Page 11 - Psu Banks

PSU banks plan rationalisation of another 69 overseas offices in 5 months

As on January 31, 2018, PSBs had about 165 overseas branches, besides subsidiaries, joint ventures and representative offices

PSU banks trade firm; Bank of India rallies 30% in 10 days

Bank of India, Oriental Bank of Commerce, Union Bank of India, Canara Bank, BOB, PNB, Indian Bank and SBI were up in the range of 1% to 4% on the NSE.

PSU banks need more capital; don't rush to buy them now, say analysts

After the RBI's day-long board meet on Monday, the central bank decided to consider relaxing lending norms for banks under the PCA

Turnaround in bad loans not in sight yet for PSU banks

Tighter NPA recognition norms led to a surge in bad loans over the last two years. But overall NPAs have reduced and provisioning has also reduced in the last two quarters

Two global firms to help BBB select, train the right men for top PSB jobs

Two global personnel advisory firms, Korn Ferry and Egon Zehnder, will assist the Banks Board Bureau (BBB) to assess people for top jobs and in leadership development at public sector banks (PSBs).A BBB functionary said Hay Consultants (part of Korn Ferry) and Egon Zehnder have already begun work in this regard.Korn Ferry has been in the news for a mandate from private lender YES Bank to assist their board of directors' panel in selecting a new managing director and chief executive (MD & CEO), to succeed incumbent Rana Kapoor. Four entities were earlier considered for this mandate.Hay Consultants is apparently to assist BBB in assessing the capabilities of those considered for appointment as MD & CEO and as executive directors at PSBs. Egon Zehnder, said a source, will work as a 'knowledge partner' to design, implement and institutionalise a leadership development strategy for state-owned banks. A senior executive with a Mumbai-based bank said the need for these functions has .

Baroda-Vijaya-Dena Bank merger: Here are the challenges and expectations

Whether the merger constitutes meaningful reform at the present time is, however, open to question

Facing trouble, Indian public sector banks need leaders but are headless

Four of the country's 21 state banks have yet to appoint replacements for departed chief executive officers, and another has seen its CEO stripped of her powers due to fraud charges

Street signs: PSU banks in demand, dip in Symphony stocks and more

India's leading air cooler maker Symphony has witnessed an unusually hot summer with its stock falling more than 20 per cent in the past month

Despite SBI reporting Rs 77-bn loss in Q4, worst is likely over for PSBs

Balance sheet clean-up boosts investor confidence, experts expect earnings to improve in FY19

PSU banks gain as RBI lets banks spread bond losses in 4 quarters

Nifty PSU Bank index rose over 2% with all its constituents trading in green in early morning deals.

RBI's measures are good; be selective in buying PSU banks, say analysts

Banking stocks came under selling pressure on Wednesday after the Reserve Bank of India (RBI) unveiled new norms for dealing with non-performing assets (NPAs) on Monday. Nifty PSU Bank was the worst performing index, falling over 3% in intra-day deals with Punjab National Bank, Bank of India, Canara Bank, IDBI and Oriental Bank of Commerce slipping 4.3% to 7%.The fall comes on the back of a revised framework on resolution of stressed assets issued by the RBI, which is likely to increase the reported non-performing asset (NPA) levels of the banks in coming quarters. From a long-term perspective, however, analysts see the new rules helping early identification of stress and resolution of issues. Not only will the move promote better credit discipline, they see it as a precursor to implementation of International Financial Reporting Standards (IFRS) going ahead."Corporate banks with higher quantum of stressed / restructured assets (Canara Bank, PNB, Bank of India, Union Bank, SBI and ...

PSU bank stocks in limelight; shares gain up to 8.5%

Parliament's approval has been sought for 'meeting additional expenditure towards recapitalisation of Public Sector Banks through issue of government securities' said ministry

PSU banks rally on recap plans; add Rs 1.1 lakh cr to m-cap, PNB gains most

Credit Suisse raised state-run lenders to 'a strong overweight position' from 'underweight'

Nifty PSU Bank index hits fresh 9-month low

Shares of public sector banks (PSBs) came under pressure with the Nifty PSU Bank index hitting fresh nine-month low on the National Stock Exchange (NSE). The index hit an intra-day low of 2,958 - its lowest level since January 6, 2017 - and has slipped 20% from its recent closing high of 3,723 on July 31, 2017.By comparison, the benchmark Nifty 50 was up 1.4%, while Nifty Bank (down 3%) and Nifty Private Bank index (down 1%) were down less than 4% during the period.Among individual stocks, State Bank of India (SBI), Oriental Bank of Commerce and Corporation Bank have lost 20% to 23% in past two-and-a-half months. Union Bank of India, Vijaya Bank, Punjab National Bank, Punjab & Sind Bank, Bank of India, Bank of Baroda and Canara Bank down 16% to 19% during the period.The fall on Wednesday was triggered by Axis Bank that lost nearly 9% to Rs 468 levels following its September quarter numbers that showed worsening asset quality. The bank's gross non-performing assets (NPAs) and net ..

Nifty PSU Bank index hits 9-month low

Shares of public sector banks (PSBs) are trading lower for the second straight day, with the Nifty PSU Bank index hitting nine-month low on the National Stock Exchange (NSE). The index hit an intra-day low of 3,002, its lowest level since January 11, 2017, and has slipped 18.5% from its recent closing high of 3,723 on July 31, 2017. By comparison, the benchmark Nifty 50 was down marginally by 0.58%, while Nifty Bank (down 4%) and Nifty Private Bank index (down 2%) were down less than 5% during the period.Among individual stocks, State Bank of India (SBI), Oriental Bank of Commerce, Vijaya Bank, Corporation Bank, Union Bank of India and Punjab National Bank (PNB) have lost 19% to 22% in past two-and-a-half months. Bank of Baroda, Punjab & Sind Bank, United Bank of India and IDBI Bank are trading close their respective one-year lows on the NSE."The non-performing asset issue with PSU banks is already known. What's surprising is de-growth / subdued growth in the business itself. For .

A change of stance on PSU banks

The transition to IFRS, which Indian banks are required to comply with starting 1 April 2018, is also likely to front-load loan losses for banks

Public sector banks choke on bad loan mess

Double whammy for banks as advances fall and low capital adequacy hampers growth

PSU banks' recapitalisation challenging, say analysts

Acharya's suggestions on the issue are good, how to go about these is the problem, say stakeholders

PSU banks need Rs 1.9 lakh cr additional capital by March 2019: S&P

PSU banks will need at least Rs 1.9 lakh crore additional capital by March 2019 as the lack of it will restrict their ability to write down non-performing loans, S&P Global Ratings said today. "We estimate that Indian banks may need a minimum of about USD 29.6 billion (Rs 1.9 trillion) over the next two years," S&P Global Ratings credit analyst Geeta Chugh said. Public sector banks will need substantial capital to make large haircuts on loans to unviable stressed projects and to meet rising Basel III requirements, S&P said. "The lack of capital restricts the ability of India's public sector banks to write down non-performing loans to more accurate levels. Weak profitability and rising capital demands from Basel III implementation will also continue to pressure the capitalisation of many of these banks," Chugh said. The US-based agency said PSU banks will have to look for alternate sources to increase their capitalisation. "India's public sector banks face three key ...

10 PSU banks submit turnaround plans

Indian Overseas Bank is currently in the process of preparing its turnaround plan