Axis Bank’s loan book in Q4 of FY22 grew 15% YoY while deposits surged 19%. Asset quality improved with net NPA dropping to 0.73%.
Surge in Q4 net profit came on back of healthy growth in net interest income and steep fall in bad loan provisions; Bank of Maharashtra to raise Rs 5,000 cr in FY23.
Top management of LIC will exit from IDBI Bank soon, said DIPAM secretary Tuhin Kanta Pandey; motion is in process, he added.
ICICI Bank ED Vishakha Mulye will join Aditya Birla Capital on 1 June; Rakesh Jha to be wholetime director and Anindya Banerjee take over as group CFO of ICICI Bank.
ICICI Bank Q4 net up 59.4% to Rs 7,018.71 crore on the back of improved asset quality, less provisions and a strong loan book growth.
Bank of Baroda reduces home loan interest rates by 25 basis points to 6.50%; many of the bank’s home loan portfolio got refinanced by other banks at lower rates of interest.
The pre-requisite is a minimum net-owned fund of Rs 100 crore and subject to such terms and conditions as the RBI may specify in this regard from time to time.
As per the RBI rules, issue of unsolicited cards and upgradation of existing cards without prior consent from customers is prohibited; there are other tightening of rules.
RBI has laid down new guidelines for NBFCs on large exposures, lending to directors and sought additional disclosures in their notes to accounts.
Geo-political hostilities have put pressure on India’s inflation, trade shocks and portfolio outflows, RBI said in its April bulletin.
HDFC Bank posts net profit of Rs 10,055.2 crore in Q4, up 23% year-on-year, following improvement in asset quality and lower provisions.
HDFC Bank’s wholesale loans have shown robust growth despite Rs 65,000-crore of repayments from lender’s large corporate clients during financial FY22 as coronavirus pandemic hit investments in economy.
Bank of India has dragged Future Retail to the bankruptcy court for non-payment of dues, a move that can impact the Rs 24,713-crore asset sale deal signed between the Kishore Biyani company and Reliance Industries Ltd.
Led by food items, CPI inflation stands at 6.95% in March, the highest since October 2020; inflation may remain elevated in coming months as well.
Shriram City Union Finance has launched the gold loan facility in seven states of north India; targets Rs 15,000-20,000 cr over 5 years.
