Axis Bank Q3 net up 3.83% at Rs 6,304 cr; deposits and loans grow the slowest in 15 quarters while slippages in unsecured retail are elevated.
Punjab & Sind Bank is poised to clock net profit of over Rs 1,000 crore this fiscal, CEO Swarup Kumar Saha said.
Bank of Maharashtra’s total biz crosses Rs 5 lakh crore for first time; loan growth up 21% in Q3 to Rs 2.28 lakh cr despite tighter underwriting standards.
Despite several banks hoping RBI would cut repo rate in its February monetary policy, several lenders hiked interest rates on deposits as liquidity stayed tight.
For some banks, deposits and credit grew in sync in the Dec quarter. Others saw deposits outpace loan growth. Reverse was true in case of IndusInd Bank, IDBI Bank and UCO Bank.
Total number of employees of private banks surpassed that of public sector banks during 2023-24 but their attrition has increased sharply over the last three years, RBI said.
Despite RBI infusing some liquidity through cut in CRR by 50 basis points, interest rates on deposits are likely to stay firm in near term as demand for loans will be strong in Q4.
Pressure to dial interest rates down intensifies after GDP growth slows to shocking 5.4%; will inflation at 14-month high of 6.2% be deciding factor as MPC meets amid uncertainty over tenure of RBI Governor Shaktikanta Das?
Among top 10 banks in terms of highest amount of loans written off in FY24, six report increase; Union Bank of India, SBI, Bank of Baroda and Central Bank of India buck the trend.
Share of term deposits in total mix rise to 61.4% in September quarter from 59.8% a year ago, RBI data shows; deposits over 7% interest increase to 68.8% from 54.7%.
Canara Bank MD & CEO Satyanarayana Raju sheds nearly Rs 40,000 crore of low-yielding advances in corporate sector; taps alternative resources to bridge gap between credit and deposit growth and lends at higher cost.
IDFC First Bank MD & CEO V Vaidyanathan believes that none of the stories on the bank’s projected long-term growth in deposits, loans, profitability and bad loans have fundamentally changed.
Banks have seen a surge in gold loans as prices for the yellow metal have soared and the RBI has worried that aggressive lending in this segment can lead to a build-up of bad debt if irregular practices are not corrected.
Aggregate business of public sector banks jump 11% YoY to Rs 236.04 lakh crore in first six months of current fiscal; net profit up 26% to Rs 85,520 crore and bad loans fall.
Don’t expect further fall in NIM as interest rates on deposits have peaked and yield on advances is set to improve, says SBI chairman CS Setty.
