Banking sector news & PSU Bank Updates

ICICI Bank Q3 results: Net profit rises 15% to Rs 11,792 crore

ICICI Bank's asset quality was largely stable, with the gross non-performing assets (NPA) ratio at 1.96% at the end of December, versus 1.97% three months earlier.

Yes Bank Q3 results: Net profit jumps 168% to Rs 612.3 crore, asset quality healthy

The net interest income of the lender was at Rs 2,223 crore.

Vault Matters | Why lenders need to be blamed for the ‘overleveraging’ mess

The recent issue of a customer complaining about being harassed by banks for repaying multiple loans despite low income, highlights a lack of proper loan assessments, inadequate tracking of borrowers' credit scores, and the dangers of increasing indebtedness due to unchecked lending practices

RBI asks banks to provide info on impact of proposed LCR norms: Report

The rules, which will kick in from April 1, require banks covered under LCR to maintain a stock of high quality liquid assets to cover the expected net cash outflows over the next 30 calendar days

Union Budget 2025: LIC MD expects tax incentives and subsidies to boost insurance penetration

On January 29, Moneycontrol reported that India’s insurance sector is expecting some key announcements in the Budget such as tax incentives for policyholders, reduction of goods and services tax (GST), and implementation of mandatory basic term life insurance coverage for formal employment

RBI governor Sanjay Malhotra to hold first meeting with bank chiefs on January 27

Sanjay Malhotra took over as the RBI governor on December 11 for a period of three years. He succeeded Shaktikanta Das

Street positive on HDFC Bank results, CLSA has a 'Hold', HSBC lowers target but keeps 'Buy' call

This steady growth in HDFC Bank's core earnings - both NII and net profit - came in despite a marginal rise in NPAs and NPA ratios.

RBI’s dollar sales may net Modi government bumper dividend again

The likely bonanza comes at a crucial time as the government is trying to revive an economy weighed down by weak consumption, anemic private sector investments and moderating tax revenues.

ICICI Prudential Life Q3 net profit rises 43% to Rs 326 crore, beats estimates

The net premium income of the insurer came in at Rs 12,261.37 crore, up 24 percent from Rs 9,929 crore in the year-ago quarter

Stress in MFI business led to dip in profitability in Q3FY25, says L&T Finance CEO

We have deliberately slowed down our rural business finance disbursements, which is high yielding business, when you slow down the disbursement, obviously, it has got an impact in the NIMs and fees, Roy said in an interview.

RBI appoints members to advisory committee on Universal and Small Finance Banks

The applications for Universal Banks and Small Finance Banks are initially screened by the regulator, to ensure 'prima facie eligibility'. Thereafter, the Standing External Advisory Committee assesses the applications.

RBI's daily VRR auction may not help higher liquidity deficit, experts say

The RBI has, so far, conducted two VRR auctions — on January 17 and January 20 — and infused Rs 1.09 lakh crore in the banking system

InduInd Bank’s CFO Gobind Jain resigns, deputy CEO Arun Khurana to take over

The top executive resigned on January 17 and will cease to be key managerial personnel of the bank effective from the closing hours of January 20

High delinquencies in microfinance segment widen Q3 slippages, says Kotak Mahindra Bank

The private lender’s fresh slippages in the reporting quarter stood at Rs 1,675 crore, as compared to Rs 1,177 crore in a year ago period, and Rs 1,875 crore in a quarter ago period.

RBL Bank Q3 results: Net profit falls 86% YoY to Rs 32.63 crore

Sequentially, net profit fell 85 percent.

Vault Matters | Will the zing factor make a comeback in bank stocks?

The banking sector's performance has stagnated due to low growth, asset quality stability, and missing differentiation among banks. With valuations dropping and no fresh triggers for re-rating, investor interest remains muted, leaving the sector without a clear path forward

Axis Bank Q3 FY25 — Better to be on the back foot in the near term

The quarter gone by was challenging as growth declined and interest margin contracted

RBI says Tata Sons appeal to avoid listing under consideration

As per the extant regulations, non-banks classified as upper layer entities must be listed within three years from date of classification

Closing due diligence underway at IDBI Bank

Financial bids will be called once the diligence report is finalised, which according to sources may happen by the end of March

Small lenders had it tough in 2024, will 2025 see a recovery?

