Page 9 - Private Banks

Karnataka Bank gains 4%, hits over 15-year high on fund raising plans

The board of the private sector lender is scheduled to meet on Friday, September 22, 2023 to consider the raising of funds by issue of equity shares / any other equity linked securities.

Standard Chartered sets up banking centre in Chennai to serve UHNI clients

Private sector Standard Chartered Bank has inaugurated its private banking centre in the city, the over-century-old bank said on Saturday. The Private Banking Centre is the fifth after Bengaluru, New Delhi, Kolkata, and Mumbai. Aimed at serving high net worth and ultra-high net worth clients, the Private Banking Centre offers products, advisory, and insights to manage, grow, and protect personal and business wealth. "Being one of the oldest global banks in India, we have relationships across multi-generations and therefore we can focus both on a traditional approach while offering bespoke, objective, and holistic advice supported by an open architecture platform," said the Bank's Managing Director and Head Affluent, Private Bank and Branch Network, Nitin Chengappa. "We are excited to open our new private banking centre in Chennai. Tamil Nadu is a major economic and financial centre, and we see a lot of potential for growth in our private banking business in this region," he said.

Private bank's CD issuances to stay strong amid liquidity tightening

RBI's August monetary policy review asked banks to maintain an incremental cash reserve ratio of 10%

Nifty Private Bank index looks weak on charts; check key buying levels

Technical charts indicate a potential support zone between 22,510 and 22,350 for the Nifty Pvt Bank index

Indian private credit funds, non-bank lenders filling gap left by banks

Private credit funds lend to these companies at 12%-18%, splitting transactions into tranches. The riskiest of such credit can yield up to 20%-24%

Nifty Financial Services exhibits bullish trend; buy near support levels

According to Ravi Nathani, an independent technical analyst, support levels are projected at approximately 19,525 and 19,425 for Nifty Financial Services index

Banks to remain shut for 14 days in August 2023, check full list here

Banks will remain shut for a total of 14 days in the month of August. However, banking services like Internet banking and ATMs will remain operational throughout the country on all holidays

With above 33% attrition, pvt banks find it tough to retain junior staff

Industry experts say that the resignations could be largely attributed to young employees taking a second look at their life decisions and career choices

Wage bill of listed pvt. companies up 17% at Rs 11.5 trn in FY23: Report

The rising trajectory of private corporate wage bill appears structural, having grown from around 9 per cent of GDP in FY12 to around 13 per cent in FY22

HDFC Bank offers interoperability of UPI and CBDC QR code payments

Private lender had more than 100,000 customers and 170,000 merchants under pilot programme

HDFC Bank-HDFC's combined loan book up 13.1%; deposits up 16.2% in Q1

Sequentially, merged entity's advances rose by 0.7% to Rs 22.30 trillion as of March 31

Trading strategies for Nifty PSU Bank, Private Bank indices

Ravi Nathani, independent market analyst decodes technical charts for Nifty PSU Bank and Private Bank indices; check out

Federal Bank Q1 advances up 21%; deposits grow 21.4% to reach Rs 2.22 trn

Retail credit book grows by 20.2% YoY, says private bank in stock exchange statement

Banks are to remain closed for 15 days this month; check details here

According to the Reserve Bank of India's (RBI) list of holidays, 8 holidays are state-specific holidays for various celebrations across various states alongside others are weekend holidays

Nifty Pvt Banks index may weaken; avoid shorting PSU Bank index

According to Ravi Nathani, an independent technical analyst, the short-term trend for the Nifty PSU Bank Index is bullish, indicating a positive outlook in the near term.

High investor interest propels IDFC First Bank's stock to new highs

Lender's financial performance has been robust but high valuations may cap further gains

Pvt banks' slippages from Covid recast nearly double than that of PSBs

Private sector banks' slippages and write-offs from loans restructured after the COVID-19 pandemic are nearly double than that of their state-owned peers, a report said on Friday. Private sector banks have seen slippages and loan write-offs at 44 per cent, as against 23 per cent in case of public sector banks, the report by India Ratings and Research (Ind-Ra) said, calling the trend surprising. The domestic rating agency analysed annual results of lenders for FY23. It found that the peak of restructured assets in bank books was in September 2022, when the overall quantum of recast loans had touched Rs 2.2 lakh crore. While there could be some more slippages, banks are of the view that the performance of the restructured portfolio would broadly mirror the performance of the overall portfolio, it said. It can be noted that in the aftermath of the pandemic, which led to a hasty lockdown that led to a contraction in the economy, the RBI had announced a restructuring scheme followed by

RBI-appointed panel suggests host of customer-centric initiatives for banks

An RBI-appointed panel on Monday recommended hosts of customer-centric initiatives for banks, including online settlement of claims by heirs of deceased account holders, flexibility for submission of life certificates by pensioners and a centralised KYC database. The report of the Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) has also suggested that the operations of accounts should not be stopped pending periodic Know Your Customer (KYC) updates. It recommended that there should be a time limit for the return of property documents to borrowers after the closure of the loan account, failing which a penalty should be imposed on the lender. In case of loss of property documents, the RE should not only be obligated to assist in obtaining certified registered copies of documents at their cost but also compensate the customer adequately, keeping in view the time taken to arrange the alternate copies of the documents, the report said. In May last year

Q4 results: Private sector banks post 9.7% decline in net profit

Axis bank's one-time charge for Citibank's consumer biz acquisition shows impact Annual profit grow by hefty 25.3% in Fy23

DCB Bank's net profit increases 25% to Rs 142 crore in March quarter

Private sector lender DCB Bank on Friday posted a 25 per cent increase in its net profit to Rs 142 crore in the quarter ended March 2023. The Mumbai-based lender had posted a net profit of Rs 113 crore in the year-ago period. Total income during the January-March quarter of FY23 rose to Rs 608 crore from Rs 495 crore in the same period of FY22, the bank said in a statement. The Gross NPAs as of March 31, 2023, were 3.19 per cent. Net NPA was at 1.04 per cent as of March 31, 2023. Both Gross NPA and Net NPA declined sequentially as well as in comparison to last year, DCB Bank said. For the full 2022-23 fiscal, the bank's net profit jumped by 62 per cent to Rs 466 crore compared to Rs 288 crore in 2021-22.