“So, we will have to wait and watch, but as things stand today, the commodity prices are under pressure, metal prices are under pressure, and we will have to wait and watch what happens. Again, I will repeat, it will to a great extent depend on what happens in China,” says Sudip Bandyopadhyay, Group Chairman, … Read more
Mumbai: India’s non-state banks are likely entering a period of margin compression, deterioration in asset quality, rising provisions and high credit costs, the June-quarter results for most private sector lenders have signalled. Banks are also expected to see intense competition in deposit accretion that could push up fund costs. Apart from the seasonal impact, heightened … Read more
Mumbai: Private sector IndusInd Bank Friday reported a flat 2% on-year rise in its June quarter net profit at ₹2,171 crore as business slowed in a seasonally weak review period that the lender’s chief executive described as “challenging.” Analysts tracked by Bloomberg had pegged net profit of ₹2,358.6 crore. The lender had earned a net … Read more
India Ratings and Research expects vehicle financiers to increase the share of used vehicles in their overall vehicle asset under management (AUM). This is because the rising new vehicle prices, driven by the changes in emission norms, technological changes and higher commodity prices, have made the purchase of new vehicles out of reach for first-time … Read more
Rishi Anand, MD & CEO, Aadhar Housing Finance, says the timing of the election, as their bankers have suggested, does not matter too much. So, they have gone ahead with the listing. In the entire context of getting Sebi approval for IPO in 2022 and not going ahead with it and then coming back with … Read more
Showcasing a sharp earnings turnaround on asset quality improvements, robust margins and strong loan book growth in a multi-year credit upcycle, the combined net profit of all 12 PSU banks has zoomed nearly 4.5 times in just 3 years to record high levels of Rs 141,203 crore in FY24. On a year-on-year basis, the profit … Read more
Canara Bank on Wednesday posted 18% growth in its standalone net profit at Rs 3,757 crore for the quarter ended March 2024. The same stood at Rs 3,174 crore in the last year period. Net interest income (NII) for the reporting quarter increased 11% year-on-year (YoY) to Rs 9,580 crore. The company’s Board has also … Read more
Mumbai: Tinkering with the interest rate alone may not help with the repayment ability of home loan borrowers, according to a research paper supported by the Reserve Bank of India. Prudential measures like risk weights and loan-to-value adjustments, along with interest rates, will be more effective in repayments of loans. This will also help in … Read more
Mumbai: Bandhan Bank fell more than 6% Monday after founder and chief executive, Chandra Shekhar Ghosh, announced a voluntary exit despite a board nod to continue in the top job. Brokerages Jefferies and Nomura have slashed their target prices for the stock of the Kolkata-based lender that emerged as a full-service bank after decades of … Read more
PN Vasudevan, MD & CEO, Equitas Small Finance Bank, says “NPA has moved up from 2.21% to 2.39% in the third quarter. By and large, NPA is fairly under control and the third quarter typically for us is a seasonally weak quarter from collections because in most of South India, we get the heaviest rains … Read more
