Page 9 - Private Banks

RBI asks private banks to have at least two whole-time directors: Explained

The Reserve Bank of India has directed private sector banks and wholly-owned subsidiaries of foreign banks to have at least two whole-time directors in addition to the MD and CEO

Axis Bank Q2FY24 result: Net profit up 10% at Rs 5,864 crore, NII up 19%

Axis Bank's gross non-performing assets (NPAs) stood at 1.73% as compared to 1.96% in the previous quarter

ICICI Bank Q2 net profit rises 35.8% on lower provisioning, higher income

Bank reported 23.81% increase in net interest income

Global investment in Indian banks to continue on robust finances: S&P unit

Majority of foreign institutional investors' holdings concentrated in biggest 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