Faster growth in AUM will not be sufficient for housing finance companies to hold on to market share as banks have turned very aggressive on home loans.
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Bank of Maharashtra to add 215 branches over next 12 months; plans to have at least one branch in all 780 districts of country as part of ambition to have pan India footprint.
Bank of Maharashtra raises Basel III compliant AT1 bonds of Rs 710 crore at coupon rate of 8.74%; this will be utilised to fund the bank’s business growth.
Nearly Rs 5,000 crore of loans or 16.32% of total bank assets in Maharashtra under the Pradhan Mantri MUDRA Yojana to help small businesses are unpaid as of June 2022, as per official data.
"Ideally, we should have a road map, maybe over a 10-year timeframe, to privatise all PSBs. That will give much needed predictability to all stakeholders," former RBI Governor D Subbarao said.
Bank unions are against ‘loan melas’ organised by public sector banks as this leads to pile-up of NPAs with credit being granted without much diligence at such events.
Customers will earn unlimited 1% cashback on all spending; cashback will increase to 5% on all online spending for up to a maximum of Rs 10,000 per monthly statement cycle.
Average tenure of bank lending is nine years and deposits’ tenure is close to 2.5 years. There is a massive asset-liability mismatch which can explode anytime, says Pronab Sen.
Canara Bank, ICICI Bank and Union Bank of India were few outliers who had anticipated hikes in interest rates and subsequent rise in yields on their bond portfolios.
When Murali Ramakrishnan took guard at South Indian Bank as CEO, he had to battle against legacy corporate loans which had turned sour, clean up books and build new credit profile. Here is a report card on the bank’s turnaround story.
Tightening policy to continue in rest of FY23; could see at least another 75bp hikes by Mar23, subject to inflation nearing its peak in 2QFY23 and gradually easing below 6% in Mar23 quarter.
RBI allows Punjab National Bank to invest Rs 500 crore in Rs 2,500-crore rights issue of Punjab Housing Finance; stake of bank in arm to fall below 30% but not less than 26%.
Canara Bank plans to raise Rs 7,000 crore in the remaining part of the financial year and float a credit card subsidiary, CEO LV Prabhakar said.
Govt will likely float EoI for divestment of IDBI Bank within a month, CEO Rakesh Sharma said; it has already hired a transaction and legal adviser.
Yes Bank CEO Prashant Kumar has put plenty on his plate. He has got JC Flowers ARC to help him get rid of pile of bad loans worth Rs 48,000 cr; the bank will pick up 20% stake in this entity; and he will raise $1 bn to fund growth. Will he be able to jump-start the growth engine?
