Page 4 - Small Finance Banks

BS BFSI Summit: From Sanjay Agarwal to Inderjit Camotra, meet SFBs experts

Small Finance Bank CEOs Panel's theme on October 31: Can SFBs become universal banks?

AU Small Finance Bank Q2 results: Net profit up 17% to Rs 402 crore

AU Small Finance Bank on Saturday reported 17 per cent rise in standalone net profit at Rs 402 crore for September quarter 2023-24 aided by improvement in interest income. The Jaipur-based lender had logged a net profit of Rs 343 crore in the year-ago period. Total income rose to Rs 2,957 crore from Rs 2,240 crore in the same period a year ago, AU Small Finance Bank said in a regulatory filing. Net interest income of the bank improved to Rs 1,249 crore from Rs 1,083 crore in September 2022. Net interest margin stood at 5.5 per cent at the end of September 2023. The bank's gross non-performing assets (NPAs) stood at 1.91 per cent of gross advances at the end of the September quarter 2023 as against 1.90 per cent a year ago. Net NPAs or bad loans rose to 0.60 per cent as against 0.56 per cent in the year-ago period. The Capital Adequacy Ratio of the bank decreased to 22.4 per cent from 23.3 per cent at the end of September 2022.

Top-flight PSB boards needed for resilience

Asset quality of lenders has improved, but financial resilience in a system is best built in good times. It is time for the RBI to press the governance accelerator

Only no objection certificate given for NE SFB-Slice merger proposal: RBI

No change in approach to banking license to fintechs

Riding on high NII and other income, SFBs witness 59% profit growth

Healthy NII and other income boost bottlomline

Utkarsh Small Finance Bank makes solid debut with 60% listing gains

Shares of Utkarsh Small Finance Bank listed at Rs 40, a 60 per cent premium over its issue price of Rs 25 per share on the National Stock Exchange (NSE) on Friday

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 IPO: Should you subscribe to the lender's offer?

Utkarsh Small Finance IPO: The price band for the issue, which runs between July 12 and July 14, has been fixed as Rs 23-25 per share

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

Utkarsh SFB sets price band of Rs 23-25 per share for its July 12 IPO

The offering includes a provision to reserve 1% of the total issue size for its employees, equating to Rs. 5 crore shares

ESAF Small Finance Bank refiles IPO paper, lowers issue size to Rs 629 cr

ESAF Small Finance Bank has refiled preliminary papers with capital markets regulator Sebi to raise Rs 629 crore through an initial public offering (IPO). The lender has cut down the issue size, which now comprises fresh issue equity shares aggregating to Rs 486.74 crore and an offer for sale (OFS) of Rs 142.3 crore, according to the draft red herring prospectus (DRHP) available with Sebi on Monday. Those selling shares in the OFS are promoter -- ESAF Financial Holdings Private Ltd and other shareholders -- PNB MetLife India Insurance Company Ltd, Bajaj Allianz Life Insurance Company Ltd. At present, ESAF Financial Holdings owns a 62.46 per cent stake in the small finance bank, while PNB MetLife and Bajaj Allianz Life owns 4.75 per cent and 3.89 per cent stake in the lender, respectively. Proceed of the fresh issue will be utilised to augment the bank's Tier 1 capital base. The fresh filling came after ESAF Small Finance Bank's managing director and chief executive K Paul Thomas i

RBI rejects 3 'not suitable' applications for setting small finance banks

The Reserve Bank of India has rejected three applications, including the of West End Housing Finance, for setting up small finance banks. These applications were found not suitable for granting of in-principle approval to set up small finance banks, it said in a statement on Tuesday. RBI had received about a dozen applications to set up banks under the guidelines for 'on tap' Licensing of Universal Banks and Small Finance Banks (SFBs). In May last year, it announced the decisions on six applications. According to RBI, the examination of three more applications for setting up a small finance banks have been completed as per the procedure laid down under extant guidelines. Based on the assessment of the applications, the applicants "not found suitable" for granting of in-principle approval to set up a small finance bank are Akhil Kumar Gupta, Cosmea Financial Holdings Pvt Ltd and West End Housing Finance Ltd, it said. The central bank also said that the remaining applications are u

Securitisation volumes see over 40% YoY uptick in 9-month of FY23: Crisil

The commercial vehicle segment witnessed 31 per cent growth and microfinance segment saw 14 per cent growth in the securitisation market

P N Vasudevan to continue as Equitas Small Finance Bank MD, CEO

In May, Vasudevan had said that he wished to move on from the bank in order to work for his trust

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

Interest subvention on KCC crop loan to continue in FY23, FY24: RBI

The government of India has approved the continuation of the Interest Subvention Scheme (ISS) with modification for the financial years 2022-23 and 2023-24, RBI said

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

Bharti Axa Life, Accel infuse over Rs 111 cr as equity in Shivalik SFB

The SFB, an urban coop bank earlier, has a large presence in UP and MP; It has over 560,000 unique customers and runs 46 branches and 21 exclusive Business Correspondent Branches across northern India