Banking & Finance

Manappuram Finance Q2 net profit declines 8.8% to Rs 370 crore

However, the company’s consolidated assets under management (AUM) grew by 5.7% to Rs 28,421.63 crore from Rs 26,902.73 crore a year ago, and by 14.8% in comparison to Rs 24,755.99 crore reported in

The Kerala-based lender, which also operates a home loan, microfinance and commercial vehicle-leasing subsidiary, has reported a standalone net profit of Rs 355 crore, a decline of 12.47% from Rs 405.56 crore reported in the year-ago quarter.

Manappuram Finance posts 8.8 pc decline in consolidated profit in Jul-Sep

Income from operations was down by 2.15 per cent to Rs 1,531.92 crore in Q2FY22, as against Rs 1,565.58 crore in Q2FY21, it said.

The company's gold loan portfolio stood at Rs 18,719.53 crore, registering a strong growth of 13.2 per cent over Rs 16,539.51 crore in the preceding quarter.

Fino Payments Bank reports 74pc jump in Jul-Sept profit

Revenue of the bank grew by 35 per cent year-on-year to Rs 242.15 crore on the back of a growth of 32 per cent in transaction revenue, 43 per cent in subscription income and 35 per cent in open bankin

"Our growth momentum in transaction volumes and throughput continues to be strong. Consumer behaviour towards convenience banking is gaining impetus," Rishi Gupta, CEO & Managing Director said.

Ujjivan Financial Services Q2 loss at Rs 68 cr

It had posted a net profit of Rs 89.76 crore in the year-ago same period. Sequentially, the net loss narrowed from Rs 99.33 crore in quarter ended June 2021.

Expenses were higher at Rs 822.73 crore during the quarter. In the year-ago period, expenses stood at Rs 704.95 crore.

City Union Bank net profit rises 15% to Rs 182 crore in Q2

The bank in a statement said its gross NPA went up to 5.58% from 3.44% in the same period last year. The net NPA also increased to 3.48% from 1.81%.

Net interest income grew 1%, from Rs 475 crore to Rs 478 crore, and net interest margin stood at 4.03%.

Affordable housing loan portfolio was in problem even before pandemic: George Alexander Muthoot, MD, Muthoot Finance

Microfinance will do well in the future once customers start paying back. The government is encouraging the sector and banks are also refinancing.

Demand is good and competition is also intense, but we are confident of achieving the guidance.

Specify due dates in loan agreements: RBI to banks

Additionally, the central bank clarified that the instructions on SMA classification of borrower accounts apply to all loans, including retail, irrespective of the size of exposure of the lending inst

Lenders will have to flag borrower accounts as overdue as part of their day-end processes for the due date, irrespective of the time of running such processes.

Commercial vehicle, micro loans remain pain points for lenders in Q2

“Having said that, I must say we are carrying enough provisions to take care of that,” Kathpalia said. “I do expect that in October-December, where we are seeing buoyancy all over, I believe a l

IndusInd Bank, a major player in both the categories, said recoveries in the vehicle finance segment were strong in Q2. The restructured book in the segment increased over 28% sequentially to Rs 3,969 crore at the end of the quarter.

RBI imposes severe restrictions on this bank, imposes Rs 1,000 cap on withdrawals — check details

As per the directions, the bank shall not, without the prior approval of the RBI, grant or renew any loans and advances, make any investment, incur any liability, and disburse or agree to disburse any

However, sources said a final call in this respect would be taken by the Union Cabinet when it would vet the proposed legislation.

RBI asks banks not to standardise bad loans on just getting interest payments

Issuing some clarifications to all the extant provisions and including the ones issued on October 1, 2021, on the prudential norms on income recognition, asset classification and provisioning pertaini

Consumers’ faith in a system is based on their comfort that the regulator has adequate measures to protect them. Here, RBI has shown fine mettle

Jammu & Kashmir Bank reports Q2 net profit at Rs 111 cr

The bank had posted a net profit of Rs 43.93 crore in the year-ago period and a profit of Rs 104.32 crore in Q1 of FY22.

Bank's provisions for bad loans and contingencies for the reported quarter fell to Rs 192.68 crore, as against Rs 324.92 crore in same period a year ago.

Ombudsman scheme to provide cost-free redress of customer complaints: RBI

The Scheme adopts 'One Nation One Ombudsman' approach by making the RBI Ombudsman mechanism jurisdiction neutral, the RBI said in a statement.

As Das said, banks must exhibit prudent risk-taking behaviour and use their capital efficiently.

Healthy collections, focus on reducing stressed asset flow will aid asset quality in H2FY22: Carol Furtado, COO, Ujjivan Small Finance Bank

Since the economy has opened, we are aiming to get all our business lines to contribute well, and September and October have been good months for us. We hope to see even double the growth in November.

