Page 7 - Private Sector Banks

Strong Q2 results drive earnings, target price upgrades for SBI, BoB

Analysts see up to 31 per cent and 17.6 per cent upside in SBI and BoB's stock, respectively, from a one-year perspective

HDFC Bank posts 23.5% loan growth in second quarter at Rs 14.8 trn

Private sector HDFC Bank on Tuesday said it has registered a 23.5 per cent rise in loans to Rs 14.80 lakh crore in the second quarter of this fiscal. The credit book was Rs 11.98 lakh crore as of September 30 last year. Gross of transfers through inter-bank participation certificates and bills rediscounted, the bank's advances grew by around 25.8 per cent over September 30, 2021, HDFC Bank said in a regulatory filing. The bank's deposits aggregated to approximately Rs 16.73 lakh crore as of September 30, 2022, nearly 19 per cent higher from Rs 14.06 crore as of September 30, 2021, it added. During the quarter ended September 30, 2022, the bank purchased loans aggregating Rs 9,145 crore through the direct assignment route under the home loan arrangement with parent firm Housing Development Finance Corporation Limited. Earlier in April, India's largest private lender HDFC Bank agreed to take over the biggest domestic mortgage lender in a deal valued at about USD 40 billion, creating

HDFC Bank is now ten times bigger than the crisis-struck Credit Suisse

Along with HDFC Bank, several Indian banks have a higher m-cap than the crisis-struck Swiss bank, including ICICI Bank, SBI, Kotak Mahindra Bank, Axis Bank and IndusInd Bank

TMB stock ends flat as RBI rejection of proposed chairman has little impact

RBI advised private sector lender to submit a fresh proposal of another Independent Director for the post of Chairman

'Investors are building all data points into their market assessment'

Ajay Argal of Franklin Templeton believes that any change in stance to lower the pace or the quantum of rate hikes could provide an interim positive trigger for the markets.

YES Bank soars 35% in 3 months; stock at 20-month high on improved outlook

In August, CRISIL upgraded the rating on Tier-II bonds (under Basel III) and Infrastructure Bonds of YES Bank to 'CRISIL A-' from 'CRISIL BBB+' and revised its outlook to 'Positive' from 'Stable'

SBI sells largest AT-1 tranche at lowest rate for any bank so far this year

The bank had notified an amount of Rs 7,000 crore to be raised through a single tranche of AT-1 bonds in order to augment capital.

HDFC Bank hikes MCLR by 10 bps across loan tenures, effective Sep 7

Second rate hike in two months by lender after RBI's rate setting committee hiked benchmark repo rate by 50 bps to 5.4%; new MCLR at 7.90-8.40%

Axis Bank ties up with PayNearby, aims to boost priority sector lending

Private lender's portfolio of rural loans was at Rs 58,800 cr at the end of the first quarter this financial year

Existing players will join once penetration crosses single digits: ONDC CEO

In a Q&A, T Koshy, dwells on the network's national road map, challenges in onboarding small retailers, and the value proposition for customers

ICICI Bank market-cap hits Rs 6 trillion; stock rallies 26% in 2 months

ICICI Bank now joined the elite club of companies having market capitalisation (market-cap) of over Rs 6 trillion

Q1 results: Private banks' net profit rises 47% on fall in provisions

Loan repricing, high loan growth buttress NII

Axis Bank Q1 net profit jumps 91% to Rs 4,125 crore on firm NII growth

MD says he hopes to get CCI nod for Citi's consumer biz deal in 6-8 weeks

IndusInd Bank's board approves fundraise of up to Rs 20,000 crore

The bank's board also approved the re-appointment of Akila Krishnakumar as non-executive independent director

YES Bank, JC Flowers in pact for ARC in bid to seal largest ever NPA deal

This is being termed the single-largest bad loan deal

FSIB recommends former Union Bank of India MD for post of NaBFID MD

The Centre, earlier this month, transformed the Banks Board Bureau into FSIB and expanded the headhunter's role to suggest appointments for PSU banks, insurance companies and financial institutions

ED probing some entities, employees over irregularities, says IndusInd Bank

IndusInd Bank says it has no credit exposure to the entities being investigated

Govts should mobilise more domestic resources via tax reforms: Albert Park

In an Q&A, ADB Chief Economist Albert Park tells that countries in region may not be able to carry on with large expenditures and social transfers meant for pandemic, given rising debt burden

Confident of delivering value on bid for Citi India deal: Axis Bank's Moghe

India's third-largest private lending is purchasing the retail business in a transaction worth Rs 12,235 crore

Private banks are better money managers, state-owned lenders grow faster

They witnessed higher gains from parking funds with RBI and income from investments; as rates rise, space for both would shrink