Page 80 - Banks

Punjab & Sind Bank's board to consider plan for raising up to Rs 5,500 cr

State-owned Punjab & Sind Bank on Wednesday said the board of bank will meet later this week to consider raising up to Rs 5,500 crore by issuing shares on a preferential basis. "A meeting of board of directors of Punjab & Sind Bank is scheduled to be held on Saturday, November 21, 2020, for considering to offer, issue, create and allot equity shares up to Rs 5,500 crore (including preferential issue of equity shares)," the bank said in a regulatory filing. Shares of Punjab & Sind Bank on Wednesday closed 0.88 per cent up at Rs 11.40 apiece on the BSE.

Punjab & Sind Bank narrows net loss at Rs 401 cr in September quarter

Punjab & Sind Bank on Thursday reported narrowing of its net loss at Rs 401.27 crore in the second quarter ended September 2020. The state-owned lender had posted a net loss of Rs 468.73 crore in the same period a year ago. The loss, however, widened sequentially from Rs 116.89 crore in the June quarter of FY2020-21. Total income of the bank fell to Rs 1,999.19 crore in July-September of 2020-21 from Rs 2,222.57 crore in the same period of 2019-20, Punjab & Sind Bank said in a regulatory filing. Bank's provisioning for bad loans and contingencies were down at Rs 863.82 crore for Q2FY21 from Rs 972.62 crore in Q2FY20. Of this, bad loans or NPAs provisioning were Rs 845 crore, as against Rs 949.36 crore a year earlier. Asset quality impaired with gross non-performing assets (NPAs) rising to 14.06 per cent by end of September 2020 from 13.64 per cent at end of September 2019. Value wise, the gross NPAs stood at Rs 8,673.16 crore, lower than Rs 9,218.22 crore. Net NPAs, however, .

Play markets for medium-term, diversify across asset classes: Amit Khurana

IT Services has been the biggest beneficiary of Covid-19 pandemic and is now a mainstream growth driver rather than a one-off line item

SWIFT is a unique platform, says CEO Kiran Shetty

The platform enables financial institutions to send and receive information about financial transactions in a secure environment

Blaming clean-up efforts of Rajan, Patel for slowdown a 'tragedy': Acharya

Acharya said there are analysts who blame the efforts undertaken by RBI under Rajan and Patel for the current slowdown

Time for a fresh look: The bank branch is undergoing a sea change

Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan

Covid-19 impact: As debt piles up, transporters surrender or sell trucks

IFTRT says 30,000 trucks have either been impounded or surrendered

RBI announces co-lending scheme for banks, NBFCs for priority sector

Under the Co-Lending Model, banks will be permitted to co-lend with all registered NBFCs (including HFCs) based on a prior agreement, RBI said

Banks' compliance limit with new norms for existing current a/cs extended

Current accounts are widely used by businesses for their daily activities

Amtek Auto's lenders invoke personal guarantee of former promoter

The issue of personal guarantee of a corporate debtor under Insolvency and Bankruptcy Code has been challenged in various high courts

Credit growth to industry nil in Sept, banks pick services sector for loans

Personal loans grew 9.2 per cent year on year in September: compared to 16.6 per cent in September 2019

Kotak Mahindra Bank's consolidated PAT up 22% in Q2 to Rs 2,947 cr

Net interest income up 16.8% YoY to Rs 3,913 crore in the reporting quarter, net interest margin 4.52%

Wall Street banks see rare payday bonanza in India despite coronavirus

Five U.S. banks including Morgan Stanley and Goldman Sachs earned $170 million in investment banking fees in January-September

HDFC Bank m-cap tripled in 6 yrs. But this rare bear on the stock still made money

After a 63% rebound from its March low, HDFC Bank's stock is too expensive given the risks related to management change and asset quality

RBI announces Rs 1 trn 'on tap' TLTRO to enable banks to provide liquidity

Securities acquired by the banks with the intention to hold them up to maturity are classified under 'held to maturity (HTM)'

Gross NPAs of banks may jump to 11.5% by end of FY21: Care Rating

The gross NPAs ratio of Indian banks is likely to be 11-11.5% by end of this fiscal and they are likely to restructure 4 to 5 per cent of the overall bank credit outstanding, according to Care Rating

Weak credit card spends due to job loss snatch banks' low-hanging fruits

September's seven per cent year-on-year credit card outstanding is the poorest in recent years

RBI raises banks' aggregate exposure limit for small biz to Rs 7.5 cr

The notification follows an announcement made in this regard on October 9 after the monetary policy committee meeting

Expect banks to lend more to the two-wheeler segment: Honda Motor

Honda Motorcycle and Scooter India (HMSI) on Friday said banks should enhance lending to two-wheeler customers in order to help revive the sector

Banks sanction Rs 1.87 trn to 5.07 mn MSMEs under credit guarantee scheme

The Finance Ministry said banks have sanctioned loans of about Rs 1,87,579 crore to 5.07 mn business units under the Rs 3-lakh crore ECLGS for MSMEs impacted by slowdown caused by the pandemic