Company says said the profit numbers for Q1Fy22 are comparable with that of the previous year for reasons including higher effective tax rate.
HDFC Bank, ICICI Bank and Axis say bulk of the loans marked substandard in April-June was in retail category, but expect turnaround as lockdowns end.
HDFC Bank's Aditya Puri emerged as the highest grossing banker among the top three private sector lenders in his retirement year with total emoluments of Rs 13.82 crore. His successor Sashidhar Jagdishan, who took over as the chief executive and managing director of the largest private sector lender on October 27, 2020 grossed a salary of Rs 4.77 crore for the fiscal year, which included payments as a group head till his elevation. Puri's overall payments included Rs 3.5 crore as post-retirement benefits. Its immediate rival ICICI Bank's MD and CEO Sandeep Bakhshi "voluntarily relinquished" his fixed compensation of basic and supplementary allowances for FY21, which had seen wide-scale impact of the COVID pandemic, as per the second largest lender's annual report. Bakhshi, however, did receive allowances and perquisites amounting to Rs 38.38 lakh, the document said, adding he also got Rs 63.60 lakh as performance bonus from ICICI Prudential Life Insurance Company as deferred variabl
The market valuation of HDFC Bank tumbled Rs 43,578.18 crore to reach Rs 7,97,422.67 crore.
The private bank bellwether reported its lowest NII growth in a decade
Sectorally, the Nifty Bank index declined over 2 per cent, led by losses in HDFC Bank (down over 3 per cent)
Is the weakness seen on Monday likely to intensify in the days ahead or is this just a knee-jerk reaction to the June 2021 quarter results announced last week? Here is what the technical charts say
HDFC Bank's asset quality deteriorated marginally due to disruptions in collections on account of the second Covid wave
Reliance Retail Ventures, a subsidiary of Reliance Industries said it will acquire a 40.95 per cent stake in Just Dial for Rs 3,497 crore
Offloads Rs 1,800 crore of bad loans
HDFC Bank was asked to pay a fine of Rs 10 crore earlier this year by the RBI
The bank's NII rose 8.57 per cent in Q1FY21 to Rs 17,009 crore, driven by growth in advances at 14.4 per cent and a net interest margin of 4.1 per cent
Amid the muted economic activity, analysts across the board, expect the lender's bottomline to shrink during the quarter on a sequential basis even as they see up to 30 per cent year-on-year growth
According to investment banking sources, the company is eyeing a valuation of between $20 billion and $25 billion
Companies say digital infra provided by Indian banks and faster loan and account documentation helped them during crisis.
It would be only the second such offshore offering from an Indian bank after State Bank of India sold such securities in 2016.
Between December and May, HDFC Bank's credit card kitty saw a drop of 528,447 cards while that of ICICI Bank increased 1.16 million, the highest by any lender during the period
HDFC Bank spent Rs 634.91 crore towards #Parivartan, the umbrella programme for all Corporate Social Responsibility initiatives, in FY 2020-21. Out of Rs 634.9 crore, over Rs 110 crore was allocated and utilised towards initiatives focused on Covid-19 relief.Further, the bank's #Parivartan has cumulatively impacted over 8.5 crore lives across India.#Parivartan focuses on following identified areas:Rural DevelopmentPromote EducationSkill Training and Livelihood EnhancementHealthcare & HygieneFinancial Literacy and InclusionKey Sustainability highlights:With outgo of Rs 634.91 crore in the last financial year, the Bank is one of the largest contributors of CSR in the country.Holistic Rural Development Programme (HRDP) in 1,970 villages in 21 states.Under 'Teaching the Teachers (3T) initiative, in association with NGO partners, the bank has trained over 19.67 lakh teachers benefitting over 2.07 crore students.#Parivartan has touched lives of 1.29 crore households in 28 states ...
Refuses to hazard a guess on when RBI will lift curbs; picks up stake in Pune-based enterprise software solutions firm