V Vaidyanathan, MD & CEO, IDFC First Bank, says the bank has launched several business lines, including cash and wealth management, which are vital for the bank’s future growth. These investments will generate returns. As they aim for profit, he expects the cost-to-income ratio to improve over the next four to five years. Currently, IDFC … Read more
Stating that financials as a sector and banks specifically offer better risk reward opportunity, Chandraprakash Padiyar, Senior Fund Manager, Tata Asset Management, says given the positive regulatory environment for banks in terms of early warning, asset quality will remain strong over cycle enabling higher growth in credit and ROE, leading to better valuations. “We see … Read more
Rishi Anand, MD & CEO, Aadhar Housing Finance, says the timing of the election, as their bankers have suggested, does not matter too much. So, they have gone ahead with the listing. In the entire context of getting Sebi approval for IPO in 2022 and not going ahead with it and then coming back with … Read more
Mumbai: Bandhan Bank fell more than 6% Monday after founder and chief executive, Chandra Shekhar Ghosh, announced a voluntary exit despite a board nod to continue in the top job. Brokerages Jefferies and Nomura have slashed their target prices for the stock of the Kolkata-based lender that emerged as a full-service bank after decades of … Read more
“I think this is a big shift away from the last decade story where the underwriting differentiation was all that mattered so banks won or lost depending on how good their asset quality was, but now it comes back to deposits,” says Pranav Gundlapalle, Sanford C Bernstein. I just wanted to understand what your outlook … Read more
Kolkata: Muthoot Microfin, a part of the Muthoot Pappachan group, said that its net profit for the fourth quarter nearly doubled at Rs 102 crore, backed by robust business growth. Total income was at Rs 448 crore as compared with Rs 249 crore. Profit for the full year was Rs 203 crore against Rs 80 … Read more
on Saturday reported a 20 per cent on year growth in net profit for the September quarter to Rs. 10,606 crores. Net interest income grew by nearly 19 per cent on year to Rs. 21,021 crores. Both net profit and net interest income were slightly lower than analysts’ estimates. Bank’s core net interest margin for … Read more
Mumbai: The third Covid-19 wave poses a risk to the asset quality of banks, as many restructured loans would be out of their moratorium period from the fourth quarter of the ongoing fiscal year, according to rating firm . The increased spread of the Omicron variant is likely to result in a surge in infections. … Read more
NEW DELHI: ‘s September quarter numbers beat Street estimates on all key metrics. Asset quality for the bank improved and fresh provisions also fell. Net interest margin (NIM) improved to 4 per cent while disbursements of personal loans and auto loans were close to March quarter levels. Besides, SME loans soared 44 per cent on … Read more
MUMBAI: reported a blockbuster set of earnings for the quarter ended March with both the botttomline and topline handsomely beating analysts’ expectations. The state-owned bank’s earnings were boosted by the resolution of a large corporate loan account after made payment for the acquisition of Bhushan Power & Steel during the quarter. The lender’s net profit … Read more