Page 5 - Indian Lenders

CSB Bank net profit rises 19% to Rs 156 crore as bad loans decline

Private sector lender CSB Bank on Friday reported 19 per cent rise in net profit at Rs 156 crore for March quarter 2022-23 as bad loans declined. The bank had earned a net profit of Rs 131 crore in the same quarter of previous year. During the quarter, the bank's total income increased to Rs 762.81 crore from Rs 583.17 crore a year ago, CSB Bank said in a regulatory filing. Interest income grew to Rs 636.49 crore during the period under review from Rs 519.56 crore in the corresponding quarter a year ago. Gross non-performing assets (NPAs) were reduced to 1.26 per cent of gross advances as of March 31, 2023, from 1.81 per cent by the end of March 2022. Net NPAs also came down to 0.35 per cent of the advances from 0.68 per cent at the end of 2022. The Kerala-based bank recorded a net profit of Rs 547 crore for the year ended March 2023 as against Rs 458 crore in the previous year, logging a 19 per cent increase. The bank continues with the policy to maintain accelerated provisioni

Open to negotiate after auction, lenders tell Reliance Cap bidders

They decided that they reserve the right to negotiate with the bidders even after the second auction is over

Reliance Capital lenders meeting today to address bidders concerns

The two bidders, Torrent Investment and IIHL, have raised multiple issues with the lenders and they want these issues to be settled

Banks likely to post robust Q4 numbers; profit may hit record high in FY23

The banking sector is likely to post good numbers in the fourth quarter ended March 2023, and the total profit of public sector banks (PSBs) is expected to touch a record high of Rs 1 lakh crore in FY23, aided by the decline in bad loans and healthy loan growth. According to a senior bank official, the country's biggest lender State Bank of India (SBI) expected to earn a profit above Rs 40,000 crore in the financial year ended March 2023. In the first nine months of the previous financial year, the bank's bottomline stood at Rs 33,538 crore, higher than Rs 31,675.98 crore recorded in FY22. Similarly, other public sector lenders are also likely to report encouraging numbers, helped by a decline in non-performing assets (NPAs), moderation in slippages, double-digit credit growth and rising interest rate. For the first nine months of 2022-23, all 12 PSBs have earned a cumulative profit of Rs 70,166 crore compared to Rs 48,983 crore in the year-ago period, an increase of 43 per cent. "

Lenders to miss March-end deadline to resolve key insolvency cases

Once an account is settled with the highest bidder paying their bid amount, then it frees part of bank's locked fund in an account which could be used for lending purposes

Indian lenders expect pick up in retail deposits as interest rates rise

Currently, most large lenders offer deposit rates between 6.75% and 7.30% for 1-2 year deposits and between 5.75% and 7.25% for longer-term deposits

NCLT asks RCap lenders, administrator to reply on Torrent's plea by Monday

Reliance Capital has a consolidated debt of about Rs 40,000 crore

Banks renew AT-1 sales after two-month gap, PSUs lead pack to raise credit

Public sector lenders would end up issuing around Rs 13,500 cr worth of such bonds in coming weeks

IDBI Bank third lender to drag Siti Networks to bankruptcy court

Yet to receive notice from NCLT, firm says; HFDC, IndusInd Bank had filed petitions earlier

ICICI Bank adopting a 360-degree approach in corporate banking business

Analysts see risk of attrition due to the shift in culture its implementation

Citi deal may be complete in May: Axis Bank MD & CEO Amitabh Chaudhry

In March 2022, Axis Bank said it would purchase Citi's retail business in a transaction worth Rs 12,235 crore

Edelweiss to slash wholesale loan book to Rs 2,900 crore in 2 years

In a filing with BSE, the company said improved macro environment and sell-down capabilities were driving faster book reduction

Customer protection the core of new RBI microfinance rules: Dy governor Rao

These measures, along with a cap on repayment obligations and steps to check over-indebtedness introduced by the regulator, will eventually bring down interest rates for the borrowers, he says

Maharashtra appoints liquidator to wind up Rupee Cooperative Bank

Over 200 employees risk losing their jobs

Select lender that will offer amount needed to buy chosen property

While you should evaluate festive offers, criteria like ease of prepayment are also crucial

Warburg Pincus to acquire majority stake in MSME lender Vistaar Finance

NBFC has more than Rs 2,600 crore in AUM and it has some 200 branches

Large Indian lenders shun direct rupee transactions in Russia trade: Report

Large Indian lenders are reluctant to process direct rupee trade transactions with Russia months after the mechanism was put in place for fear of becoming the target of sanctions by the United States

Revlon lenders to seek rehearing after Citigroup's $500 mn victory

Some of the Revlon Inc. creditors who were accidentally sent more than $900 million by Citigroup Inc. asked a federal appeals court for a rehearing, after it ruled that they had to give the money back

TMB stock ends flat as RBI rejection of proposed chairman has little impact

RBI advised private sector lender to submit a fresh proposal of another Independent Director for the post of Chairman

Central Bank withdraws IBC case as Aban Offshore pays one-time settlement

The company has repaid outstanding principal of Rs 121.78 crore to the bank, is in talks with other lenders for debt resolution plan