Page 64 of banking sector

SBI Cards net profit jumps 106% in Q1

The company’s total revenue from operations grew by 31% y-o-y to Rs 2,362 crore in Q1FY23.

July 29, 2022 02:40 IST

Neobanking market to surge three times to USD 11.65 billion by FY25: Report

Due to the sheer scale of the Indian market, there is a substantial opportunity for neobanking to create value for…

July 28, 2022 19:00 IST

Bank deposit rates set to rise sharply soon: Report

Banks’ reliance on CDs has been increasing in recent months to fund incremental credit demand with the CD outstanding volume…

Updated: July 28, 2022 17:55 IST

Banks and financial entities can give their comments on the recommendations by September 30, the central bank said in a press release.

RBI suggests good practices for banks to deal with climate change

“Regulated entities (RE) may carry out substantial measures to mitigate or refrain from climate-related risks that are not in accordance…

July 28, 2022 04:45 IST

The company’s gross stage 3 non-performing assets declined from 2.3% to 2.1% q-o-q.

Home First Finance Q1 profit rises 46% y-o-y

The company’s disbursements grew by 117% y-o-y to Rs 661 crore in Q1FY23. Assets under management (AUM) grew by 35.8%…

July 28, 2022 03:50 IST

Union Bank profit rises 32% as provisions slide

The pre-provisioning operating profit (PPOP) improved by 2.7% YoY to Rs 5,448 crore, supported by non-interest income.

July 27, 2022 03:55 IST

June quarter report card: Private banks’ operating profits lag as treasury losses weigh

Kotak Mahindra Bank’s 30-bps NIM expansion to 4.92% surprised analysts, which was brought about by a change in the asset…

July 27, 2022 03:30 IST

Axis Bank Q1 profit nearly doubles as provisions plunge

MD says the bank hasn’t yet decided a date on integration of Citibank India’s consumer portfolio business and will do…

July 26, 2022 03:15 IST

KVB net profit more than doubles to Rs 229 cr in Q1

Net interest income for the quarter improved 17% to Rs 746 crore for the current quarter vis-à-vis Rs 638 crore…

July 26, 2022 01:20 IST

Banks to weigh NARCL’s offer against promoter bid

State Bank of India, ICICI Bank, IDBI Bank, Bank of Baroda and Tata Capital Financial Services are secured creditors to…

July 26, 2022 00:45 IST

Canara Bank Q1 profit jumps 72% on higher income

The bank reported a total income of Rs 23,352 crore, up 11.5% YoY.

July 26, 2022 00:30 IST

Canara Bank profit rises 72 pc to Rs 2,022 crore on higher interest income, loan growth

Gross domestic advances of the bank grew by 13.14 per cent to Rs 7,48,140 crore and deposits rose by 8.49…

July 25, 2022 19:03 IST

Karur Vysya Bank net jumps to Rs 229 crore in June quarter

Total income rose to Rs 1,672.60 crore in Q1FY23 as against Rs 1,579.26 crore in Q1FY22.

July 25, 2022 18:52 IST

Axis Bank profit nearly doubles to Rs 4,125 crore in April-June

The private sector bank had registered a net profit of Rs 2,160 crore in the corresponding quarter of the previous…

July 25, 2022 17:42 IST

ICICI Bank Q1 profit zooms 50% to Rs 6,905 cr

Provisioning coverage ratio on non-performing assets was 79.6 per cent at June 30, 2022.

Updated: July 23, 2022 18:48 IST

The subsequent record has been mixed, at best, and economic reform has included gradually making room for private sector banks, while trying to strengthen public sector banks through structural reforms.

Privatising India’s banks

The case for privatising the public sector banks is ultimately a case for economic development

July 23, 2022 04:15 IST

For example, a few years ago, it was decided to induct private sector talent in the corner offices of PSBs.

The real banking reforms: By not implementing many of Nayak committee proposals, the govt has disadvantaged PSBs

The current government has taken some steps towards reducing political interference—even its worst detractors will have to admit that the…

July 22, 2022 03:15 IST

As per the latest Financial Stability Report published by the RBI, the gross non-performing assets (GNPA) declined to a six-year low of 5.9 per cent in March 2022.

Bad loan ratio of banks likely to fall to 5-5.5 pc by March 2024: S&P Global

Corporate borrowing is also picking up momentum, with both working-capital needs and capital expenditure-related growth driving demand, it said.

July 21, 2022 18:04 IST

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Prada Group completes acquisition of Versace in $1.37 billion deal

Business News42 min ago

Prada Group has acquired Versace in a $1.37 billion deal, bringing together two of Italy’s top fashion brands. This marks the end of Versace’s ownership under Capri Holdings and will help the company improve its financial position. The move is expected to reshape Milan’s luxury landscape and revive Versace’s performance with better access to capital and strategic planning under Prada’s management.

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