Hopes of improvement in asset quality, better credit growth and lower valuations are supporting factors
The two titans of Indian banking also spoke about what it takes to succeed in the highly competitive and byzantine financial services sector
Kumar said banks would look at all requests for restructuring on a case-to-case basis and will act according to whatever is permitted by regulation
Leading bankers welcome term loan installment moratorium announced as economic relief
"Consolidation for the sake of consolidation" is not feasible because demand for financial services exceeds supply in the country, said Aditya Puri
The bad-loan ratio might widen to 1.4% to 2%, which will be close to the highest level since the global financial crisis, Sashidhar Jagdishan said in a conference call with analysts on Friday
All that happened in the markets today
HDFC Bank said it was not aware of any lawsuit and prima facie it looked 'frivolous as we believe we have been transparent in our disclosures'.
Puri expressed satisfaction that he was passing on the baton to Sashidhar Jagdishan, who is the "worthiest person" to lead the bank
Recently, many private sector lenders have raised funds to create a buffer so that they are in a position to absorb any kind of shock emanating from the pandemic
Here are the top headlines of the day
The local unit of Experian Plc told RBI in July that HDFC Bank has been late in providing details of its loans
Delivering steady profit growth in high teens is the hallmark of his stint spanning 26 years
Most brokerages have given a thumbs-up to the development, saying the appointment of an internal candidate will make the transition and subsequent handling of operations at the bank easier
Smooth transition, past experience are positives, say experts
Mr Puri's successor has to match his stellar track record
He joined the Bank in the 1996 and heads finance, human resources, and other departments
Few have matched the HDFC Bank chief's longevity at the crease, within and outside the banking industry; a non-nonsense leader, he had a particular dislike for liars and the incompetent
Apart from navigating the bank through the Covid scare, Jagdishan may also have to deal with new developments in auto loan practice scam, and senior manager exits at the bank
Change is the only constant, and when an "icon" has to make way for a successor, there is normally a turbulence, both within the organisation as well as outside, especially among the stakeholders