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Banks - Private Sector News

  • LIC ties up with Axis Bank to sell life covers

    LIC ties up with Axis Bank to sell life covers  

    In one of the largest bancassurance partnerships since life insurance policy sale by banks was liberalised, industry behemoth LIC and third largest private sector lender Axis Bank today entered into a tie-up to sell the former's ...

    28 Jul 2016, 9.08 pm  |  Source: PTI

  • Can sustain 27-30% credit growth over next few years: Yes Bank

    Can sustain 27-30% credit growth over next few years: Yes Bank   

    Speaking to CNBC-TV18 after Yes Bank reported its quarterly earnings, MD and CEO Rana Kapoor says sectors like agri, renewable energy and small and medium enterprises (SME) are witnessing good credit growth.

    27 Jul 2016, 7.00 pm  |  Source: CNBC-TV18

  • Nationalise pvt banks not doing fin inclusion agenda: BJP MP

    Nationalise pvt banks not doing fin inclusion agenda: BJP MP  

    Raising the issue during Zero Hour in Lok Sabha, Chintaman Malviya alleged that banks like ICICI, Kotak Mahindra, YES and Axis have become "organised racket of profiteers" which have nothing to do with implementing schemes like th...

    27 Jul 2016, 3.18 pm  |  Source: PTI

  • Yes Bank Q1 profit up 33%, revenue in-line; asset quality stable

    Yes Bank Q1 profit up 33%, revenue in-line; asset quality stable   

    "Advances grew by 33 percent YoY to Rs 1,05,942 crore while deposits increased 28.6 percent at Rs 1,22,581.1 crore as of June 2016," the private sector lender said.

    27 Jul 2016, 11.44 am  |  Source: Moneycontrol.com

  • ICICI Bank to discontinue some service pacts with 3i Infotech

    ICICI Bank to discontinue some service pacts with 3i Infotech  

    "...the Company has received letter dated July 26, 2016 from ICICI Bank Limited informing the company that ICICI Bank would like to discontinue some of the service contracts with the company and its group companies effective July ...

    26 Jul 2016, 9.36 pm  |  Source: PTI

  • Karur Vysya Bank Q1 net up 8% at Rs 146 cr

    Karur Vysya Bank Q1 net up 8% at Rs 146 cr  

    For the financial year ending March 31, 2016, total income was at Rs 6,150.21 crore.

    26 Jul 2016, 6.54 pm  |  Source: PTI

  • IDFC Bank Q1 net profit rises 60%

    IDFC Bank Q1 net profit rises 60%  

    The Board of Directors of IDFC Bank today approved the financial results for the first quarter ended June 30, 2016.

    26 Jul 2016, 4.50 pm  |  Source: PTI

  • Karur Vyasa Bank to focus on retail, sees no big jump in NPAs

    Karur Vyasa Bank to focus on retail, sees no big jump in NPAs   

    The bank reported stable first quarter numbers with 8.7 percent rise in net profit to Rs 146.3 crore while the net interest income rose 13.7 percent to Rs 481.1 crore. Gross non-performing assets (NPA) for Q1 were 1.79 percent as ...

    26 Jul 2016, 2.00 pm  |  Source: CNBC-TV18

  • Karur Vysya Bank Q1 profit rises 9%, asset quality deteriorates

    Karur Vysya Bank Q1 profit rises 9%, asset quality deteriorates  

    Asset quality deteriorated further during the quarter as gross non-performing assets (NPA) rose 49 basis points to 1.79 percent and net NPA 24 basis points to 0.79 percent on sequential basis.

    26 Jul 2016, 1.35 pm  |  Source: Moneycontrol.com

  • Intent is for watchlist to dissolve itself in 8 qrts: Axis Bank

    Intent is for watchlist to dissolve itself in 8 qrts: Axis Bank   

    Speaking to CNBC-TV18 after Axis Bank reported its first quarter results, CFO Jairam Sridharan said this quarter panned out fairly in line with his earlier guidance that 60 percent of the roughly Rs 22,000-crore watchlist could sl...

