Page 4 - Private Sector Banks

Indian Bank to disburse Rs 20,000 crore to self-help groups in FY26

Public sector Indian Bank has set a target to disburse Rs 20,000 crore to Self Help Groups nationwide during the current financial year, an official said. The city-headquartered bank conducted a 'Mega SHG Credit Outreach Programme' in Bhubaneswar towards this vision. Government of India, Department of Financial Services, Secretary M Nagaraju, the bank's MD and CEO Binod Kumar and executive director Mahesh Kumar Bajaj were present on the occasion, a press release said on Sunday. As part of a pan-India initiative by the Department of Financial Services, the programme in Odisha marks Indian Bank's contribution to the national mission of empowering one crore SHG Women with 'Credit Access,' the release said. A total of 9,961 Self Help Groups received sanction letters amounting to Rs 509.91 crore providing financial support to grassroots women entrepreneurs on the occasion. The event also aligns with the government's focus on 'Viksit Bharat 2047', aiming for an inclusive growth and ...

IndusInd Bank elevates Santosh Kumar as deputy CFO effective April 18

Kumar to lead bank's finance and accounts functions

IDFC First Bank slips 4% after board approves ₹7,500 crore fund raise

The bank's board approved preferential issue of equity capital (CCPS) amounting to ₹7,500 crore to Currant Sea Investments B.V. and Platinum Invictus B 2025 RSC.

HDFC Bank hits record high, rallies 7% in 3 days ahead of Q4 results

HDFC Bank remains an outlier among banks because of its strong asset quality performance, given the rising stress, especially in the unsecured segment.

External audit agency uncovers Rs 1,979 crore impact on IndusInd Bank

The bank said it received the report from the external agency on April 15

Internal restructuring to ensure seamless solutions, says Yes Bank

The internal restructuring is a strategic initiative designed to ensure seamless and consistent solutions at every touchpoint

HDFC Bank gains Rs 1.5 trn in deposits, CD ratio drops to 97% in Q4

As a result, HDFC Bank's credit-deposit (CD) ratio declined to 97 per cent at the end of March 2025, a drop of 800 basis points (bps) since March 2024

HDFC Bank's deposits increase 14%, gross advances grow 5.4% in Q4

The bank has securitised Rs 57,000 crore of loans in FY25, and in Q4 alone, the bank has securitised Rs 10,700 crore of loans

HDFC Bank reduces deposit rates by 35 bps and 40 bps on select FDs

Now, the bank is offering a 7 per cent interest rate on deposits of up to Rs 3 crore for 35-month and 55-month tenures

ICICI Bank refutes allegations of illegal staff termination

Terms allegations of termination of 782 employees 'voluntary abandonment of services'

Axis Bank eyes up to Rs 4,000 crore from stake sale in Axis Finance

Sale proceeds for capital infusion in arm; sale likely in 3-6 months

HDFC Bank raises MCLR on overnight tenure by 5 basis points to 9.20%

With this revision, the bank's MCLR now ranges from 9.20 to 9.45 per cent

Budget proposal of Grameen Credit Score to help credit discipline: Experts

It will weed out fraudulent borrowers and self-help group members, they say

Bandhan Bank Q3 result: Profit falls 42% to Rs 426 cr due to bad loans

Private lender Bandhan Bank on Friday reported a 42 per cent decline in its net profit for the third quarter of the current financial year at Rs 426 crore as compared to Rs 733 crore in the year-ago period. Lender's MD and CEO Partha Pratim Sengupta said that the drop in net profit was primarily due to a change in accounting procedure and an additional provision of Rs 336 crore for loans, which turned bad, during the October-December quarter. He said accounting for the Employee Stock Option Scheme (ESOP) also impacted the net profit to the tune of Rs 166 crore. Sengupta told reporters that the bank has drawn up a strategy for its next phase of growth. He said the strategy is "to be more secular in its approach as a large contribution is coming from the microfinance sector which is facing challenges. More stress will be given on liability products and digital banking". The bank's net revenue during the third quarter of the current fiscal stood at Rs 3,926 crore as compared to Rs 3,

Tamilnad Mercantile Bank Q3 results: Net profit rises 6% to Rs 300.24 cr

Private sector Tamilnad Mercantile Bank Ltd has reported a net profit of Rs 300.24 crore for the October-December 2024 quarter, up by 6 per cent, driven by continued growth in core lending and deposit businesses, a top official said on Wednesday. The Tuticorin-based bank had registered a net profit of Rs 284.23 crore during the corresponding quarter of last financial year. The net profit for the nine month period ending December 31, 2024 went up to Rs 890.71 crore, from Rs 818.97 crore registered in the year ago period. The total income during the quarter under review went up to Rs 1,519.94 crore from Rs 1,387.13 crore registered in the year ago period. For the nine month period ending December 31, 2024 the total income grew to Rs 4,599.69 crore as against Rs 4,075.24 crore registered in the corresponding period of last financial year. "We have achieved year-on-year growth of 6 per cent in net profit in Q3FY25, driven by continued growth in our core lending and deposit businesses. W

Karur Vysya Bank now operates 475 branches, including 2 new ones in TN

Private sector Karur Vysya Bank has inaugurated two more branches, taking the overall branch network to 475 in Tamil Nadu, the bank said on Sunday. The Tamil Nadu-based bank inaugurated two branches, one each in Chennai and the other at Tiruchirappalli. According to a press release, during the current financial year, the company has added 28 new branches, taking the overall presence of the banking network to 866 across the country. The new branches would provide basic banking transactions and would also address the specific needs of customers. It would also provide banking and financial services covering retail, institutional and consumer lending. As on September 30, 2024, the bank's total business stood at Rs 1,76,138 crore with a deposit base of Rs 95,839 crore and advances at Rs 80,299 crore. In the last financial year, the bank recorded its highest net profit of Rs 1,605 crore, the release added.

IndusInd Bank share drops 3%, hits 52-week low as UBS slashes target price

The fall in the IndusInd Bank share price came after Zurich, Switzerland-based brokerage UBS slashed its target price to Rs 1,150 per share, according to reports

Interest rates not primary driver of deposit growth for private lenders

Top executives from private sector banks were in a conversation with Tamal Bandopadhyay at the Business Standard BFSI Insight Summit 2024

Yes Bank looking to sell Rs 635 cr of non-performing unsecured loans

JC Flowers seeks counter bids to sell Rs 1,290 cr of erstwhile Yes Bank loans

Do you fear low credit score? Keep away from one-time loan settlement

If someone is nearing default, they must act quickly to avoid it, as recovery from default takes time