Yield on advances declined by 133 bps year-on-year in Q3 as mix shifts in favour of corporate loans
Asset quality needs monitoring as Q3's gross NPA ratio of 4.5 per cent is higher than average
The bank hopes to improve its technology platform in three months
On the BSE, shares of the private lender were trading at Rs 1,453.35 apiece, falling 1.39 per cent over the previous close
SBI Cards and Payment Services reported nearly 52 per cent dip in its net profit to Rs 210 crore in the third quarter ended December 2020
The bank has been directed to transfer Rs 158.68 crore along with 7 per cent interest per annum into an escrow account till the issue of settlement of clients' securities is reconciled, Sebi said
Sebi has imposed a penalty of Rs 1 crore
SIBs are subjected to higher levels of supervision so as to prevent disruption in financial services in the event of any failure.
Former HDFC Bank chief executive Aditya Puri on Tuesday backed the proposal to allow deep-pocketed corporates into banking in India. Puri, the founder chief executive of what has become the largest private sector lender who retired recently, said the country needs more banks to fuel its economic growth ambitions and capital will have to come from somewhere. Late last year, an internal working group of RBI had proposed to re-allow corporates into banking, leading to a huge controversy on concerns over potential conflicts of interest. "Giving (banking licences) to individuals didn't work, public ownership didn't work either. There is no harm trying it," Puri said during an online event. He named Yes Bank, started by two individuals, and also infra lender IL&FS which faced troubles over governance as cases which did not work and underlined the need to try something new. In order to become a USD 5 trillion economy, India needs to have more banks and a corporate with a good set of ...
Asset quality remained healthy with gross non-performing assets falling 27 bps sequentially to 0.81 per cent in Q3FY21
Stock market updates: The S&P BSE Sensex hit an intra-day low of 48,404 today
Metropolis Healthcare said it will acquire Dr Ganesan's Hitech Diagnostic Centre
Provisions and contingencies of the lender increased 12 per cent year on year
HDFC bank is the largest private sector lender in India
On average, the gross non-performing asset (GNPA) ratio is seen between 1.3 per cent and 1.7 per cent for Q3FY21
Among the pack, mighty banks such as HDFC Bank and ICICI Bank are expected to outperform their peers, analysts say.
Between March and December, FPIs purchased an additional 129 million, or 2.67 percentage point stake, in the bank
Nifty Bank index may hit record levels of 33,000 if it surpasses the resistance of 32,300
Analysts at BofA Securities have upgraded Axis Bank, IndusInd Bank, and State Bank of India (SBI) on a "surprisingly" resilient asset quality outlook, and reasonable valuations
In the broader market, the S&P BSE MidCap index ended the day in the green, up 0.4 per cent at 18,749 level.