    25 Jul 2016, 7.29 pm  |  Source: CNBC-TV18

  • RBI imposes Rs 2-crore penalty on HDFC Bank

    RBI imposes Rs 2-crore penalty on HDFC Bank  

    The RBI has also slapped a fine of Rs 5 crore on Bank of Baroda (BoB) over Rs 6,100-crore scandal exposed last year.

    25 Jul 2016, 5.46 pm  |  Source: PTI

  • ICICI, Axis banks join Swift`s global payments initiative

    ICICI, Axis banks join Swift's global payments initiative  

    The initiative aims to enhance cross-border payments by leveraging Swift's messaging platform and global reach and in the first phase, the initiative will focus on business-to-business payments.

    25 Jul 2016, 2.58 pm  |  Source: PTI

  • Improving asset quality led to lower Q1 slippages: Federal Bank

    Improving asset quality led to lower Q1 slippages: Federal Bank   

    The bank reported a 18.3 percent rise in net profit to Rs 167 crore in the first quarter while the gross non-performing assets (NPA) grew to 2.92 percent as against 2.84 percent quarter-on-quarter.

    25 Jul 2016, 9.08 am  |  Source: CNBC-TV18

  • Axis Bank Q1 profit down 21% as provisions up 89%; NPA worsens

    Axis Bank Q1 profit down 21% as provisions up 89%; NPA worsens   

    Net interest income, the difference between interest earned and interest expended, grew by 11.4 percent to Rs 4,516.92 crore in the quarter ended June 2016 compared with Rs 4,056.23 crore in same period last fiscal.

    22 Jul 2016, 5.23 pm  |  Source: Moneycontrol.com

  • Federal Bank Q1 net grows 18% to Rs 167 crore

    Federal Bank Q1 net grows 18% to Rs 167 crore  

    The total earnings of the bank increased to Rs 2,250.8 crore for the quarter under review, as against Rs 2,107.09 crore a year before, the bank said in a regulatory filing.

    22 Jul 2016, 2.58 pm  |  Source: PTI

  • No major exposure to stressed sectors: HDFC Bank

    No major exposure to stressed sectors: HDFC Bank  

    In the quarter ended June 30, the bank's gross non- performing assets were up at 1.04 percent from 0.95 percent a year ago. The net NPA of the leading private lender stood at 0.3 percent as against 0.27 percent in the same quarter...

    22 Jul 2016, 8.22 am  |  Source: PTI

  • Federal Bank partners Jio Money for One-Click payment service

    Federal Bank partners Jio Money for One-Click payment service  

    Federal Bank today said it has signed an agreement with Reliance Jio Money for One-Click payment service.

    21 Jul 2016, 9.26 pm  |  Source: PTI

  • Kotak Mahindra Bank to raise Rs 5,000 cr via bonds

    Kotak Mahindra Bank to raise Rs 5,000 cr via bonds  

    "The board of directors of the company at its meeting held on July 21 has approved the business for seeking consent of the shareholders... for issuance of unsecured, redeemable, non-convertible debentures/bonds up to Rs 5,000 cror...

    21 Jul 2016, 2.32 pm  |  Source: PTI

  • HDFC Bank says `comfortable` with higher bad loans in Q1

    HDFC Bank says 'comfortable' with higher bad loans in Q1  

    Gross bad loans as a percentage of total loans rose to 1.04 percent as of June 30 from 0.94 percent as of end-March, which the bank's deputy managing director Paresh Sukthankar said was driven by small-and-medium corporate borrowe...

    21 Jul 2016, 2.25 pm  |  Source: Reuters

  • Kotak Mahindra Bank Q1 profit jumps 4-fold, NII below estimates

    Kotak Mahindra Bank Q1 profit jumps 4-fold, NII below estimates   

    Operating expenses declined significantly during the quarter due to fall in employee cost and almost flat other expenses. Employee cost for the quarter ended June 2015 included provisions of Rs 339 crore towards benefits payable t...

