Banking & Finance

CSB Bank net soars 72% on lower provisioning

Provisions were written back for the quarter in review with recoveries and upgrades seen higher than slippages.

Federal Bank net profit surges 50%, asset quality improves

Provisions and contingencies were lower at Rs 245.33 crore, compared with Rs 532.09 crore in the year-ago period. The provision coverage ratio (including technical write-offs) is reported at 79.33%.

Gross non-performing assets (NPAs) as a percentage of gross advances are seen at 3.24%, compared to 2.84% in the year-ago period and 3.50% in the preceding quarter. The net NPA ratio stood at 1.12%, against 0.99% in Q2 of FY21 and 1.23% in Q1FY22.

Must address systemic risk arising out of growing NBFCs: RBI deputy governor M Rajeshwar Rao

The deputy governor observed that there has been a consistent and conscious understanding that a one-size-fits-all approach is not suitable for the NBFC sector, which includes a diverse set of financi

It is in this background that the RBI has conceptualised the scale-based regulatory framework.

We expect gold loans to grow 25-30% for full year: Shyam Srinivasan, MD & CEO, Federal Bank

As the economy opened up, our efforts doubled. We had much recovery and upgrades than incremental slippage in Q2. Our quality of portfolio is getting as pristine as it should be.

Everything in the P&L works. Our interest income is Rs 1,479 crore, other income is Rs 444 crore, slippages is Rs 320 crore and provision is Rs 250 crore. We don’t have any lumpy one-off that makes things happen. It is a granular franchise.

NPA ratio falls: Yes Bank Q2 profit jumps 74% on lower provisions

The bank saw fresh slippages worth Rs 1,783 crore during Q2, with Rs 750 crore coming from the corporate book.

Prashant Kumar, MD & CEO, said, “This quarter, we have also seen a growth in the corporate and SME segments, post several quarters of de-growth.”

Razorpay launches tokenisation solution in partnership with Mastercard, RuPay and Visa

The 'Razorpay TokenHQ' will work across all major card networks including Mastercard, RuPay and Visa, and almost the entire base of five million businesses using Razorpay's services will be ready to s

Razorpay launches tokenisation solution in partnership with Mastercard, RuPay and Visa

Bank of India opens first-ever branch in Ladakh

"The bank is fully committed to extending its banking services to the people living in the far-flung areas of the country. The opening of a branch here is an important step towards this goal," Das sai

This was the 5,086th branch opened by a bank in the country and abroad, and is fully computerised and digitised with a facility of E-Gallery to provide 24x7 banking to the residents of Leh, a spokesperson of the Bank of India (BOI) said.

Protection of customer interest non-negotiable: RBI Deputy Governor to NBFCs

The reputation of the non-banking financial sector has been dented in recent times by failure of certain entities due to idiosyncratic factors, he said.

Insurance industry: Balancing the board

The COVID-19 pandemic has resulted in a massive number of health claims.

covid pandemic, insurance, health claim, FDI cap, insurance sector.,

Bank of Maharashtra Q2 net profit jumps 103% on higher interest income

The bank's net NPA was at 1.73%, while gross NPA came in at 5.56%, as against a net NPA ratio of 3.30% and gross NPA ratio of 8.81% last year. The bank's provisional coverage ratio improved to 92.38%.

In the retail loan segment, housing loans grew by 20.35%, while vehicle loans were up 27% compared to a year ago. The earlier stressed MSME too was showing clear signs of cash flow and better capacity utilisation, the CEO said. MSME advances grew 20.66% YoY to Rs 22,995 crore for Q2FY22.

IDBI Bank net profit jumps 75% in Q2 on lower employee costs, higher net interest income

The bank’s NII, or the difference between interest earned and interest expended, rose 9.45% y-o-y to Rs 1,854 crore.

Slippages amounted to Rs 1,541 crore, down from Rs 1,577 crore in Q1FY22. Recoveries and upgrades were to the tune of Rs 1,910 crore, up from Rs 1,596 crore in the June quarter. The slippage ratio for the year so far stands at 2.2% and the bank intends to contain it at around 3% for the full year.

Bank credit grows 6.48%; deposit by 10.16%: RBI data

In FY2020-21, bank credit had grown by 5.56 per cent and deposit by 11.4 per cent.

bank-credit

Bank of Maharashtra net profit jumps over two-fold at Rs 264cr in Sept quarter

However, the lender kept a higher amount as provisions for bad loans and contingencies at Rs 515.60 crore for the September 2021 quarter as against Rs 371.65 crore in the year-ago quarter.

IDBI Bank Q2 profit surges 75% to Rs 567 cr

The lender's stressed assets ratio also improved, with gross non-performing assets (NPAs) declining to 20.92 per cent of gross loans as of September 30, 2021, against 25.08 per cent a year ago.

RBI slaps Rs 1 cr penalty on Paytm Payments Bank for non compliance

RBI said on examination of PPBL's application for issue of final Certificate of Authorisation, it was observed that it had submitted information which did not reflect the factual position.

RBI, Paytm Payment Bank, PPBL, monetary penaly, western union bank, breach of the ceiling of 30 remittances per beneficiary

National Asset Reconstruction Company: First set of NPA transfer to bad bank likely by January

The plan to set up NARCL comes at an opportune time. Gross NPA ratio of banks may surge to 9.8% by March 2022, under a baseline scenario, from 7.48% in March 2021, driven partly by the Covid crisis, a

Last month, the Cabinet approved a proposal to offer sovereign guarantee on the security receipts (SRs) issued by the NARCL, which is estimated to cost the exchequer Rs 30,600 crore over five years. In the first phase, fully-provisioned toxic assets will be transferred.

Improved Spends: Driven by storefront QR codes, offline merchant transactions grow

Industry players attributed the pick-up in offline digital transactions to the pandemic-era habit of minimising cash usage as also the unlocking of businesses after the second Covid wave receded.

digital payments, QR codes

Gross NPAs of banks may decline to 6.9 pc by March 2022: Report

The agency expects this to remain elevated at Rs 0.7-0.8 lakh crore (2.8-3.2 per cent) during Q2 FY2022 but moderate to Rs 1.1-1.2 lakh crore (2-2.4 per cent) during H2 of this fiscal as the impact of

YES Bank showing remarkable progress; to take to 2 more years to stabilise: Former SBI chief

Kumar had an eventful three-year tenure (October 2017-October 2020) as the head of the SBI, which alone has over 20 per cent market share.

Mudra NPAs rise as Covid hits MSMEs

The pandemic has hit small businesses harder than their larger counterparts and that may be putting pressure on loans taken by them, including Mudra loans.

MSME

Meet festive demand, lend liberally, PSBs told

The finance ministry has also asked ministries of agriculture, labour, housing, health and rural development to help bolster the number of beneficiaries for insurance as well as pension outreach as we

Nirmala-Sitharaman-1

Gross NPAs of banks to rise to 8-9% this fiscal: Report

These estimates are predicated on a base-case scenario of 9.5 per cent GDP growth this fiscal and continued improvement in corporate credit quality, the rating agency said.

This will be well below the peak of 11.2 per cent seen at the end of fiscal 2018. (File)

Banks shut on Id-E-Milad in these states, closed for up to 5 days this week

Bank holidays: Banks in India will remain closed for up to five days this week, and seven days in the remaining month of October 2021.

bank holidays in October 2021

ICICI Bank seeks buyers for Rs 338-crore exposure to Soma Infrastructure

Soma Infrastructure is a Hyderabad-based company that owes ICICI Bank over Rs 149 crore in principal dues, and another Rs 189 crore in accrued interest and other charges.

icici bank
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