The portfolio asset quality continues to improve with Gross NPA at 1.24 percent as on end September 2024

Before joining Axis Bank, Chaudhry was leading HDFC Life

Analysts from PL Capital and Axis Capital estimate a slowdown in loan growth to 12%, down from 19% in the previous year, and a dip in deposit growth to 9% from 15%

BoB had reported a net profit of Rs ₹4,253 crore in the year ago quarter (Q2FY24)

Confident of sustaining Q2 bottomline growth performance in remaining quarters this fiscal 

The private sector lender had reported a net profit of ₹1,323 crore in the year ago quarter

During the year, the number of branches and employees of foreign banks in India also expanded by 0.6 per cent and 1.4 per cent, respectively

The Kolkata-based lender had posted a net profit of ₹ 721.16 crore for the first quarter last fiscal

Yes Bank’s standalone net profit more than doubled to ₹5.53 billion for the financial second quarter from ₹2.25 billion in the same period a year earlier

NIM moderated 9 basis points sequentially to 4.27 per cent on higher cost of funds

YES Bank targets 17-18% deposit growth, loan growth of 13-14% in FY25; CEO Prashant Kumar says this can be the ‘right time’ to acquire an MFI

SBI Chairman CS Setty accepted the award

Chola MS reports an 11.6% Y-o-Y rise in GWP to ₹4,136 crore in H1 FY25; MD V Suryanarayanan says focus on profitable growth continues to drive performance

On a standalone basis, PNB’s net profit for the quarter under review increased 145 per cent to ₹4,303 crore (₹1,756 crore)

For the first half of the fiscal, the bank’s net profit exceeded ₹5,000 crore, totalling ₹5,110 crore, up from ₹3,697 crore

Move will lead to lower reliance on bank borrowing

Net interest income grew by 12 per cent to ₹596 crore, up from ₹533 crore a year earlier

Chandra is currently an Executive Director at Canara Bank.

Bank to sell more stake in associate company Equirus Capital, raise ₹1,500 crore via infra bonds in H2

Deposit to continue growing faster than credit in H2FY25

RBI is in no great hurry to immediately announce a nationwide rollout of the central bank digital currency (CBDC)

More than 1 lakh bank employees likely to be affected by DFS instruction to banks, says AIBEA General Secretary Venkatachalam

Jio Financial, helmed by veteran banker K.V. Kamath, already runs a shadow bank and an insurance brokerage and has joined forces with BlackRock Inc. to start an asset management business

Global deposits were ₹13,47,347 crore, up by 9.34 percent, while gross advances reached ₹10,11,997 crore growing by 9.53%

For the quarter ended September 30, 2024, the company’s net profit surged by 34 per cent to ₹268 crore, up from ₹199 crore

Bank expects its advances and deposits to rise at least 30-50 per cent faster than the banking system

To focus on secured loan products

With a 10,000-branch network, MD & CEO Goel eyes significant growth opportunities to expand business and scale new heights.

Total revenue from operations up 8 per cent in Q2 to ₹ 4,421 crore

Finova will use the funds to grow its loan book, invest in technology, expand geographically and further its vision of enabling financial inclusion at scale

BoB Chief Debadatta Chand says FY25 credit, deposit growth targets revised down to balance CD ratio

Festival season spending aided the 45 per cent y-o-y rise in October UPI transactions

IIFL Finance’s gold loan book had shrunk from ₹26,000 crore in early March 2024 to ₹10,000 crore by September 19, 2024

Bank prepared for Canara Robeco listing in Q4

Debasish Mishra has experience across Credit, Operations, Forex, IT, HR, and MSME sectors, both in India and overseas

Securitised debt instruments (SDIs) issued privately to be offered to a maximum of 200 investors, public offers to remain open for a minimum of three days and a maximum of 10 days, proposes SEBI

This new facility replaces paper-based BG issuance process with stamping and signatures

Bankers expect pressure on NIM to continue in Q3

The National Urban Cooperative Finance and Development Corporation will help mid and small sized UCBs upgrade their technology architecture and ensure the sector’s money remains within the sector

The appointment is for a period of three years, and the individual is qualified for reappointment. The position will have a monthly salary of Rs ₹2.25 lakh (Level-17)

This new digital service allows customers to update their KYC information without visiting the bank branch, utilising three accessible channels: the IOB website, SMS, or email

The NPAs on block were part of YES Bank’s legacy bad loan portfolio.

The proposed move is part of the Government’s ‘One State-One RRB’ goal

Genisys Group’s service spans digital application lifecycle management, cloud native solutions, data management, digital media operations and business process outsourcing

The agency noted that KVB’s advances grew by 16 per cent year-on-year

Although this profit figure is lower than the ₹60 crore recorded in the previous quarter, it marks the fourth consecutive profitable quarter for the company.

Industry experts attribute surge to substantial inflows into exchange-traded funds (ETFs), increased speculation surrounding the election outcomes

Over the last decade, the bank has significantly increased its capital investments, tripling the capital base for Deutsche Bank Group in India

This investment is part of BFL’s $1 billion fundraising goal and aims to support India’s climate goals while promoting financial inclusion

Crosses over 100 million Monthly Transacting Users milestone