Page 6 - Private Sector Banks

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

Brokerages pick banks, infra and telecom for 2023 play; IT, metals may drag

The banking sector was a standout performer in 2022 with the Nifty PSU Bank rallying almost 70 per cent

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

Is it time to shift to private bank stocks?

The rally in public sector banks, after their impressive September quarter performance, may soon fizzle out. Should investors turn to their private peers for better returns?

Excess credit growth to limit Indian banks' loss-absorbing ability: Fitch

Rating agency warns capital base of PSBs may come under greater strain

Banking on tenure

Longer terms for PSB chiefs address the talent gap partly

Federal Bank ties up with JCB India to finance heavy equipment buyers

Federal Bank on Friday said it has tied up with JCB India to finance the prospective buyers of heavy construction equipment and boost its loan portfolio. The private sector lender said it has inked a memorandum of understanding (MOU) with JCB India, a leading manufacturer of earthmoving and construction equipment. This arrangement will boost the financing options for JCB's customers in India, Federal Bank said in a release. Under the arrangement, Federal Bank is the preferred finance partner of the construction equipment manufacturer, where JCB's customers can avail loans from the lender at competitive interest rates. With the government's focus on infrastructure development continuing to remain strong, there will be various opportunities to create synergies between the teams from JCB India and Federal Bank, Deepak Shetty, CEO and Managing Director of JCB India, said. "Importantly, it will give greater financing options to our customers while purchasing JCB machines both in urban

Keep eye on macroeconomic scene: RBI to banks amid deposit growth concern

Concerned over deposit growth lagging high credit offtake; seeks views on collection, IT infra, DBUs

RBI governor Shaktikanta Das to meet bank chiefs ahead of monetary policy

Like to discuss issues related to growth, interest rates

Billionaire Hinduja brothers end family feud on pact signed in 2014

The fight among Hinduja brothers was caused because of a pact signed by them in 2014 that said that 'everything belongs to everyone and nothing belongs to anyone'

Special FD rates, while attractive, lose the medium to long-term race

While you may begin allocating to them, keep some powder dry as rates could rise further