IDFC First Bank Q3FY24 net profit grows 18% to Rs 716 cr
Jan 22, 2024, at 02:23 am
Mumbai: IDFC First Bank, a private sector lender, announced a net profit of Rs 715.68 crore for the October-December quarter of the financial year 2023-24, growing 18.37 percent from Rs 605 crore in the corresponding period of the previous year.
Union Bank of India Q3FY24 net profit jumps 60% YoY to Rs 3,589; NII stands at Rs 9,168 cr
Jan 21, 2024, at 11:28 pm
Mumbai: The state-run Union Bank of India Saturday declared a 60 percent increase in its standalone net profit, reaching Rs 3,589.91 crore for the third fiscal quarter.
South Indian Bank Q3 FY 23: Profit soars 197% YoY to Rs 305 cr
Jan 20, 2024, at 08:15 pm
Thrissur (Kerala): Private sector lender South Indian Bank reported a net profit Rs 305.36 crore in Q3 FY 24, demonstrating a remarkable surge of 197.19% from Rs 102.75 crore in Q3 FY 23.
RBI revises guidelines on dividend issue by banks
Jan 03, 2024, at 04:33 am
Mumbai: The Reserve Bank of India (RBI) Tuesday conducted a review of the guidelines, eligibility criteria, and board oversight related to the declaration of dividends by banks.
Unclaimed deposits with banks rise 28% YoY to Rs 42,272 cr
Dec 20, 2023, at 03:52 am
New Delhi: There has been a significant 28 percent annual increase in unclaimed deposits held by banks, amounting to Rs 42,270 crore, the government informed the Parliament on Tuesday.
RBI prohibits lenders from investing in AIFs linked to their borrowers
Dec 20, 2023, at 03:20 am
Mumbai: The Reserve Bank of India (RBI) on Tuesday said that entities under its regulation, including banks, non-bank lenders, and home financiers, are prohibited from investing in alternative investment funds (AIFs) that have, either directly or indirectly, invested in companies that have borrowed funds from these lenders.
Yes Bank looks for buyers to sell its portfolio of distressed corporate and retail loans
Dec 13, 2023, at 04:16 am
Mumbai: Yes Bank is planning to sell another portfolio worth a little over Rs 4,200 crore, ET reported.
Top banks ask fintech partners to limit small ticket loans
Dec 08, 2023, at 06:31 am
Mumbai: Leading banks and non-banking financial institutions in India have reportedly asked their fintech partners to limit the issuance of small personal loans, as disclosed by three banking sources and one industry insider on Thursday, Reuters reported.
Bank of Baroda to issue bonds worth Rs 5,000 cr
Nov 30, 2023, at 04:47 am
Mumbai: Bank of Baroda is set to issue bonds worth Rs 5,000 crore on November 30, Moneycontrol reported.
DBS Bank India opens new branch at Kolkata's Russell Street
Nov 29, 2023, at 06:44 am
Kolkata: Private sector lender DBS Bank India has opened a new branch at Kolkata’s Russell Street.
Govt advises banks to appoint nodal officers for cyber security following UCO Bank incident
Nov 29, 2023, at 05:17 am
New Delhi: Taking note of the increasing incidents of bank fraud, the Finance Ministry Tuesday advised banks to appoint nodal officers to address cyber security concerns.
RBI takes over the board of Abhyudaya Cooperative Bank over governance concerns
Nov 25, 2023, at 05:01 am
Mumbai: The Reserve Bank of India (RBI) on Friday took over the board of Abhyudaya Cooperative Bank in Mumbai, citing major concerns regarding inadequate corporate governance standards, the central bank said in a statement.
Banking liquidity shortage widens to Rs 1.74 trillion
Nov 23, 2023, at 06:17 am
Mumbai: The liquidity deficit in India's banking system widened on Tuesday to its highest level in almost five years due to monthly goods and services tax payments.
Finance Ministry asks public sector banks to examine and enhance cybersecurity
Nov 20, 2023, at 12:02 am
New Delhi: The Finance Ministry has asked state-owned banks to reassess their digital operations in light of the recent UCO Bank incident, media reports said.
Union Bank Q2FY24 soars 90% YoY to Rs 3,511 cr; NII stands at Rs 9,126 cr
Oct 28, 2023, at 04:24 am
Mumbai: Public sector lender Union Bank recorded a net profit of Rs 3,511 crore in the quarter ending September of FY24, surging 90 percent compared to the Rs 1,848 crore reported in the same period last year.
