Intense competition among banks for corporate loans has led to Axis Bank being selective as it seeks to protect pricing; net profit in Q1 rises 91% to Rs 4,125 crore.
Axis Bank clears another hurdle in completing its acquisition of Citibank’s consumer business in a deal worth Rs 12,325 crore; Competition Commission of India approves proposed deal.
ICICI Bank reports 49.6% YoY rise in net profit to Rs 6,904.94 crore in Q1 on back of robust credit growth, improving asset quality and lower provisions.
IndusInd Bank’s asset mix is conducive to achieve a NIM of 4.15%-4.25% in FY23 even as deposit rates are on the rise amid RBI’s monetary tightening cycle, said chief executive officer Suman Kapathalia.
State Bank of India has received board approval to raise up to Rs 11,000 crore through issuance of bonds in FY23.
As long as USD continues to strengthen due to Fed’s hawkishness and fear of global recession, USDINR can continue to move higher, but at a slow speed, guided by RBI. We could see levels of 80.50/81.00 over the next medium term.
NCLT orders insolvency resolution proceedings against Future Retail and rejects objection raised by Amazon, which is involved in a bitter legal tussle with the debt-laden company.
Former RBI Deputy Governor R Gandhi and professor Ananth Narayan Gopalakrishnan cease to be additional directors on the board of Yes Bank; this follows alternate board constituted by bank as per RBI’s directive.
Federal Bank posts 63.53% YoY jump in net profit to Rs 600.66 crore in Q1, from Rs 367.29 crore a year ago.
Bank of Maharashtra’s fiscal first quarter net profit more than doubled to Rs 451.90 crore compared to Rs 208.01 a year ago amid strong growth in advances and an improvement in net interest margin.
Federal Bank has been fined Rs 5.72 crore by RBI for deficiencies in regulatory compliance; Bank of India is fined Rs 70 lakh.
HDFC Bank reports 19% YoY rise in standalone net profit to Rs 9,195.99 crore in Q1, after absorbing mark-to-market loss of Rs 1,311.7 crore.
Enlarged balance sheet post merger will result in higher credit growth for economy, says chairman Atanu Chakraborty; bank also working to enable new-age consumer experiences by partnering with modern neotechs.
SBI hikes MCLR on loans by 10 basis points with effect from 15 July; the bank had raised the MCLR by 20 basis points last month.
Bank credit grew by 13.29% to Rs 123.81 lakh crore and deposits by 9.77% to Rs 169.61 lakh crore in the fortnight ended on July 1, RBI data showed.