It's not just a funding squeeze that's a bother for MFIs, their asset quality too has shown deterioration in 2024 and there are regulatory concerns on lending discipline

Bank of India seeks first dollar loan in more than a decade

The lender is raising the loan — split into three- and five-year tranches — via its branch located in Gujarat International Finance Tec-City

Ionic will be ready to go live soon: Srikanth Subramanian, co-founder and CEO, Ionic Wealth (By Angel One)

Srikanth Subramaniantalks about his target customer base which is the Rs 1 – 50 crore income bulge and how the company wants to be a 'co-founder' to them in the process of wealth creation

Bank holidays in January 2025: Are banks shut on January 13 or 14 for Makar Sankranti and Lohri? Check city-wise list

Bank holidays in January 2025: Are banks shut on Jan 13 or 14 for Makar Sankranti and Lohri? Check city-wise list

Vault Matters: Banks must rethink business strategies to address high attrition

High attrition among private banks is something the RBI has been concerned about for the last two years. But solving this issue is not in the regulator’s hand. Will banks recognise the flaws in the system?

Roadshows for HDB Financial’s IPO underway

HDFC Bank plans to roll out the initial public offering of its non-banking arm within two or three weeks of getting the go-ahead from Sebi

Axis Bank – Can the stock reverse underperformance?

Stagnating earnings possibilities for H2FY25 limit meaningful short-term upside

Jefferies predicts 2025 as the 'Year of Easing' for Indian banks

Among private banks, ICICI Bank, Axis Bank, and HDFC Bank are identified as top picks, with Kotak Mahindra Bank upgraded from Hold to Buy due to improved valuations.

RBI removes supervisory curbs on Asirvad and DMI Finance

RBI said in a statement that it is satisfied with the companies’ submissions over their revamped processes, and commitment to adhere to regulatory guidelines on an ongoing basis.

Eight wishes for Indian banking in 2025

Both economic and geopolitical contexts have deteriorated since the beginning of the previous year. After a robust performance in FY24, banks have begun experiencing challenges. In this backdrop, here’s a wish list to navigate a challenging year safely

MC Exclusive | M&M Finance in the process of restructuring its housing arm

The new leadership at the parent company is clear that the mortgage business has to move out of the affordable homes segment in order to pare its bad loans book.

RBI should allow more Rupee volatility, says former RBI Deputy Governor Viral Acharya

Acharya’s comments come at a time when markets await clarity on whether new RBI Governor Sanjay Malhotra would continue with his predecessor’s approach of intervening firmly in the currency market.

Banking Central | A humble request to banks: Don't spoil my New Year with cold calls

On a normal day, anything around 10 calls land on my phone from various non-bank financiers and loan apps dishing out personal loan offers with lightening-fast sanctioning process

Major exit at Kotak Mahindra Bank as COO and CTO Milind Nagnur steps down

The resignation dated January 3 informed that Nagnur's last day at the bank would be February 15, 2025. An interim structure has been put in place at the bank to ensure smooth functioning, said the company.

RBI approves merger of National Co-operative Bank with Cosmos Co-operative Bank

The branches of The National Co-operative Bank Ltd., Bangalore (Karnataka) will function as branches of Cosmos Co-operative Bank Limited (Maharashtra) with effect from January 6, 2025, says RBI

Vault matters | Thinning bank credit growth needs RBI’s immediate attention

While it is often perceived that bank credit growth is a derivate of GDP growth, the fact is both are interlinked. If credit growth posted by banks is muted, GDP growth is unlikely to outperform the loan growth data. At 11.5% as per recent RBI data, bank loan growth isn’t very inspiring

Aim to double customer base by end-2025: Tide India CEO

Gurjodpal Singh of Tide India is optimistic about meeting the target of a million customers within the next year, given the pace at which the company has progressed so far.

MFIN defers capping lenders to each borrower by three months, other covenants come into effect

MFIN had in November introduced the measure to reduce number of lenders to a borrower to three, from previously four. MFIN also recommended to cap the indebtedness of a MFI borrower to Rs 2 lakh.

CSB Bank shares 3% higher on strong deposit growth, healthy gold loan book

The business update shared by CSB Bank on January 1 showed that the total deposits grew by 22.17% on year to Rs 33,406 crore, and advances against gold and gold jewellery rose by 36.28% YoY to Rs 13,018 crore.

MC Exclusive | Third term as Axis Bank chief will be about continuing our journey: Amitabh Chaudhry

Axis Bank MD and CEO speaks exclusively to Moneycontrol as he takes charge for the third term, shares his insight into the House of GPS and the road ahead

Data-Driven Disruption: Insights from Moneycontrol India Fintech Conclave 2024

The Conclave, with the theme “Innovate: Transform: Regulate”, which returned after the success of its inaugural edition last year has been a definitive platform for fintech leaders, policymakers, start-up founders, bankers, regulators and technologists.

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