Canara Bank has posted 43% rise in net profit in September quarter over year-ago period, bad loans have fallen and advances to agriculture have seen significant surge.
This is bank’s best performance in last 14 quarters in terms of profitability, said Punjab National Bank CEO Atul Goel; hopes to end FY24 with profit of over Rs 6,000 crore.
Yes Bank reports 47.4% rise in net profit to Rs 225.21 crore in September quarter but net interest income falls 3.3% on account of repricing of deposits.
ICICI Bank reports 36% rise in net profit to Rs 10,261 crore for the quarter ended September 2023 on higher core income and lower provisions.
Interest rate will remain high for the moment; only time will tell for how long it will remain elevated, says RBI Governor Shaktikanta Das.
Central Bank of India sees 90% year-on-year rise in net profit to Rs 605 crore for the quarter ended September 2023 amid healthy core income growth and a fall in bad loans.
HDFC Bank reports sharp fall in its lending margin and rise in bad loans on sequential basis for quarter ended 30 September.
Bank of Maharashtra’s asset quality stayed stable and net interest income jumped as it reported a standalone net profit of Rs 919.8 crore in Q2, up 72% from Rs 535.1 crore a year ago.
IDBI Bank has deferred tax assets of Rs 11,520 crore and 120 properties in top seven cities, government informs prospective asset valuers.
Banks see dip in CASA deposits as savers shift towards term deposits due to higher interest rates, according to a survey by by Ficci and IBA.
CPI-based inflation eases to 5.02% in September from 6.83% in August, mainly on account of a moderation in food prices. Retail inflation was at 7.44% in July while in June it was at 4.8%.
IDFC First Bank has entered into an agreement with National Securities Depository Limited to sell one of its premises in Mumbai for Rs 198 crore.
RBI may have to consider OMO sales to manage liquidity, consistent with the stance of monetary policy, said RBI Governor Shaktikanta Das.
Even as media reported that net financial savings of households plummeted to a five-decade low, RBI deputy governor Michael Patra on Friday said the quarterly numbers showed an upward movement towards the historical trend.
While repo rate is unchanged at 6.5%, RBI Governor Shaktikanta Das signals liquidity conditions would be kept tight to bring inflation closer to the 4% target.
