Page 19 - Indian Banking Sector

BS Columnist Tamal Bandyopadhyay wins KLF book award for 'Pandemonium'

'Pandemonium' is touted to be a definitive insider story on the rot in India's banking system

Ind-Ra retains 'stable' outlook on Indian banking sector in FY22

The rating agency has kept its FY22 credit growth estimates unchanged at 8.9% for FY22

UCO Bank net profit jumps over 4-fold to Rs 102 crore in first quarter

The Kolkata-headquartered lender trimmed its gross non-performing assets (NPAs or bad loans) significantly

Fairfax-backed CSB Bank Q1 net profit jumps 14% to Rs 61 crore

Sequentially, too, the Kerala-based bank reported improved numbers, posting a rise of 42 per cent.

Ujjivan, Equitas promoter holdings to fall to zero post mergers with SFBs

Predictably, share prices of Ujjivan Financial Services, and Equitas Holdings jumped 20 per cent each after the two entities received the nod to reverse merge with their small finance bank entities

CSB Bank gains 7%, hits record high post June quarter business update

CSB Bank reported a 3.5 per cent QoQ decline in gross advances to Rs 14,146 crore

IDBI Bank invites bids to divest stake in Asset Reconstruction Company

The last date for submission of expression of interest (EoI) is June 25, 2021.

State-owned Union Bank of India fourth quarter profit at Rs 1,330 crore

It incurred a net loss of Rs 2,503.18 crore in the year-ago quarter.

Net loss of Central Bank of India, tipped to be privatised, narrows in Q4

Central Bank of India stock closed at Rs 23 apiece on the BSE, a jump of 7.98 per cent over the previous close.

CSB Bank soars 10%, hits 52-week high on impressive Q4 results

In Q4FY21, the net interest income (NII) grew 75 per cent year-on-year (YoY) at Rs 275.70 crore as against Rs 157.54 crore in the year-ago quarter

Reliance Industries may renegotiate Future group valuation: Bankers

FRL sales to drop by 71% in FY21 owing to pandemic impact; sales in FY22 to remain about 30% lower than in FY20, according to Fitch

De-risking the Risk Business webinar series - IFRS 17: From Compliance to Business Transformation

IFRS 17: From Compliance to Business Transformation

Will try to keep interest rate benign for as long as possible: SBI chief

State Bank of India (SBI) will try to keep the interest rates benign as long as possible with a view to supporting the economic growth, its chairman Dinesh Kumar Khara has said

Indian stock market vulnerable to the rise in Covid cases: Chris Wood

The renewed mobility restrictions in India, he believes, also increase the potential risk of a renewed deterioration in asset quality for banks

Axis Bank board approves re-appointment of Amitabh Chaudhry as MD & CEO

Private sector lender Axis Bank on Thursday said its board has approved the re-appointment of Amitabh Chaudhry as its Managing Director and CEO for three years with effect from January 1, 2022. "The board of directors of the bank.. considered and approved the proposal relating to re-appointment of Amitabh Chaudhry as the Managing Director and CEO of the bank, for a further period of 3 years, with effect from January 1, 2022 up to December 31, 2024," Axis Bank said in a regulatory filing. The appointment will be subject to the approval of the Reserve Bank of India (RBI) and shareholders of the bank, the filing added. Chaudhry was appointed as Managing Director (MD) and CEO of Axis Bank for a period of three years, with effect from January 1, 2019 up to December 31, 2021. Prior to joining Axis Bank, Chaudhry was MD and CEO of HDFC Standard Life Insurance Company.

RBI to conduct customer satisfaction survey on impact of bank mergers

This is to find out the impact of the recent mergers of state-owned banks on banking services being availed by individuals.

Cloud on banking stocks on NPA concerns amid second wave of pandemic

The Nifty Bank index has come off 15 per cent from its peak in February, underperforming the benchmark Nifty which is down 6%

A brief look at REPCO, the latest universal bank licence candidate

Repco Bank would approach the private sector for investments. However, it is yet to start such exercise.

A hale and hearty banking sector but...

More than banks, most of which have the balance sheet strength to stomach bad loans, it is the borrowers who will suffer once they are branded as defaulters since no lender will give them fresh money

Fluctuating bond yields key risk for banks' profitability, NIMs in FY22

Valuations likely to take 13-23 per cent hit if rates increase by 100-200 bps, say analysts