Six of these special rupee vostro accounts are with Russian banks and two with banks in Belarus; UCO Bank CEO Ashwani Kumar said four more have expressed interest.
SBI Cards and Payment Services reported 5% fall in Q1 net profit to Rs 593 crore due to deterioration in asset quality and compression in net interest margins.
Minister of state for finance Bhagwat Karad said scheduled commercial banks have recovered Rs 10,16,617 crore from bad loans between 2014-15 and 2022-23.
Punjab National Bank has no plans to further bring down its stake in PNB Housing Finance or give up its promoter category, CEO Atul Goel said; after rights issue, PNB’s stake in its housing finance arm fell from 32.52% to 28.15%.
FM Nirmala Sitharaman said public sector banks lent Rs 4.12 trillion to government-backed entities in FY23, down from Rs 4.93 trillion; Canara Bank top lender with Rs 187,813 cr, followed by PNB and SBI.
Yes Bank’s loan book grows 7.4% YoY to Rs 2,00,204 crore in Q1; deposits up 13.5% to Rs 2,19,369 crore, with CASA accounting for 29.4% of the mix.
Union Bank of India has identified 42 troubled accounts with outstanding of Rs 10,000 crore to be sold to NARCL, says CEO Manimekhalai.
First phase funding of Adani Group’s polyvinyl chloride project in Mundra will be taken by public sector banks, which will pick up bulk of tab of around Rs 14,500 crore.
The fund raise follows a reverse merger between parent IDFC Ltd and IDFC First Bank announced earlier this month.
Union Bank of India’s net profit rises 107.67% to Rs 3,236 crore in Q1; net NPA improves to 1.58% from 3.31% a year ago.
Bank of Maharashtra plans to raise Rs 2,000 crore from Tier I and Tier II bonds to meet credit growth; expects to keep NIM at 3.75%-3.85% in FY24.
HDFC Bank MD and CEO Sashidhar Jagdishan earned 62% more as his pay pack was Rs 6.51 cr in FY22; HDFC Bank deputy MD Kaizad Bharucha was paid Rs 10.03 crore in FY23.
RBI’s withdrawal call of Rs 2,000 notes and near total return of currency to system has led to deposit accretion hitting six-year high of Rs 191.6 lakh crore in June.
State Bank of India will set up a trustee company as its wholly-owned subsidiary for managing the Corporate Debt Market Development Fund.
Central Bank of India’s gross NPAs fall to 4.95% in Q1, the lowest since March 2013; Net NPA at 1.75% is lowest since September 2011.
