Page 4 - Small Finance Banking

SFBs can turn into universal banks, say experts at BS BFSI Summit 2023

There is nothing to stop our firm from turning into a Universal Bank, said Ittira Davis, managing director and chief executive officer of Ujjivan Small Finance Bank

Some NBFCs are bigger than many banks, says CEO Aditya Birla Finance

"There is a harmonisation of policies and regulations for upper-scale NBFCs and banks in terms of capital requirements and asset categorisation," Rakesh Singh of Aditya Birla Finance said

Fincare SFB to merge with AU Small Finance Bank in all-share deal

At present, AU's market capitalisation is Rs 46,000 crore, the highest among small finance banks. The market capitalisation of the merged entity will be slightly over Rs 50,000 crore

Banks offering up to 9 per cent interest: Top fixed deposit rates right now

Unity Small Finance Bank offers 9.5 per cent interest rate on senior citizens fixed deposit for 1001 days tenure as of October 25, 2023

North East Small Finance Bank to sell over Rs 600 crore stressed assets

Consequently, credit costs are expected to start tapering down gradually, leading to normalisation in profitability in the normal course of business

AU SFB to Ujjivan SFB: Where do small finance banks go from here?

UCBs that aspire to become SFBs do not want the same limits on loan size and priority sector targets that SFBs have, especially when not many of them have sought to become SFBs

Premium cards to higher rates: How small saving banks are luring depositors

While large lenders are resorting to special schemes, small savings banks are rolling out special cards, higher interest rates on savings accounts and competitive fixed deposit rates too.

You can earn up to 7.25% on your savings account with this bank: Details

With the new interest rate, the Bank is reinforcing its commitment to promoting a culture of savings thereby building financial corpus and in turn, self-reliance.

Jana Small Finance Bank refiles IPO papers, seeks to raise Rs 575 cr

The offer consists of fresh issue of shares worth up to 5.75 billion rupees ($70 million) and an offer for sale of up to 4.1 million shares, according to the draft herring prospectus

Utkarsh Small Finance Bank's IPO subscribed 4.2x on day 1 of issue

The company is issuing fresh shares worth Rs 500 crore in the IPO, which will be used for augmenting the bank's tier-1 capital base

Utkarsh Small Finance Bank raises Rs 222 crore from anchor investors

The price band for the issue is Rs 23-25 per share. At the top end, Utkarsh SFB will have a market cap of Rs 2,740 crore post-dilution

Ujjivan SFB Q4 net profit rises 144% to Rs 309 crore, declares dividend

The bank's gross non-performing asset stood at 2.88 per cent and its net NPAs were at 0.04 per cent

Small biz focused Ugro Capital to raise Rs 340 cr in equity capital

Small businesses focused fintech Ugro Capital on Tuesday said it will raise Rs 340 crore in equity capital through a preferential allotment and qualified institutional placement. The company said its board approved Rs 240 crore worth of shares to IFU (Investeringsfonden for Udviklingslande), a Danish sustainable development goals investment fund, on a preferential allotment basis. Another Rs 101 crore will be raised from long-term shareholders like insurance companies, AIFs, and other financial institutions through a qualified institutional placement. It did not say when the money will be raised. The company has already entered into a definitive investment agreement with IFU, a Denmark government-owned fund offering risk capital to companies in developing countries and emerging markets. The new fundraising, its second equity capital raising after the first round in 2018, when it had mopped up Rs 900 crore, will primarily be used for onward lending to MSMEs, Ugro Capital vice chairma

Equitas Small Finance Bank hits fresh 52-week high; stock up 38% in a month

On February 8, the board approved allotment of 789.5 million equity shares (swap ratio at 231:100) of Equitas SFB to the eligible shareholders of the erstwhile Equitas Holdings.

Corporate India's new mantra for employees on leave: Do Not Disturb

Plan your own leave, unlimited paid vacation days, and multiple leave options are India Inc's attempt at respecting time off

SFBs hope to give large private banks a run for their money: BFSI panelists

When we started five years ago, we thought it would be a marathon but it has turned out to be a steeplechase: Samit Ghosh

BS BFSI Insight Summit 2022: SFB leaders discuss big dreams of small banks

Here is the list of leaders from Small Finance Banks on panel for the BS BFSI Insight Summit 2022

Suryoday SFB reports Rs 13-cr Q2 net against Rs 1.92-cr loss a year ago

On a sequential basis, the bank's net profit rose 67.7 per cent from Rs 7.75 crore in April-June

Shivalik SFB raises Rs 111 crore from venture capital firms, Bharti AXA

Shivalik Small Finance Bank on Wednesday said it has raised Rs 111 crore from two global venture capital firms and Bharti AXA Life Insurance. The two global venture capital firms that participated in the funding round are Accel and Quona Capital. The bank plans to use the funds to enhance its tech stack, strengthen team, and deepen partnerships as it moves to become the go-to bank for Indian MSMEs, it said. The Noida-based bank is the first to have transitioned from an urban cooperative bank with 23 years of experience in offering retail banking products and services. The bank has over 5.6 lakh customers and operates through 46 branches and 21 exclusive Business Correspondent branches across northern India. We are on a promising track of growth-focused tech-driven innovations and strategic partnerships in the financial services space. This investment will help us accelerate our growth as we look to leverage digital banking adoption by small business and retail customers, Anshul Sw

SFBs need Rs 4,000 cr capital to maintain 30% CAGR in advances: CareEdge

Capital raising delayed amid volatile markets, lower risk apetite among investors