Competition for deposits expected to continue for some time, says SBI chairman CS Setty; rather than rates, bank to focus more on customer service and wider network to drive deposit growth.
IDFC First Bank CEO Vaidyanathan expects load of high-cost legacy borrowings to fall to just Rs 5,000 cr by fiscal-end; speaks of bank’s strong deposits growth including CASA, which is a hot pot item in this market.
Taking charge at a time when SBI has touched peak profits, new chairman C S Setty says he will strive to make the bank the most valued financial institution and adopt a bottom-up approach to management.
HDFC Bank’s Sashidhar Jagdishan is top paid bank CEO with remuneration of Rs 10.77 cr; salary hikes of heads modest in FY24.
Deposits trailing behind credit growth; FM Nirmala Sitharaman says lenders should make more efforts to raise small deposits that come in “trickles” but are “bread and butter” of banking system.
Recovery against Rs 9.90 lakh crore loan write-off was just Rs 1.84 lakh crore during last five financial years; write-off was highest at Rs 2.34 lakh crore in FY20.
Public sector banks charged Rs 8,500 crore from depositors for not maintaining minimum monthly balance in accounts between FY20 and FY24.
After taking charge in 2022, Punjab National Bank CEO Atul Goel starts addressing the bad loan issue, focuses on recoveries, targets higher credit growth and mobilises deposits.
State Bank of India has earned net profit of Rs 1.63 lakh crore in last four years compared to Rs 1.45 lakh crore for the 64 years before that, says chairman Dinesh Khara; he retires later this month.
Indian Bank has corporate loan pipeline of Rs 40,000 cr in FY25, says CEO Shanti Lal Jain; plans to sell Rs 400 cr of NPAs to ARCs.