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%.
RBL Bank posts net profit of Rs 233 crore in December quarter due to provisioning towards Alternate Investment Fund investment.
Strong expansion of retail loans, at an annual rate of about 30%, was a sign of heating up, SBI chairman Khara said.
Federal Bank’s gross NPA stood at 2.29% by the end of December 2023 versus 2.26% a quarter ago and 2.43% a year ago.
Bank of Maharashtra’s Q3 total business grows 18.89% year-on-year to Rs 4.34 lakh crore; deposits up 17.89% to Rs 2.46 lakh crore.
HDFC Bank’s Q3 advances grow over 62% YoY to Rs 24.69 lakh crore; deposits up 27.7% to Rs 28.47 lakh crore.
State Bank of India’s green rupee term deposits will have three maturity buckets; interest rates will be 10 basis points below the card rate for the respective tenures.
Bank deposits cross Rs 200 trillion milestone in 2023, with the last Rs 50 trillion being mopped up in a record two years and nine months.
