Canara Bank reported 89% year-on-year rise in net profit to Rs 2,525 crore in Q2, riding high on strong credit growth and improved asset quality.
Union Bank of India Q2 net up to Rs 1,848 crore on the back of strong credit growth; margins widen.
Axis Bank has reported a 70% year-on-year growth in net profit to Rs 5,330 crore for the quarter ended September.
IndusInd Bank’s loan book grows 18% to Rs 2.6 trillion; corporate advances up 24% YoY.
Bank of Maharashtra’s margins will remain steady and be around 3.5% for FY23, said MD & CEO A S Rajeev.
HDFC Bank CFO Srinivasan Vaidyanathan also talks of possibility of margin improving in a tightening monetary cycle, customer penetration in time deposit segment and MTM losses.
HDFC Bank has reported a 20% year-on-year jump in its net profit for the fiscal second quarter ended September to Rs 10,605.8 crore.
Bank of Maharashtra bucks the trend, cuts home loan rates to 8% from earlier 8.3%; interest rate on personal loans also slashed.
SBI’s interest rate now ranges from 3% to 5.85% for the general public and 3.50% and 6.65% for senior citizens on deposits maturing in 7 days to 10 years.
SBI becomes first lender to achieve Rs 6 trillion milestone in residential home category; announces festive offer for home loan buyers.
Canara Bank launches special fixed deposit scheme for tenure of 666 days; offers interest rate of 7.5% for senior citizens and 7% for other customers.
Punjab National Bank offers extra 80 basis points on fixed deposits to senior citizens above age of 80 years.
The 50-bps hike will prompt banks to up interest rates on loans; RBI lowers GDP forecast to 7% for FY23.
HDFC Bank sees 23.5% growth in loan book to Rs 14.80 lakh crore in Q2, indicating bounce back in demand for credit in India; deposits surge nearly 19% year-on-year.
As share of credit from retail segment has been rising, portion of small-sized loans is also going up steadily; share of loans up to Rs 1 crore has surged to nearly 48% in March 2022 from around 39% five years ago.
