Private Sector Banks

There won't be instant gratification for investors but the move will catapult the bank into the big league

In the previous quarter, it had earned net profit worth Rs 859 crore

Retail advances declined 8% year-on-year but grew 1% sequentially

The rating agency said it understands that the five recipient PSBs may need to value zero-interest bonds at fair value instead of par value

Its net interest income grew by 36% on a YoY basis to reach Rs 2,580 cr in Q3FY22

Call options for instruments raised last year and worth Rs 28,430 crore are due in the next financial year.

Private sector lender Karur Vysya Bank Thursday said it will slash its base rate and benchmark prime lending rate to 7.75 per cent and 12.75 per cent, respectively, with effect from December 15, 2021.

Helped by lower provisions and contingencies, which fell 26%; asset quality was broadly stable with 1% rise in GNPAs

Rise in stressed assets may not push bills for provisions as lenders maintain higher provision coverage ratio for few quarters

PNB's equity stake of 12.06 per cent will be reduced to 9 per cent by December 2021

It is up 15% since the start of CY21 against 19% in Nifty50; this despite banks' record Q1 profit

Jagdishan took over from his larger-than-life mentor Aditya Puri

Will come back with a bang once RBI lifts freeze, says bank

Analysts attribute the margin expansion to the wedge between RBI's repo rate and the lending rate in the market

Till March, banks could hold on but not all of them will be in a position to stomach the impact of the second wave of the pandemic

A broad improvement in the sector's asset quality and India's plans to transfer soured loans to a proposed bad bank boosts their growth outlook

Yes Bank's rescue act in early March 2020 happened in the nick of time ahead of the Covid-19 pandemic, and even a 15-day delay in it would have meant great difficulty for a lender, said the CEO

Since 2014, public sector banks' branch network in rural and semi urban has grown by a mere 4,000 - from 49,859 in 2014 to 53,467 while for private sector banks, it doubled from 9,673 to 18,437

Deck clears for government's stake sale; improvement in lender's finances key to invoke investor interest

The finance ministry has now made it clear that there is now no bar on the RBI's authorisation of private-sector banks to offer government business