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
Public sector lender Punjab National Bank (PNB) on Saturday reported a 159% year-on-year (YoY) jump in its net profit for the quarter ended June 30, 2024, while the bank’s net interest income (NII) rose to Rs 10,476 crore, up by 10% YoY. The net profit for the period stood at Rs 3,252 crore versus a … Read more
US-based Avenue Capital-backed Asset Reconstruction Company (India) (ARCIL) has bought nearly ₹400 crore worth of bad loans or non-performing assets (NPAs) of Saraswat Bank with a haircut of nearly 86%. Saraswat Bank, one of the largest cooperative banks in the country, sold the NPA portfolio comprising retail and micro, small and medium enterprises (MSME) loans … Read more
