Page 19 - Indian Banks

Rate hikes will help Indian banks post healthy profits in FY23: S&P

The rising interest rates will enable Indian banks to continue posting good profits during the remaining part of FY23, according to S&P Global Market Intelligence.

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

Govt raises PSB CEO term to 10 years, seeks younger talent at the top

A candidate can be appointed for 5 years initially, extendable for another five years; this is also applicable for executive directors who are also wholetime directors

Polarisation in performance of Indian banks to persist: S&P Global Ratings

Polarisation in the performance of Indian banks will persist as many large public sector banks are still saddled with weak assets, high credit costs, and poor earnings, S&P Global Ratings said on Thursday. It said State Bank of India and leading private sector banks have largely addressed their asset quality challenges, and their profitability is improving more sharply than the banking system. In its Global Banking Outlook-2023 report, S&P said economic recovery is driving credit costs to cyclical low levels and stronger balance sheets and higher demand should boost bank loan growth, but deposit growth will lag. "Polarisation in the performance of banks to persist," S&P said, adding the return on average assets would be 'adequate' at 1 per cent. "Many large public sector banks are still saddled with weak assets, high credit costs, and poor earnings. Similarly, we expect a mixed-bag performance for finance companies (fincos). The asset quality of these fincos is often ...

Share of low-cost deposits falls as FD rates rise, banks' NIM may take hit

With RBI on monetary tightening path, liquidity has shrunk and interest rates have hardened, forcing banks to hike rates on term deposits in order to get funds for credit growth

Chatroom: 'Export incentives available on payments received through SVAs'

Export invoicing in INR is already allowed but the payment must come through Vostro Accounts maintained by foreign banks with a bank in India

Banks go slow on bond sales as rising interest rates push up costs

The decision to go slow on these fund-raising plans - despite the booming credit growth - came at a time when bond market conditions turned turbulent

Suryoday SFB reports Rs 13-cr Q2 net against Rs 1.92-cr loss a year ago

On a sequential basis, the bank's net profit rose 67.7 per cent from Rs 7.75 crore in April-June

Bank of Baroda slashes home loan rates by 25 bps for limited period

New rate is 8.25%, applicable for fresh home loans and take over of existing home loans from other lenders

Union Bank of India secures second rank on IBA's EASE reforms index

/ -- Union Bank of India is ranked 2nd as per the report on EASE Reforms Index for Q1 FY 2022-23 by Indian Banks' Association (IBA). Union Bank of India is the 2nd Best Bank in adopting reforms prescribed for Public Sector Banks. Union Bank of India has been doing well in areas related to enabling various digital journeys for customer convenience, upgrading analytics & big data capabilities for personalized offerings & proactive reach out to customers, adopting modern technology capabilities for integrated banking experience, collaborative banking for higher efficiency, employee development and better governance measures resulted in Bank improving its rank up by two notches. The performance of PSBs is measured on five themes under EASE 5.0, in which, Union Bank of India has set the benchmark under the two themes i.e., 'Modern Technology Capabilities' and 'Employee Development and Governance'. The bank has also achieved 1st runner-up position in theme 'Digitally - enabled ...

Special FD rates, while attractive, lose the medium to long-term race

While you may begin allocating to them, keep some powder dry as rates could rise further

Dhanlaxmi appoints 3 new directors in board, paves the way for rights issue

The bank management and shareholders have reached compromise formulae on the issue of appointing the latter's representatives as directors on the bank's board

Chief labour commissioner to meet bank unions on proposed Nov 10 strike

Banks notices say normal services could get affected but they are taking action to keep work going

Credit risk not being fairly priced in by banks, says SBI report

Credit demand at decadal highs and liquidity remains significantly downsized, says research

Banks' loans rise 17.9% YoY in two weeks to Oct 21, deposits up 9.5%: RBI

Bank deposits fell Rs 601.16 billion to Rs 172.04 trillion rupees in the two weeks to Oct 21

Multiples Private Equity likely to sell stake in APAC Financial Services

Multiples Alternate Asset had acquired the stake for Rs 250 crore in 2018

Banks' reliance on deposits increases amid strong credit growth

Banks have raised over 3.51 trillion Indian rupees($42.41 billion) through certificate of deposits (CDs)in April-October, 22% higher than the 2.87 trillion rupees raised in 2021-2022

Maharashtra appoints liquidator to wind up Rupee Cooperative Bank

Over 200 employees risk losing their jobs

Bank of India launches special deposit scheme; raises interest on others

Apart from the special deposit scheme, Bank of India has raised interest rate on its existing 555-days fixed deposit scheme to 6.30 per cent

RBI starts pilot of its digital currency, allows 9 banks to use it

The e-rupee is set to be test launched within a month for retail use in select locations and users, the Reserve Bank of India had said in a statement Monday