ICICI Bank reports Rs 10,261 cr net profit in Q2FY24, up 36% YoY; NII grows 24%
Oct 22, 2023, at 09:47 am
Mumbai: ICICI Bank posted a 35.7 percent year-on-year surge in standalone profit and a 24 percent increase in net interest income for the July-September quarter of the fiscal year 2023-24 (Q2).
Central Bank of India reports Q2FY24 net profit of Rs 605 cr; NII grows 10%
Oct 21, 2023, at 05:00 am
Mumbai: State-owned Central Bank of India announced a net profit of Rs 605.4 crore for the fiscal quarter spanning July to September.
Bibhu Prasad Mahapatra assumes charge as Executive Director on the Board of PNB
Oct 11, 2023, at 06:15 am
New Delhi: Bibhu Prasad Mahapatra has assumed the charge as the Executive Director on the Board of Punjab National Bank, the Ministry of Finance said on Tuesday.
HDFC Bank making changes to top management after mega merger
Oct 04, 2023, at 04:21 am
Mumbai: HDFC Bank is revamping its top management to bolster its mortgage business following its acquisition of another lender three months ago, Bloomberg reported.
BOI raises Rs 2,000 cr at 7.88 pc in Tier II Bond Offering
Sep 14, 2023, at 09:00 am
Hyderabad/UNI: Bank of India (BoI) a leading public sector bank, on Wednesday announced it has raised Basel III compliant Tier II bonds of Rs.2,000 crores @ 7.88% p.a, through NSE’s Electronic Bidding Provider Platform.
RBI revises rules for classification and operation of investment by banks
Sep 13, 2023, at 04:57 am
Mumbai: The Reserve Bank of India (RBI) said on Tuesday that it has amended the existing norms for the classification, valuation, and operation of investment portfolios of commercial banks based on the feedback it received from a discussion paper.
Union Bank of India raises Rs 5,000 cr equity capital via Qualified Institutions Placement
Aug 26, 2023, at 02:56 am
Mumbai: Union Bank of India, the fifth largest Public Sector Bank in India, successfully raised equity capital of Rs 5000 crore via Qualified Institutions Placement (QIP) on Friday.
Barclays revamps top management in India with new appointments: Report
Aug 20, 2023, at 02:37 am
Mumbai: Barclays Plc on Friday announced the appointment of new executives to its top management in India, which is a major overseas market for the lender.
Deposits and advances of PSBs grew by 15.8% in FY23
Aug 02, 2023, at 05:30 am
New Delhi: The growth of deposits and advances of PSBs has improved from 8.2% and 9.8% in FY2021-22 to 9.3% and 15.8% in FY2022-23.
US Fed slaps $186 mn fine on Deutsche Bank over unsafe practices
Jul 20, 2023, at 06:30 am
The US Federal Reserve has imposed a fine of $186 million on German lender Deutsche Bank for violations related to sanctions and deemed "unsafe and unsound" banking practices at its US subsidiaries, AFP reported.
Bandhan Bank's CFO Sunil Samdani steps down
Jul 05, 2023, at 02:55 am
Mumbai: Bandhan Bank on Tuesday announced that its Chief Financial Officer (CFO), Sunil Samdani, has resigned from his position on July 3 in order to pursue a new opportunity.
IDFC First Bank plans merger with IDFC
Jul 04, 2023, at 05:16 am
Mumbai: The board of IDFC First Bank has given its approval for the merger of IDFC Ltd and IDFC Financial Holding Company with the bank through a scheme of amalgamation.
Banking sector set to achieve best asset quality; Net NPAs to drop to best level in over a decade
Jun 15, 2023, at 01:49 am
New Delhi: The banking sector is set to achieve its best asset quality in over a decade this fiscal year, with headline gross NPAs and net NPAs declining to 2.63% and 0.83% respectively in March 2023, according to Moody's and Icra Ratings, reported media.
Banks seek one more year to implement new loan provisioning system
May 17, 2023, at 06:42 am
Mumbai: Banks have appealed to the RBI for an additional year to implement the Expected Credit Loss (ECL) system for loan provisioning, said media reports.
Ujjivan Small Finance Bank Q4FY23 PAT jumps 145% to Rs 310 cr
May 12, 2023, at 12:12 am
Kolkata: Ujjivan Small Finance Bank on Thursday reported a Profit After Tax (PAT) of Rs 310 crore for Q4FY23 and Rs1,100 crore for the entire fiscal year, marking its best-ever performance owing to the bank's effective strategies and successful implementation of its business plan, according to a statement.