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
The Reserve Bank of India’s income rose 15 percent last fiscal on higher interest income from bond holdings, but it was the sharp drop in provisions transferred to the Contingency Fund that helped it pay a record Rs. 2.1 lakh crore in dividend to the central government. An amount of ₹42,819.91 crore was provided towards … Read more
On a sequential basis, HDFC Bank, ICICI Bank, and Axis Bank reported a faster growth in deposits for the March quarter compared with the credit growth while IndusInd Bank and Yes Bank showed marginally lower growth in deposits than advances. Synopsis While these lenders were able to increase deposits at a faster clip during the … Read more
Leading public sector lender State Bank of India (SBI) reported a standalone net profit of Rs 9,164 crore which was down by over 35% from 14,205.34 crore reported by the state lender in the year ago period. The bank earned Rs 105,733.78 crore in interest income in the reported quarter which was up 22% from … Read more
