Page 42 - Indian Banks
Lot has been done, but best of HDFC Bank yet to come, says Aditya Puri
Puri expressed satisfaction that he was passing on the baton to Sashidhar Jagdishan, who is the "worthiest person" to lead the bank
 "Lot has been done, but best of HDFC Bank yet to come, says Aditya Puri")
City Union Bank reports 17% decline in net profit at Rs 154 cr in Q1
The bank had posted a net profit of Rs 185.65 crore in the corresponding period of the previous fiscal, CUB said in a regulatory filing
 "City Union Bank reports 17% decline in net profit at Rs 154 cr in Q1")
Restructuring likely to be at 5-8% of banks loan book under new norms: ICRA
Last week, the RBI allowed banks to go for a one-time restructuring of corporate and personal loans that are under stress due the Covid-19 pandemic
 "Restructuring likely to be at 5-8% of banks loan book under new norms: ICRA")
Central Bank of India Q1 profit up at Rs 147 cr, NPA ratio slumps to 6.76%
The bank had posted a net profit of Rs 121.61 crore during the same quarter a year ago
 "Central Bank of India Q1 profit up at Rs 147 cr, NPA ratio slumps to 6.76%")
In compliance with promoter stake reduction requirement: Kotak Bank
The bank was required to bring down the promoter's shareholding to 26 per cent
 "In compliance with promoter stake reduction requirement: Kotak Bank")
ICICI Bank launches QIP with floor price of Rs 351.36, eyes Rs 15,000 cr
The bank's Capital Adequacy Ratio (CAR) stood at 16 per cent as on June 30, 2020 with Tier I at 14.72 per cent. The asset quality profile of the bank improved during the reporting quarter
 "ICICI Bank launches QIP with floor price of Rs 351.36, eyes Rs 15,000 cr")
Madhavan Aravamuthan appointed new chairman of Fairfax-backed CSB Bank
His skill set includes a deep knowledge of IT systems, payment and settlement systems, offsite surveillance of banks, etc
 "Madhavan Aravamuthan appointed new chairman of Fairfax-backed CSB Bank")
Banks may not have to pay service tax for facilitating international trade
To facilitate trade, Indian banks provide services to exporters by sending the export documents to the bank of the importer abroad and collect payment
 "Banks may not have to pay service tax for facilitating international trade")
One-time loan recast: Tricky road lies ahead for Kamath panel, say experts
Govt appoints four more members; norms in 30 days after recommendations
 "One-time loan recast: Tricky road lies ahead for Kamath panel, say experts")
UBS Principal Capital Asia sells shares worth Rs 150 cr in Axis Bank
A total of 3.5 million scrips of the private sector lender were sold at an average price of Rs 428.7 apiece, valuing the deal at Rs 150 crore, according to block deal data on the BSE
 "UBS Principal Capital Asia sells shares worth Rs 150 cr in Axis Bank")
No current accounts for clients with cash credit, overdraft facilities: RBI
In a notification, the central bank said that rather than opening a new current account, all transactions should be routed through Cash Credit (CC) or OverDraft (OD) account
 "No current accounts for clients with cash credit, overdraft facilities: RBI")
No bank licence to India Inc: RBI sees threat to financial stability
The NITI Aayog had recently recommended to the government that long-term private capital should be allowed into the banking sector
 "No bank licence to India Inc: RBI sees threat to financial stability")
Monetary policy: Here's why RBI may go for rate cut on Thursday
BofA says the RBI will not only cut rates now, but will follow it up with another 75 bps cut in rest of the financial year 2020-21 (FY21)
 "Monetary policy: Here's why RBI may go for rate cut on Thursday")
Financial sector firms hit market to prepare for post-Covid world
Most private banks and non-banking firms are able to raise money on the strength of their profile
 "Financial sector firms hit market to prepare for post-Covid world")
Moratorium extension will lead to debt pile-up: Sunil Mehta, CEO, IBA
In an interview, SUNIL MEHTA discusses with Somesh Jha the demerits of extending the loan moratorium window and argues why it is the right time for the regulator to allow banks to restructure loans
 "Moratorium extension will lead to debt pile-up: Sunil Mehta, CEO, IBA")
SBI economists pitch for sector-specific loan recast after moratorium ends
They said the moratorium data is not "significantly perturbing" but hit out against the "spate of unplanned and unintelligent lockdown mania" in many pockets
 "SBI economists pitch for sector-specific loan recast after moratorium ends")
HSBC India's pre-tax profits up 9.5 per cent to $561 million for H1 2020
There was a 67 per cent growth in the allowance for expected credit losses (ECL) to $82 million during the six months as compared with July-December 2019
 "HSBC India's pre-tax profits up 9.5 per cent to $561 million for H1 2020")
Bandhan Bank's main shareholder seeks $1.4 billion in stock sale
Those shares are offered at a floor price of $4.16 each, according to the terms
 "Bandhan Bank's main shareholder seeks $1.4 billion in stock sale")
Bandhan Bank to IDBI Bank: 5 bank stocks that investors are betting on
With new strategies in place, the coming years could be exciting for Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank
 "Bandhan Bank to IDBI Bank: 5 bank stocks that investors are betting on")
June retail credit grows Rs 11,518 crore after shrinking for 2 months
Outstanding loans to SME remained flat at Rs 3.52 trillion in June, compared to May