Punjab National Bank is looking to recover Rs 32,000 crore worth of bad loans and reduce its net NPA ratio to 3.5% by fiscal-end, MD and CEO Atul Kumar Goel said.
HDFC Ltd is buying out State Bank of India’s entire 19.5% stake in its venture capital subsidiary, HVCL.
HDFC Ltd will raise $1.1 billion in external commercial borrowing (ECB) for on-lending to the affordable housing sector.
Yes Bank today announced raising equity capital of Rs 8,900 crore from global private equity firms Carlyle Group and Advent International, with each investor potentially acquiring up to a 10% stake.
Union Bank of India reported a 32% YoY rise in net profit to Rs 1,558 crore for the quarter ended June on the back of a rise in its net interest income and fall in bad loans.
Unclaimed deposits in banks have ballooned to Rs 48,262 crore in FY22 from Rs 39,264 crore a year ago, RBI data showed; awareness campaign launched with focus on eight states.
Intense competition among banks for corporate loans has led to Axis Bank being selective as it seeks to protect pricing; net profit in Q1 rises 91% to Rs 4,125 crore.
Axis Bank clears another hurdle in completing its acquisition of Citibank’s consumer business in a deal worth Rs 12,325 crore; Competition Commission of India approves proposed deal.
ICICI Bank reports 49.6% YoY rise in net profit to Rs 6,904.94 crore in Q1 on back of robust credit growth, improving asset quality and lower provisions.
IndusInd Bank’s asset mix is conducive to achieve a NIM of 4.15%-4.25% in FY23 even as deposit rates are on the rise amid RBI’s monetary tightening cycle, said chief executive officer Suman Kapathalia.
State Bank of India has received board approval to raise up to Rs 11,000 crore through issuance of bonds in FY23.
As long as USD continues to strengthen due to Fed’s hawkishness and fear of global recession, USDINR can continue to move higher, but at a slow speed, guided by RBI. We could see levels of 80.50/81.00 over the next medium term.
NCLT orders insolvency resolution proceedings against Future Retail and rejects objection raised by Amazon, which is involved in a bitter legal tussle with the debt-laden company.
Former RBI Deputy Governor R Gandhi and professor Ananth Narayan Gopalakrishnan cease to be additional directors on the board of Yes Bank; this follows alternate board constituted by bank as per RBI’s directive.
Federal Bank posts 63.53% YoY jump in net profit to Rs 600.66 crore in Q1, from Rs 367.29 crore a year ago.
