With this revision, the lender’s MCLR now varies between 8.9% to 9.35% across tenures.
Bank credit growth could moderate to 12-14% in next fiscal if deposit growth remains tepid, says S&P in a report.
State Bank of India’s outgo on account of increase in salaries and pensions will jump to around Rs 26,000 crore by March this year.
State Bank of India’s Q3 net falls to Rs 9,163.96 crore due to a pension liability of Rs 7,100 crore.
Indian Bank is working on floating subsidiary with capital infusion of Rs 10 crore; wholly-owned arm to focus on collection, recovery and sales.
HDFC Bank will take 4-5 years to fully digest its merger with its parent; expects to restore key financial metric to pre-merger levels at end of that period.
Punjab National Bank’s Q3 net profit jumps 253% to Rs 2,223 crore; expects profit to be in Rs 7,000-7,500 crore range in FY24.
Canara Bank maintains net interest margin above 3% despite interest rate pressure on deposits; net profit rises 27% to Rs 3,656 crore.
Axis Bank’s net profit sees modest growth to Rs 6,071 crore even as operating expenses rise 32% to Rs 8,946 crore; net interest margin falls to 4.01% from 4.26%.
ICICI Bank posts a net profit of Rs 10,272 crore in Q3, mainly on back of lower provisions and stable asset quality.
On retail, rural & SME accounts, gross and net NPAs continue to remain low and are at 1.45% and 0.50% respectively as of 31 December 2023,'' says IDFC First Bank CEO V Vaidyanathan.
Union Bank of India’s rise in net profit driven by improved assets quality and lower slippages; stress in retail loans but so far restricted to only payment delays and not become NPAs.
The rise in net profit came on the back of higher interest income and lower provisions despite fresh slippages in the quarter ended December.
South Indian Bank posts 197% YoY rise in net profit to Rs 305.36 core in December quarter; net NPA falls to 1.61% from 2.26%.
Central Bank of India’s gross NPAs fell to 4.50% as of 31 December, from 8.85% a year earlier; net NPAs declined to 1.27% from 2.09%.
