State Bank of India raises Rs 3,717 crore through issuance of additional tier-1 bonds at coupon rate of 8.25%; bonds have ten-year call option.
Odisha circle aims to account for 3% of SBI’s total balance sheet by FY25, up from 2.72%; to add 30 branches.
Amid interest rate hikes, customers are taking longer time from inquiry to closure of home loans; many banks are growing home loans via inorganic growth.
Banks' credit growth doubled to 16.8% in October-December quarter from year earlier but was lower than preceding quarter which stood at 17.2%.
Union Bank of India gives its super mobile app a push; bank investing Rs 1,600 this fiscal in technology, up from Rs 1,000 crore in the year-ago period.
SBI’s MD Sreenivasulu Setty expects the bank’s overseas book to grow from stronger demand for external commercial borrowings by Indian companies in FY24 as domestic interest rates are rising.
IDFC First Bank’s board has approved allotment of 37.75 crore shares to a subsidiary of IDFC on preferential basis for Rs 2,196 crore.
IDFC First Bank’s board has approved allotment of 37.75 crore shares to a subsidiary of IDFC on preferential basis for Rs 2,196 crore.
SBI reports 68.47% YoY jump in net profit to Rs 14,205 crore for December 2022 quarter on back of sustained growth in loan book, treasury gains and improved asset quality.
Punjab National Bank posts 44% YoY drop in net profit to Rs 628.88 crore for December 2022 quarter due to aggressive provisioning despite bad loans coming down.
RBI looks to provide one more alternative mechanism for lenders to sale bad loans; discussion paper highlights issues such as regulatory mechanism for special purpose entity and resolution manager.
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UCO Bank’s Q3 net profit up 110.37% YoY to Rs 652.97 crore; record profit driven by lower bad loans, higher recovery from written off accounts and better loan pricing.
Canara Bank’s Q3 profit came from a sharp rise in interest income, good growth in advances and better performing assets, said executive director Satyanarayana Raju.
Buoyed by an increase in interest income, a robust growth in advances and a decline in bad loans, Axis Bank reported a 62% YoY jump in net profit to Rs 5,853 crore for the quarter ended December 2022.
Focus on retail side is housing, vehicle and gold loans; bank’s exposure to NBFCs has also risen sharply, says Punjab and Sind Bank CEO Swarup Kumar Saha.
