks (PSBs) increased by 32 per cent to Rs 40,991 crore. During the second quarter, the SBI reported the highest-ever profit of Rs 13,265 crore. On year-on-year basis, this was 74 per cent higher than the same quarter a year ago. "The continuous efforts of our govt for reducing the NPAs and further strengthening the health of PSBs are now showing tangible results. All 12 PSBs declared net profit of Rs 25,685 cr in Q2FY23 & total Rs 40,991 cr in H1FY23, up by 50% & 31.6%, respectively (y-o-y)," Sitharaman said in a tweet. She further said Canara Bank reports an 89 per cent jump in profit to Rs 2,525 crore as compared to second quarter of the previous ...

SBI's Q2 net rises 74% to Rs 13,265 crore on improved interest margins

The lender's net interest income improved 12.83 per cent YoY to Rs 35,183 crore for Q2FY23, against Rs 31,184 crore last year

Bank of Baroda's Q2 net jumps 58.7% aided by rise in NII, dip in provisions

Provisions of the lender declined 41 per cent YoY to Rs 1,628 crore in Q2FY23.

ESMA-Indian regulators logjam: European banks' loss may aid US peers

Foreign investors may switch to custodians backed by American banks for India exposure

McKinsey lists 10 steps to decarbonise India while pursuing economic growth

India emits a net 2.9 gigatons of carbon-dioxide equivalent every year, third-largest globally, as of 2019, according to a report recently released by McKinsey Sustainability

In call with bankers, Musk pledges to close Twitter deal by Friday

Elon Musk pledged to close the acquisition of Twitter Inc. by Friday in a video conference call with bankers helping fund the deal

After a good ride, tide turns for low-cost CASA in September quarter

The share of CASA saw a slight rise to 56.27 per cent in September 2022 from 56.08 per cent in June 2022 and 53.91 per cent a year ago

Life insurers' retail protection biz down YoY, seen stabilising going ahead

Max Life bucks trend with 11% YoY growth in retail protection APE in Q2

The toughest challenge before bank HR

Employees across segments, including those involved in specialised jobs such as technology, compliance and risk management, have started leaving the bank fold in hordes

Karur Vysya Bank net profit up 52% at Rs 250 cr in Q2, deposits grow

NPA declines to Rs 2,457 crore, compared to Rs 3,972 crore a year ago

IDBI Bank net profit jumps 46% to Rs 828.09 crore in Sept quarter

Profits would have been higher if not for aggressive provisioning: IDBI Bank CEO

Canara, UBI, Central Bank see 2-digit rise in net due to higher NII growth

NII of the lender grew 18.5 per cent year-on-year (YoY) to Rs 7,434 crore

Why this is not the time to take on very long-term fixed deposit investment

For periods longer than 3 years, it is a good idea to explore debt mutual funds that offer indexation benefits and lower the tax outgo