    21 Jul 2016, 1.38 pm  |  Source: Moneycontrol.com

  • HDFC Bank Q1 profit rises 20%, provisions & NPA remain higher

    HDFC Bank Q1 profit rises 20%, provisions & NPA remain higher   

    India's second largest private sector lender HDFC Bank matched analysts' expectations on Thursday with the profit rising 20.14 percent year-on-year to Rs 3,239 crore.

    21 Jul 2016, 11.57 am  |  Source: Moneycontrol.com

  • S&P takes HDFC Bank`s 3 bond sales off negative watch list

    S&P takes HDFC Bank's 3 bond sales off negative watch list  

    S&P affirms its 'BBB-' long-term issue rating on the senior unsecured bonds issued by the Bahrain branch of the bank.

    20 Jul 2016, 6.24 pm  |  Source: PTI

  • Lakshmi Vilas Bank Q1 profit rises 51% on NII, low provisions

    Lakshmi Vilas Bank Q1 profit rises 51% on NII, low provisions   

    Net interest income, the difference between interest earned and interest expended, grew by 22.2 percent to Rs 177.5 crore in the quarter ended June 2016 from Rs 145.2 crore in same period of last fiscal.

    20 Jul 2016, 3.08 pm  |  Source: Moneycontrol.com

  • Daily wrap up: News from the world of business

    Daily wrap up: News from the world of business  

    Private sector lender Lakshmi Vilas Bank today appointed N S Venkatesh as its executive director.

    19 Jul 2016, 6.48 pm  |  Source: PTI

  • Moody`s maintains long-term rating on YES Bank

    Moody's maintains long-term rating on YES Bank  

    "Moody's Investors Service, vide its Credit Opinion dated July 18, has maintained long-term rating on Yes Bank Ltd at 'Baa3/P-3' with stable outlook," Yes Bank said in a filing to the BSE.

    19 Jul 2016, 2.26 pm  |  Source: PTI

  • Expect slippages to cross 2% in next 6 quarters: City Union Bank

    Expect slippages to cross 2% in next 6 quarters: City Union Bank   

    The bank is capital sufficient, and we expects a good loan growth in FY17, says N Kamakodi, the MD and CEO of City Union Bank.

    19 Jul 2016, 11.30 am  |  Source: CNBC-TV18

  • Moody`s flags YES Bank asset quality issues

    Moody's flags YES Bank asset quality issues  

    "Given the high concentration risk and the dominance of corporate loans, we are still concerned about the asset quality and expect some further deterioration, given the pressure on Indian corporates," Moody's said in its credit op...

    19 Jul 2016, 9.24 am  |  Source: PTI

  • RBI allows foreign players to hike stake in Axis, IDFC Bank

    RBI allows foreign players to hike stake in Axis, IDFC Bank  

    The Reserve Bank of India (RBI) said both Axis Bank and IDFC Bank passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing on enhancing the limit for the purchase of its equity sha...

    15 Jul 2016, 7.36 pm  |  Source: PTI

  • ICICI group to train 1 lakh youth by 2017: Kochhar

    ICICI group to train 1 lakh youth by 2017: Kochhar  

    ICICI Foundation for Inclusive Growth had launched the ICICI Academy for Skills in October 2013 to provide vocational training to economically weaker youths to help them earn a sustainable livelihood.

    15 Jul 2016, 5.08 pm  |  Source: PTI

  • HDFC raises Rs 3,000 cr in 1st ever masala bonds issue

    HDFC raises Rs 3,000 cr in 1st ever masala bonds issue  

    The Rs 3,000-crore issue of unsecured rupee-denominated bonds bears a fixed semi-annual coupon of 7.875 percent per annum and has a tenor of 3 years and 1 month, HDFC said in a statement.

    15 Jul 2016, 1.16 pm  |  Source: PTI

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