Board of IDFC First Bank approves re-appointment of Vaidyanathan as MD and CEO for new period of three years; current term expires on 18 December 2024.
IDFC First Bank’s provisions for bad loans rise 50% amounting to Rs 722 crore in Q4; net profit falls 9.8% to Rs 724 crore.
Bank of Maharashtra’s Q4 net profit up 45% to Rs 1,218 crore compared to Rs 840 crore a year ago amid fall in bad loans and rise in interest income.
Axis Bank reported a net profit of Rs 7,130 crore for the quarter ended 31 March 2024, as against a loss of Rs 5,728.42 crore a year ago.
HDFC Bank CEO Sashidhar Jagdishan says lender will not use pricing to crank up pace of deposit growth; focus will be on improvement of profitability matrix.
Co-lending model attracts AUM worth almost Rs 1 lakh crore in last five years, says Crisil; growth in personal loans likely to be impacted because of RBI's measures adopted last year.
Union Bank of India raises Rs 4,200 crore from foreign markets to fund overseas business growth.
Canara Bank launches slew of new products, including loan scheme to meet shortfall of hospital expenditure.
Central Bank of India MD and CEO MV Rao has been elected as chairman of Indian Banks' Association.
Central Bank of India, UCO Bank, Bank of Maharashtra, Punjab & Sind Bank and Indian Overseas Bank need to reduce government shareholding.
Bank credit and deposits cannot keep running at very different levels for a long period of time and are likely to converge at around 13%, bankers said.
Dilemma HDFC Bank faces today is growth versus profitability even as CD ratio is high at 110% and liquidity is tight in banking system; in post-merger scenario, bank needs deposits to outpace loan growth.
IDFC First Bank CEO Vaidyanathan shares vision of bank’s size in next five years even as it normalises lending growth, hooks on to strong deposit growth and keeps guard on bad loans.
SBI should be in a position to meet wage cost as well as pension obligations by generating incremental productivity through digital route, said chairman Dinesh Khara.
Indian economy continues to sustain momentum achieved in first half of 2023-24; fresh round of capex by corporate sector likely to fuel next leg of growth, said RBI in its February Bulletin.
