Page 6 - Private Sector Banks

Federal Bank Q3 net up 25% at Rs 1,007 cr, to propose names for next CEO

Thrissur-based lender's asset quality slips, expects to recover slippages

Federal Bank Q3 profit rises 25% to Rs 1,007 cr, NPAs down to 0.64%

Federal Bank on Tuesday posted 25 per cent increase in profit at Rs 1,007 crore for the third quarter ended December 2023. The bank had earned a net profit of Rs 804 crore in the same quarter a year ago. Total income increased to Rs 6,593 crore during the quarter under review from Rs 4,967 crore in the same period last year, Federal Bank said in a regulatory filing. The private sector bank earned an interest income of Rs 5,730 crore during the quarter compared to Rs 4,433 crore in the same period a year ago. Gross Non-Performing Assets (NPAs) of the bank declined to 2.29 per cent of gross loans by the end of December 2023 from 2.43 per cent a year ago. Similarly, net NPAs or bad loans came down to 0.64 per cent from 0.73 per cent at the end of the third quarter of the previous fiscal.

HDFC Bank's advances rise 62.4% to Rs 24.7 trn in December quarter

Retail deposits of the private sector major rose by Rs 53,000 crore during the quarter

Bank frauds increase, private sector lenders make more write-offs

Private banks in FY23 accounted for 74% of amounts written off due to fraud

RBI imposed monetary penalties worth Rs 40 crore on 211 entities in 2022-23

Out of 211, 176 penalties worth Rs 14.04 crore were alone imposed on cooperative banks, Bhagwat Karad told Lok Sabha on Monday

Private sector banks increase fixed deposit market share: RBI data

The market share in the first quarter of FY24 stood at 33 per cent for private banks and 61 per cent for PSBs

BS BFSI Summit: Chaudhry to Vaidyanathan, meet private-sector bank experts

Private-Sector Bank CEOs Panel's theme on October 31: Do private banks need to become tech companies?

RBI directs private banks to have at least two wholetime directors

Payments banks and local area banks are kept out of the minimum WTD requirements

MoS Finance urges pvt banks to push govt's financial inclusion programmes

Minister of State for Finance Bhagwat K Karad on Thursday urged private sector banks to push various financial inclusion programmes like Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana. Karad chaired a review meeting on the progress and performance of financial inclusion schemes, including preparedness under the PM Vishwakarma Scheme, with senior management of private sector banks here. During the meeting, he reviewed the progress of various financial inclusion (FI) schemes, including Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Pradhan Mantri Mudra Yojana (PMMY), Stand Up India and PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi). He also reviewed the progress of opening brick-and-mortar branches of banks in unbanked villages with a population of more than 3,000 people. Appreciating the efforts, he ..

Bank Holidays September 2023: Banks will remain shut for 16 days, list here

Banks will remain closed for 16 days in September 2023. Plan your bank visits accordingly to avoid last-minute hassle. ATM services and net banking facilities will remain operational

Private sector banks post robust 37% YoY growth in net profits in Q1

The rise in provisions and contingencies, that for standard loans and NPAs, was 10.8% YoY to Rs 9,596 crore in Q1Fy24

Private banks more aggressive in writing off bad loans than public banks

The ratio of write-offs to gross non-performing assets (GNPAs) in private banks was 47.9 per cent, much higher than 22.2 per cent in public banks

Mahila Samman Savings Certificate open to PSBs and some pvt sector banks

In case remittances are delayed beyond the specified period, the bank shall pay a penalty equal to the rate of interest payable to the depositor plus 0.5% or 1%, depending on period of delay

PSBs have a human capital problem: Do their top execs need a pay overhaul?

Nearly two decades after the Nayak committee's report, the competitive landscape in the financial world has completely changed

Demand for 5 days of work at banks hits speed bumps, likely to take time

Public sector banks will have to see that their business is not affected in case private banks decide to work on Saturdays

This private sector lender saw sharpest intra-day surge in 10 months

The sustenance of gold business as a proportion of book coupled with gradual improvement in non-gold segment to bring diversification and steady RoA are key triggers for future price performance.

FinMin meets private sector bankers, reviews progress of flagship schemes

The finance ministry on Tuesday held a meeting with private sector lenders to review progress made by them under the flagship financial inclusion and social security schemes. "Dr. Vivek Joshi, Secretary DFS chaired a meeting today with the representatives of Private Sector Banks, Small Finance Banks and Payment Banks to review the progress made by them under various Financial Inclusion initiatives (PMJDY, PMJJBY, PMSBY, APY, PM SVANidhi, etc.)," Department of Financial Services said in a tweet. Last week, Joshi met heads of public sector banks and urged them to achieve targets under various schemes for current financial year. During the meeting, progress of various social security (Jan Suraksha) schemes, including Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Pradhan Mantri MUDRA and Prime Minister Street Vendor's AtmaNirbhar Nidhi (PMSVANidhi), and Agri credit etc, we

HDFC Bank's Q3 net profit jumps 18.5% YoY on healthy interest income growth

Strong growth in net interest income boosts bottomline, provisions fall

HDFC Bank's profit rises 18.5% to Rs 12,260 crore in Q3, NII grows 24.6%

The country's largest private sector lender HDFC Bank on Saturday reported an 18.5 per cent increase in its standalone net profit at Rs 12,259.5 crore for the third quarter ended December 2022. The bank had earned a net profit of Rs 10,342.2 crore in the corresponding quarter of the previous fiscal year. Total income on a standalone basis rose to Rs 51,207.61 crore in the October-December quarter of FY23, as against Rs 40,651.60 crore in the same period of the previous financial year, HDFC Bank said in a regulatory filing. On the asset quality side, bank's gross non-performing assets (NPAs) remained flat at 1.23 per cent of gross advances as of December 30, 2022. Net NPAs too was flat at 0.33 per cent as compared to 0.37 per cent at the end of December 2021. Provisions and contingencies for the quarter ended December 31, 2022 were Rs 2,806.4 crore as against Rs 2,994 crore for the year-ago quarter, it said. Net interest income (interest earned less interest expended) for the quar

Here's why private banks' SME credit has grown four times faster than PSBs'

Bankers say private lenders have more risk appetite, faster response times, and are aggressive on pricing