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.
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.
