HDFC Bank, which has the second-largest home loan assets, has decided to strategically leverage its large size to cross-sell multiple products and boost its CASA deposits base.
Canara Bank has raised Rs 2,000 crore via bonds at a coupon of 8.4%; will be utilised to fund business growth.
RBI lifts ceiling on remuneration of non-executive directors in private banks to Rs 30 lakh per annum from Rs 20 lakh earlier.
Indian Overseas Bank unveils RuPay Credit Card variants, IOB Freedom Savings and Current Account Variant and Digital Documents Execution for online locker agreements.
RBI will soon issue guidelines mandating lenders to provide retail and small business borrowers a ‘key fact statement’ that shows details on pricing of loans and other charges levied on them.
With this revision, the lender’s MCLR now varies between 8.9% to 9.35% across tenures.
Bank credit growth could moderate to 12-14% in next fiscal if deposit growth remains tepid, says S&P in a report.
State Bank of India’s outgo on account of increase in salaries and pensions will jump to around Rs 26,000 crore by March this year.
State Bank of India’s Q3 net falls to Rs 9,163.96 crore due to a pension liability of Rs 7,100 crore.
Indian Bank is working on floating subsidiary with capital infusion of Rs 10 crore; wholly-owned arm to focus on collection, recovery and sales.
HDFC Bank will take 4-5 years to fully digest its merger with its parent; expects to restore key financial metric to pre-merger levels at end of that period.
Punjab National Bank’s Q3 net profit jumps 253% to Rs 2,223 crore; expects profit to be in Rs 7,000-7,500 crore range in FY24.
Canara Bank maintains net interest margin above 3% despite interest rate pressure on deposits; net profit rises 27% to Rs 3,656 crore.
Axis Bank’s net profit sees modest growth to Rs 6,071 crore even as operating expenses rise 32% to Rs 8,946 crore; net interest margin falls to 4.01% from 4.26%.
ICICI Bank posts a net profit of Rs 10,272 crore in Q3, mainly on back of lower provisions and stable asset quality.
