At present, account holders of the country's second largest public sector bank can make any number of transactions in a month, financial or non-financial, at the bank's ATMs without attracting any charge.
Owning a house of our own is something we all dream of. In this episode of Quest for Excellence, we delve into the success story behind India’s fastest growing housing finance company, PNB Housing Finance.
On the asset quality front, the net NPAs surged to Rs 34,573 crore against Rs 32,702 crore in the previous quarter. Meanwhile, the gross NPAs stood at Rs 57,721 crore against Rs 55,370 crore quarter on quarter.
Analysts said if slippages come below Rs 6,000 crore, loan growth in double digits, and improvement in net interest margin & gross non-performing assets then that will be positive.
Ashwani Gujral of ashwanigujral.com suggests buying CESC, Sintex and Indiabulls Housing and advises selling Idea Cellular on rally.
Fresh momentum is possible only above 9,710 and on the downside a move below 9,560 would lead to a breakdown from recent consolidation.
In an interview to CNBC-TV18, Ravikant Bhat, Research Analyst at IDBI Capital shared his readings and outlook on Punjab National Bank's Q4 numbers. He also expressed his views on State Bank of India's Q4 numbers will be released on Friday.
Gross non-performing assets as a percentage of gross advances fell to 12.53 percent from 13.7 percent and net NPAs fell to 7.81 percent from 9.09 percent on sequential basis.
Any improvement in net interest margin and lower slippages trend will be considered positive by the Street.
Ashwani Gujral of ashwanigujral.com suggests buying Union Bank of India, Bank of Baroda and PNB.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. Subros, Blue Star, SBI, Kotak Mahindra Bank and PNB.
Vijay Chopra of Enoch Ventures suggests buying Jet Airways with a target of Rs 400.
Market experts expect consolidation to continue on Wednesday as the market seems to have priced in rate cut that is likely in forthcoming monetary policy on February 28.
Nifty PSU Bank gained half a percent after improvement in asset quality of Punjab National Bank, the country's third largest public sector lender by market capitalisation. SBI and Bank of Baroda are also going to announce their quarterly earnings on February 10.
Amtek Auto shares gained 11 percent after sources told CNBC-TV18 that the auto ancillary company is expected to close asset monetisation deals by March 2017 and is likely to raise USD 1 billion via asset monetisation that may result in debt reduction of Rs 6,000-7,000 crore.
Net interest income, the difference between interest earned and interest expended, fell 9.4 percent year-on-year to Rs 3,730.80 crore in October-December quarter, with negative loan growth of 1.8 percent at Rs 3.85 lakh crore.
Punjab National Bank shares gained nearly 3 percent after fall in slippages to Rs 4,800 crore and stable asset quality in Q3.
Key questions of analysts are that will bank's slippages continue to trend downwards; will recovery & upgrades continue; will credit cost fall further and will gross non-performing assets improve further.
Speaking to CNBC-TV18, Sanjaya Gupta, Managing Director of PNB Housing Finance, said the retail segment had driven loan growth in the third quarter.
Taking a cue from State Bank of India, other lenders including India‘s largest private sector lender ICICI Bank and state-owned Oriental Bank of Commerce and Andhra Bank, have announced cuts in their marginal cost R
MCLR-based lending system ensures that any future cuts are transmitted to the borrowers. So even if interest rates are cut in the future, borrowers will be able to get the benefits of the rate cuts.
Interest rate is one of the factors, and probably the most important one, while taking a loan. However, there are other things that are important to consider.
In an interview with CNBC-TV18 he advised investors to keep modest profit targets in light of the current market scenario and said that Bank Nifty is likely to underperform in the near term, where one should use the dips to buy and rallies to sell.