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    Election, heatwave impact bring down IndusInd Bank’s Q1 disbursements

    The bank grew its total loans by 15% on year to Rs 3.48 lakh crore. It grew only 1% sequentially as loan growth in the microfinance book fell by more than 5% while growth in credit cards was almost flat. Corporate loans were up 12.8% on year to Rs 1.57 lakh crore.

    Higher bad loans due to seasonal stress in agri biz, indicates Axis Bank

    Axis Bank witnessed a sequential decline in asset quality metrics for the June quarter due to seasonal effects on agriculture business. Gross non-performing asset ratio rose to 1.54%. Net profit marginally increased to Rs 6,035 crore as provisions doubled compared to the previous year. Credit costs are expected to rise, especially in the unsecured portfolio.

    NARCL lines up another Rs 1.25 lakh cr of NPAs from banks

    NARCL started operation in January 2022 and acquires bad loans from banks, by paying 15% of the amount in cash and the rest in security receipts (SRs) which are to be matched with recovery over time. These SRs are guaranteed by the government, valid for five years, to be invoked by banks in case of resolution or liquidation of the bad loan.

    Kotak Mahindra Bank increases customer base, customer assets by 20% YoY

    Kotak Mahindra Bank's first-quarter FY25 financial report shows a remarkable performance, with a PAT of Rs 6,250 crore, an 81% increase YoY, largely due to divesting its stake in Kotak General Insurance. Excluding this gain, PAT stands at Rs 3,520 crore. NII rose to Rs 6,842 crore, NIM at 5.02%, and fees income up by 23% YoY. Customer base, assets, and deposits all showed significant growth, with improved asset quality.

    South Indian Bank Q1 Results: Net profit soars 45% YoY to Rs 294 crore

    The bank's net interest income went up from Rs 807.77 crore to Rs 865.77 crore, up 7.18 % on a year-on-year basis. Gross advances grew by Rs. 8,478 crore from Rs. 74,102 to Rs. 82,580 Crore, up 11.44 percent on a year-on-year basis.

    Indian banks' gross NPA ratio at multi-year low of 2.8%, net NPA down to 0.6% in FY24: RBI Fin Stability Report

    The Reserve Bank of India reported that Indian banks' gross NPA ratio reached a multi-year low of 2.8%, with net NPA at 0.6% by March 2024. The global economy faces risks from geopolitical tensions and high public debt, but India's financial system remains robust, supporting economic growth through sustained credit expansion, the RBI said.

    • Improving asset quality, reach to keep Jana SFB on growth path

      JSFB provides micro financing, secured business loans, loans against property, micro, small and medium enterprises loans, loans against deposits and gold, and loans to finance companies. The bank strives to reduce reliance on unsecured loans by expanding the portfolio of secured loans. At the end of March 2024, its total loan book was worth Rs 24,746 crore.

      PNB Q4 results: Net profit surges 160% YoY to Rs 3,010 crore; NII rises 9%

      Public sector lender Punjab National Bank (PNB) on Thursday reported a 160% year-on-year (YoY) surge in Q4 net profit at Rs 3,010 crore, while the net interest income (NII) rose to Rs 10,363 crore in the quarter, rising 9% YoY.

      Canara Bank Q4 results: Net profit up 18% on retail growth, fall in provisions

      CEO K Satyanarayana Raju said the bank expects to deliver 11-12% loan growth in the current fiscal year despite conscious efforts to shed low-yielding corporate loans.

      IOB to sell 92 NPA accounts having Rs 13,472 cr loan outstanding

      Indian Overseas Bank to e-auction 92 non-performing loans worth Rs 13,471.68 crore. Loans include consortium arrangements, NCLT cases, sole banking ventures. Gross NPA reduced to 3.90% by December 31, 2023.

      KVS Manian joining Federal Bank? Lender mum on new chief decision, gives a hint over succession plans

      Federal Bank declined to comment on reports of KVS Manian as MD & CEO candidate, emphasizing their search for the best candidate, internal or external. Manian, a former Kotak Mahindra Bank executive, is speculated for the role. Federal Bank reported Q4FY24 earnings, with a net profit of Rs 906 crore

      Banks' GNPAs set to improve further to 2.1 pc by FY25: Report

      The gross non-performing assets (GNPA) of the Indian banking system are set to improve further to up to 2.1 per cent by the end of FY25, a report said on Friday. GNPAs are likely to come at 2.5-2.7 per cent in FY24 and will improve further to 2.1-2.4 per cent by the end of FY25, domestic rating agency Care Ratings said in the report.

      RBI’s warning on exuberant retail lending has deeper dimensions

      A recent RBI research delves into the empirics of retail credit growth and concludes that the quality of retail loan portfolio is healthy across banks, product categories, and borrower risk classes, even as growth continues to surge.

      Karnataka Bank posts all-time high profit

      Mangaluru-based Karnataka Bank recorded a net profit of Rs 1,032.04 crore for the nine months of the financial year ending December 2023, a 25% YoY growth. The bank's Q3FY net profit stood at Rs 331.08 crore, a 10.11% increase YoY. The board of directors meeting in Mangaluru approved the financial results. Karnataka Bank's business turnover reached Rs 1,61,936.36 crore with advances of Rs 69,740.97 crore and deposits of Rs 92,195.39 crore. The bank's asset quality improved, with GNPA declining to 3.64% and NNPA declining to 1.55%.

      Karnataka Bank shares tank 12% on lower YoY NIMs, higher GNPA

      Karnataka Bank reported the December quarter NII at Rs 827.60 crore down by 0.86% from Rs 834.76 crore reported in the year-ago period. Meanwhile, the NIMs were lower by 35 bps at 3.46% for the October-December quarter versus 3.81% reported in Q3FY23.

      Aiming to have best asset quality among HFCs: Girish Kousgi, PNB Housing Finance

      I think we had a very good quarter two. We stick to our book growth guidance of 17 to 18%. So as I mentioned earlier, first we will catch up with disbursement and then the book growth would follow.

      Credit growth to moderate to 13.2 pc in FY24; NPAs will improve further: Icra

      Credit growth in the banking system is expected to moderate to 12.1-13.2% in the current fiscal, down from 15.4% in the previous year, according to rating agency Icra. The agency also predicts a decrease in the Gross Non-Performing Assets (GNPA) ratio to 2.8-3% by March 2024.

      Banks face a highly uncertain outlook, RBI report says

      The consolidated balance sheet of Indian banks saw double-digit growth in 2021-22, after a gap of seven years, said the Reserve Bank of India in its report on the Trend and Progress of Banking in India 2021-22. "​​With global growth set to deteriorate in 2022 and with rising prospects of a recession in 2023, credit growth could procyclically decelerate across major economies which, in turn, could shrink bank profitability," RBI said.

      Bank credit growth at 16.2 %, more than double last year's pace

      ank credit rose 16.2 percent to Rs 125.5 lakh crore as of September 9'22 over last year's levels. This is reckoned to be the highest growth in more than eight years and more than double the pace of 6. per cent growth in September'21. Analysts attribute this to a surge in corporate demand besides a steady growth in retail and MSME loans.

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