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.
IDFC First Bank has reported its highest ever profit of Rs 605 crore in Q3-FY23 and the return on equity has now moved firmly into double digits, said CEO V Vaidyanathan.
ICICI Bank sees 19.7% YoY rise in total advances to Rs 9.7 trillion; deposits up 10.3% to Rs 11 trillion.
Union Bank of India plans to raise Rs 3,800 crore via QIP in current quarter and has bonds in excess of Rs 50,000 crore which it can monetise to support credit demand, said CEO Manimekhalai.
For any person looking to acquire 5% or more stake in a bank, prior RBI approval will be required; aim is to ensure that ownership is well diversified and major shareholders are ‘fit and proper'.
HDFC Bank’s loan book grew 19.5% YoY to Rs 1,506,809 crore in Q3; total deposits rose 19.9% to Rs 1,733,204 crore.
After posting net loss of Rs 85,390 crore in 2017, public sector banks ended FY22 with profit of Rs 66,539 crore and are estimated to touch milestone of Rs 1 lakh crore by end of FY23.
After ending 2022 as the worst-performing Asian currency with a fall of 11.30% to 82.73 a dollar, the rupee is expected to fight back and have an appreciating streak in the current year.
