At beleaguered European banks, coronavirus is fast-tracking plans for fundamental restructuring after years of poor performance. Many of the region’s most prominent lenders are tearing up old business models, cutting business lines or doubling down on domestic markets as they try to find a formula that works for them. HSBC Holdings PLC is… Source link
The government did infuse almost Rs 2.7 lakh crore between fiscal 2017-2020 but the pandemic might force the government to infuse more capital to keep public lenders healthy. Public sector lenders need to raise as much as Rs 2.1 lakh crore in external capital over the next two years to tackle the capital shortages that … Read more
FRANKFURT—European Central Bank officials signaled that they could roll out new monetary stimulus in the fall to shore up economic growth, as the region wrestles with rising unemployment and a possible wave of corporate bankruptcies. While ECB officials signaled relief that the 19-nation currency union had avoided an even deeper downturn, they warned of possible … Read more
New Delhi: RBL Bank on Tuesday reported over 47 per cent decline in standalone net profit at Rs 141.22 crore in the first quarter ended June of the current fiscal year due to over two-fold jump in provisioning. The private sector bank had posted a net profit of Rs 267.05 crore in June quarter of … Read more
MUMBAI: Aditya Puri, managing director and chief executive officer of the country’s largest private sector lender HDFC Bank has sold 95% of his stake valued Rs 843 crore in the bank this week. According to insider trading data published by the stock exchanges on Saturday, Aditya Puri has sold 74.2 lakh shares of the bank … Read more
NEW DELHI: YES Bank‘s Rs 15,000 crore follow-on public offer saw 52 per cent subscription by midday of Day 3, the last day of the bidding process. By 11.45 am, the issue had attracted bids for 4,77,19,82,000 shares, 52 per cent of the issue size of 9,09,97,66,899 shares, data compiled from BSE and NSE showed. … Read more
Mumbai: Private lender ICICI Bank said its board has approved plans to raise Rs 15,000 crore through a share sale. The lender said that its board has approved such fundraising in one or more tranches, through means such as private placement, preferential issue, qualified institutions placement, follow-on public offering or a combination thereof. Over the … Read more
MUMBAI: SoftBank group’s SB Energy, the Indian unit for green energy business, is raising up to $600 million in overseas green bonds being launched Wednesday. This is the first ever offshore bond sale by an Indian private company since the pandemic began. Bonds will likely mature in five years, with the company using the proceeds … Read more