Union Bank of India CEO Manimekhalai says business growth in FY25 could be closer to lower end of guidance range; Q3 net up 28% on back of non-interest income but NIM falls due to spike in cost of funds.
Canara Bank Q2 net profit rises 12.25% to Rs 4,104.20 crore despite NIM narrowing, as it was aided by non-interest income.
Federal Bank reports net profit of Rs 955 cr in Q3; NII up 15% YoY to Rs 2,431 cr and NIM at 3.11%.
RBI to take steps to inject liquidity into banking system, including purchase of government securities worth Rs 60,000 crore in three tranches.
In his first meeting with bank CEOs, RBI Governor Sanjay Malhotra flagged rise in digital frauds and urged banks to put in place robust and proactive systems.
ICICI Bank Q3 net profit jumps to Rs 11,792 crore; slippages in retail and rural credit see a rise.
Liquidity shortage in banking system is caused by RBI’s persistent dollar sales to protect the rupee as well as seasonal drivers such as tax outflows.
HDFC Bank CFO Srinivasan Vaidyanathan says bank to regain market share and grow loans higher than system in FY27, after bringing down CD ratio.
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.