Also, the aspiring middle class [is] an area we will be focusing on, and we have various segments like senior citizens, small traders, and manufacturers, so we will be introducing value-added products for these segments.

Credit active consumers up 7% during February-October this year, report says

The largest credit bureau Transunion Cibil on Thursday said the credit market is back on a growth trajectory, with the resurgence in credit demand and supply.

credit growth

Bank of Baroda Q2 net profit rises 24% to Rs 2,0888 crore backed by other income

Retail loans, that accounted for Rs 1.23 lakh crore of total loans, grew 10.3% on year, while corporate loans amounting to 2.73 lakh crore grew 0.3%.

During the reporting quarter, Bank of Baroda’s global gross advances rose 2.10% on year to Rs 7.34 lakh crore. Retail loans, that accounted for Rs 1.23 lakh crore of total loans, grew 10.3% on year, while corporate loans amounting to 2.73 lakh crore grew 0.3%.

NBFCs source majority loans from digital channels post-Covid

Mid-sized non-banking finance company Shriram City Union Finance is also focusing higher on digital means to increase loan and deposit business.

The company currently receives over 60% of its collections via digital mode where customers can pay via digital wallets or a company-generated hyperlink.

Moody’s upgrades Yes Bank rating by a notch; changes outlook to positive

The long-term foreign currency issuer rating and long-term foreign and local currency bank deposit ratings of the bank has been raised to B2 from B3, Moody's said.

yes bank

Bank of Baroda Q2 net profit jumps 24% to Rs 2,088 crore on higher recoveries, lower credit cost

However, the bank's total income during the July-September quarter of 2021-22, fell to Rs 20,270.74 crore, as against Rs 20,729.31 in the same period of 2020-21, Bank of Baroda said in a regulatory fi

However, the net NPAs rose slightly to 2.83 per cent, from 2.51 per cent.

Collection efficiency of NBFCs’ securitised pools improves in Q2 FY22: Report

The agency said that the collection efficiency (including overdue collection) for the most affected asset classes, viz microfinance and SME (Small and medium-sized enterprises) loans, reached close to

Collections in the housing loan segment continued to remain healthy during Q2 FY2022, post swiftly recovering to pre-second wave level in June 2021, it said.

Edelweiss ARC increasing investment to acquire stressed retail loans

According to Edelweiss ARC MD & CEO RK Bansal, the company currently has around five lakh accounts under its retail portfolio and has already become the largest player in the retail ARC space.

Edelweiss ARC

Indian Bank launches video KYC facility enabled by VCIP technology

To begin with, Indian Bank, in a statement here said the initiative would dispense with the need for a personal visit to any branch of the bank to complete the physical verification process in place,

Public sector Indian Bank , Video KYC , video based customer Identification number, physical verification process , Gieom Business Solutions

Ujjivan Small Finance Bank net loss widens to Rs 274 crore on poor asset quality, higher provisions

Owing to deteriorating asset quality, Ujjivan SFB’s provisions rose to Rs 436.88 crore in the reporting quarter, lower than Rs 473.21 crore in the previous quarter.

Quarterly Results: Sundaram Finance Q2 net up 10%

SFL in a statement said the second quarter witnessed recovery across most macro-economic indicators. Disbursements for the quarter recorded a growth of 14% to Rs 3,621 crore, compared to Rs 3,174 cror

The capital adequacy ratio stood at 23.4% (tier I at 16.3%) as on September 30, 2021 as compared to 19.3% (tier I at 13.7%).

Quarterly Earnings: Karur Vysya Bank net profit jumps 43% in Q2

KVB in a release said the net interest income for the quarter improved by 13.1% to Rs 680 crore, as against Rs 601 crore, while the net interest margin stood at 3.75%.

Total deposits grew 7% to Rs 65,410 crore, up from Rs 61,122 crore. The growth was aided by sustained improvement in CASA portfolio and retail term deposits, it added.

RBI imposes curbs on Babaji Date Mahila Sahakari Bank; caps withdrawals at Rs 5,000

The restrictions under the Banking Regulation Act 1949, will remain in force for six months from the close of business on November 8, 2021, and are subject to review, the RBI said in a statement.

A majority of loans disbursed digitally by NBFCs were personal loans, followed by loans classified as ‘others’. These primarily include consumer finance loans.

Japan’s SoftBank sinks into losses over China investments

SoftBank has a Japanese mobile carrier under its wing that was the first to offer the iPhone in the Japanese market.

softbank india

Good Banking: The role of banking in driving ESG goals

Banks hold considerable clout in shaping and enabling the ESG goals of industries and corporates

Rajashekara Maiya
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