Page 12 - Banks

Bank credit growth decelerates to 5.6% in March from 6.4% last year

The central bank further said aggregate deposits growth accelerated to 12.3 per cent in March 2021 from 9.5 per cent a year ago.

Indian Bank posts net profit of Rs 1,709 crore for March quarter

Indian Bank on Friday reported a net profit of Rs 1,708.85 crore in the March-ended quarter. The lender had posted a net loss of Rs 217.74 crore in the same quarter of the preceding financial year 2019-20. Sequentially, the bank had posted a net profit of Rs 514.29 crore in the December quarter of the financial year 2020-21. The bank said figures of March 31, 2020, are related to standalone Indian Bank financing for the pre-amalgamation period, hence not comparable with the post amalgamation financials of December 2020 and March 2021. The erstwhile Allahabad Bank was amalgamated into Indian bank with effect from April 1, 2020. Total income during the January-March quarter of 2020-21 increased to Rs 10,647.87 crore. It was Rs 6,334.37 crore in the same period of 2019-20, Indian Bank said in a regulatory filing. For the full year of the financial year 2020-21, the net profit of the bank was recorded at Rs 3,004.68 crore. In the previous financial year, the bank had a total income o

Canara Bank gets board approval to raise up to Rs 9,000 cr in FY22

Stock of Canara Bank closed at Rs 161.85 apiece on the BSE, up by 5.37 per cent.

God's own patience: Meet Padmakumar Madhavan Nair, MD & CEO of NARCL

His staying power was in evidence during the groundwork for the resolution of the debt owed by Anil Ambani-controlled Reliance Communication which involved over 50 lenders

IDBI Bank board to consider proposal to raise equity capital on May 15

The board of IDBI Bank will consider the proposal to raise equity capital through various modes in its meeting on May 15

J&K Bank defers board meet on proposed Rs 500 cr-capital infusion from govt

Jammu & Kashmir Bank (J&K Bank) has postponed its board meeting to discuss the proposal of Rs 500 crore capital infusion from the state government. The meeting of the board of directors of the bank scheduled for Wednesday, May 12, 2021 to consider/discuss the proposal of capital infusion by the government of Jammu & Kashmir to the tune of Rs 500 crore in the bank stands postponed, the bank said in a regulatory filing. The bank has not given the reason behind the postponement. The new date for the said meeting shall be communicated separately, it added. Stock of J&K Bank traded at Rs 26.10 apiece on BSE, up 2.76 per cent from previous close.

Jose Kattoor named RBI Executive Director with effect from May 4

In charge of Human Resource Mgt Dept, Corporate Strategy and Budget Dept and Rajbhasha

National Asset Reconstruction Company to be operational next month: IBA CEO

National Asset Reconstruction Company Ltd (NARCL), the name coined for the bad bank announced in the Budget 2021-22, is expected to be operational in June

Banks want RBI to relax NPA norms for lockdown-stressed MSME sector

Bankers request extension of NPA classification norms to 180 days from 90 days currently

Banks using unseen digital cash could bring down fees on foreign transfers

Blockchain technology used between banks to settle claims could significantly lower the cut taken from customers

De-risking the Risk Business webinar series - IFRS 17: From Compliance to Business Transformation

SBI, Equitas SFB: How to trade bank stocks post latest RBI announcements

The RBI has announced a few steps to encourage small finance banks (SFBs) to increase the credit flow to small borrowers

Project Future-Ready: HDFC Bank rehauls organisation set-up, top-deck roles

The bank is reorganising itself into three clear areas of business verticals, delivery channels and technology/digital to further build its execution muscle

SBI business activity index falls below pre-Covid level as lockdowns return

Pandemic second wave might reach its peak "around 20 days from now, says lender's report

Restructuring Deutsche Bank shows strongest quarter in seven years

The bank's long-running restructuring showed in lower costs

Bajaj Fin, Axis Bank, Maruti Suzuki: Strategies for stocks post Q4 results

Upon crossing the immediate resistance, Axis Bank's stock may see a rally towards Rs 750 and Rs 765-mark

Banks with assets of more than Rs 15,000 crore must hire two auditors

Any bank with a balance sheet of less than Rs 15,000 crore can have one statutory auditor. However, in all cases, concurrent auditors cannot be appointed as statutory auditors

RBI issues guidelines for appointment of statutory auditors of banks, NBFCs

The Reserve Bank of India on Tuesday issued guidelines for appointment of statutory auditors of banks and non-banking finance companies (NBFCs), including housing finance companies

Covid: Bank branches to reduce business hours, offer basic services

In the wake of surge in coronavirus cases across the country, Indian Banks' Association mandates 50% attendance for banks, business hours to be reduced to 10 am-2 pm

DBS to buy 13% stake in privately-held Chinese lender for $814 million

DBS is Southeast Asia's largest bank