Page 27 - Indian Banks

Private banks' Q2 profit soars 26% as economy shows signs of recovery

Helped by lower provisions and contingencies, which fell 26%; asset quality was broadly stable with 1% rise in GNPAs

Federal Bank net profit rises 50% to Rs 460 crore in September quarter

Private sector lender Federal Bank on Friday reported nearly 55 per cent jump in its consolidated net profit at Rs 488 crore for the second quarter of this fiscal ended September 30

PSU banks likely to get capital support in Q4 to meet regulatory needs

The government is likely to pump capital in public sector banks during the last quarter of the current financial year to meet the regulatory requirements

UCO Bank chief A K Goel is new IBA chairman, succeeds Union Bank MD

Banks Board Bureau had, in September, proposed Goel's for the forthcoming position of MD-CEO at Punjab National Bank. Centre to take final call on the appointment

Four Indian entities among 20 largest Asia Pacific banks in Q3:S&P analysis

HDFC Bank was ranked seventh with a market cap of $119 billion

Global climate action: Indian banks need to accelerate green financing

Indian banks need to move away from financing fossil fuels projects and prioritise lending to renewable energy and other environmentally sustainable projects

HDFC Bank's advances up 15% in Q2 of FY22, cites growth in rural India

Lender says it is recording growth in three business segments as the coronavirus pandemic slows down in India.

The big bank idea

India needs more efficient financial entities

Number of PE deals in India rose 60% over last 5 yrs: McKinsey's Akash Lal

In a Q&A, the Senior Partner at the Consultancy firm also says banks will need to increase productivity by 25%-30% to reach pre-Covid levels of profitability

India needs four-five SBI-size banks, says FM Nirmala Sitharaman

The finance minister also noted that some of the economically active regions of the country still lacked banking facilities

Market yet to respond to rate cuts on home loans, share prices unaffected

Lower rates to aid loan demand for financiers who can offset discounts over the long tenure

Retail depositors earning negative returns; relook taxes on interest: SBI

If not for all the depositors, the taxation review should be carried out for at least the deposits made by senior citizens who depend on the interest for their daily needs, the SBI economists said

HDFC Bank says it will double retail loans, sees 'robust demand' in economy

Uncertainty is declining as businesses seek to bolster growth after Covid-19, says the bank's country head for retail assets.

Forbearance gives Indian banks time to build capital buffers: Fitch

No need for equity capital till FY25 to meet 8% CET1 level

Mastercard ban: RBL Bank restarts credit card issuances with rival Visa

Two months after getting hit by the regulatory ban on Mastercard, private sector lender RBL Bank on Wednesday restarted credit card issuances on rival Visa's payment network. The Reserve Bank of India had banned Mastercard from issuing any new cards on July 14 this year for not complying with data localisation requirements. The move had hit a slew of lenders, including RBL Bank, which was fully dependent on the American payment company for its credit card business. RBL Bank said it signed up with Visa on July 14 itself, and the technology integration was achieved in record time to restart new issuances. Its head for retail business thanked Visa and technology partner Fiserv, and exuded confidence of meeting its target of issuing 12-14 lakh credit cards in FY22. Visa's head of business development for India Sujai Raina said the company aims to enable digital payments and help customers avail credit offerings from issuers with ease. Credit cards contribute 37.5 per cent of the retai

New vistas for Indian banks

As low credit offtake dents earning, Indian banks are exploring fresh avenues to lend. This is the only way to avoid mispricing of risks

Indian banks' improved performance in contrast to stress from Covid: Fitch

Indian banks' improved performance for the financial year ended March 2021 is in contrast to the stress evident from extension of Covid-19-related relief measures to borrowers, Fitch Ratings has said.

Centre appoints Harsha Bhupendra Bangari as EXIM Bank MD

Banks Board Bureau (BBB), the headhunter for state-owned banks and financial institutions, had interviewed 10 candidates for the top post at EXIM Bank

Bank of Maharashtra expects total business to cross Rs 3 trn soon

The bank has been a performer in various key parameters, including deposit mobilisation, credit growth, recovery, risk management etc, BoM managing director and CEO A S Rajeev said

Bank of India announces closure of QIP issue; raises Rs 2,550 cr

Bank of India on Tuesday announced the closure of its QIP issue and said that it has raised Rs 2,550 crore by issuing more than 40.5 crore shares to the qualified institutional buyers. The capital issue committee at its meeting held on August 31, 2021 has approved the issue and allotment of 40,54,71,866 equity shares to eligible qualified institutional buyers (QIBs) at an issue price of Rs 62.89 per share, aggregating to Rs 2,550.01 crore, Bank of India said in a regulatory filing on Tuesday. The issue had opened on August 25, and closed on August 30, 2021, and the bank had targeted to raise up to Rs 3,000 crore equity capital through this issue. LIC, ICICI Prudential Life Insurance Company and Bajaj Allianz Life Insurance Company are the three investors who subscribed to more than 5 per cent of the equity offered in the qualified institutional placement (QIP) issue. Life Insurance Corporation (LIC) has been allotted 15,90,07,791 shares (39.22 per cent), while ICICI Pru Life and Ba