Banking and finance stocks have earned stellar returns over the past few years, thereby attracting retail investors. The sector index BSE Bankex has gained over three times since April 1, 2020, the year of pandemic, closely tracking similar gains in the benchmark Sensex. Given the importance of the lending sector not only in the stock … Read more
Bandhan Bank on Friday reported 47% growth in its consolidated net profit at Rs 1,063 crore in the first quarter, compared with Rs 721 crore in the last year period. The lender’s net interest income (NII) for the reporting quarter rose 21% year-on-year to Rs 3,005 crore as against Rs 2,491 crore in the same … Read more
Vivek Kumar Dewangan, CMD, REC, says he would like to make a distinction between non-banking finance companies like REC which have been following the IndAS norms. As per RBI’s income recognition and asset classification norms, this additional provisioning on account of under construction projects is not to be routed through profit and loss account. In … Read more
State-owned Bank of Maharashtra (BoM) on Friday reported a 45 per cent jump in its net profit to Rs 1,218 crore for the March quarter, helped by a decline in bad loans and a rise in interest income. The Pune-based lender had earned a net profit of Rs 840 crore in the year-ago period. During … Read more
