SBI Q3 results: PAT down 35% at Rs 9,164 crore on one time exceptional item

SBI Q3 results: PAT down 35% at Rs 9,164 crore on one time exceptional item

Leading public sector lender State Bank of India (SBI) reported a standalone net profit of Rs 9,164 crore which was down by over 35% from 14,205.34 crore reported by the state lender in the year ago period. The bank earned Rs 105,733.78 crore in interest income in the reported quarter which was up 22% from … Read more

Karur Vysya net profit up 51% on lower provisions

Karur Vysya net profit up 51% on lower provisions

Kolkata: Private sector lender Karur Vysya Bank on Monday reported a 51% rise in net profit at 378 crore for the July-September period against 250 crore in the corresponding quarter last year, riding on sharply lower provisions in line with asset quality improvement. The bank’s net interest margin stood at 4.07% for the quarter under … Read more

Omkara ARC buys Joyous’ Rs 784-crore PNB Housing loan

Omkara ARC buys Joyous’ Rs 784-crore PNB Housing loan

Mumbai: Omkara ARC has acquired ₹784-crore loan outstanding from PNB Housing Finance of Joyous Housing Limited. The transaction happened at par and helped the mortgage lender in resolving a significant non-performing asset. Omkara ARC bought the account in an all-cash deal, said two people aware of the development. PNB Housing Finance had announced the successful … Read more

Bajaj Finance offers robust update for Q1, draws brokerage upgrades

Bajaj Finance offers robust update for Q1, draws brokerage upgrades

Mumbai: Analysts tracking Bajaj Finance reiterated their bullish outlook after the Pune-based non-bank lender‘s first-quarter business growth update took the Street by surprise, prompting brokerage houses to upgrade their recommendations and raise their respective price targets. Shares of Bajaj Finance rose as high as 8% to post their biggest single-day gain in nearly one year. … Read more

SBI, BoM raise over Rs 7,500 cr via AT1 bonds to fund loan demand

SBI, BoM raise over Rs 7,500 cr via AT1 bonds to fund loan demand

Mumbai: and the Bank of Maharashtra together raised ₹7,582 crore in perpetual bond sales, equipping themselves to meet higher loan demand as recovery gathers steam. While the country’s largest lender raised ₹6,872 crore offering 7.75%, the Pune-based lender raised ₹710 crore offering 8.74%. Bond sales were up for bidding Wednesday. Private banks including , and … Read more

RBI fine-tunes capital norms for non-bank companies

RBI fine-tunes capital norms for non-bank companies

Mumbai: The Reserve Bank of India (RBI) has fine-tuned the capital norms for NBFCs, allowing revaluation of reserves from property to be counted as tier-1 capital instead of tier-2. It also permitted calculation of earnings subject to deductions of dividend based on past years. “Revaluation reserves arising out of change in the carrying amount of … Read more

‘HDFC Bank shares may underperform peers’

‘HDFC Bank shares may underperform peers’

Mumbai: Some brokerages have reduced their target price on shares of HDFC Bank after India’s biggest private lender reported lower-than-expected March quarter earnings. The earnings disappointment and target price cuts led to the stock ending down for the eighth consecutive session. Brokerages said the decline in net interest margins was a disappointing factor. Even as … Read more

HDFC Bank Q3 Results: Profit jumps 18% YoY to Rs 10,342 cr on strong revenues

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NEW DELHI: HDFC Bank on Saturday reported a net profit of Rs 10,342.2 crore in October-December quarter; registering an increase of 18 per cent year-on-year as strong growth in the private lender’s net revenues boosted its bottom line. Net interest income for the quarter under review grew by 13 per cent to Rs 18,443.5 crore, … Read more

Collateral gains: Rally helps lower promoters’ pledges

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The BSE Sensex rallied 23 per cent in the December quarter while the BSE MidCap and SmallCap indices gained 21 per cent and 26 per cent, respectively. Synopsis Out of 650 companies — mostly mid- and small-caps — promoters of at least 60 have released their pledged shares in the December quarter, according to data … Read more