Govt to initiate PSBs’ consolidation process after Q1 results

The finance ministry is expected to initiate the process of consolidation of public sector banks (PSBs) once the first quarter results of the current fiscal have been announced, a senior official has said. There are various things including financial performance which have to be looked at before a merger decision is taken, said the official… Continue reading Govt to initiate PSBs’ consolidation process after Q1 results

Bank of India swings from loss to profit in Q1, bad loans fall

Bank of India (BOI), the country’s sixth biggest lender by assets, reported a first-quarter profit as its bad loan ratio narrowed and loan-loss provisions fell. Net profit was Rs 87.71 crore in the quarter ended June 30, compared with a loss of Rs 741 crore a year earlier, the Mumbai-based bank said on Wednesday. Analysts… Continue reading Bank of India swings from loss to profit in Q1, bad loans fall

City Union Bank Q1 net up 14% at Rs 140 cr

City Union Bank (CUB) has reported a net profit of Rs 140.32 crore during the quarter ended June 30, 2017, as compared to Rs 123.52 crore, a year ago, an increase of 14%. The bank is planning to seek shareholders approval for a Rs 500-crore Qualified Institutional Placement (QIP). N Kamakodi, managing director and chief… Continue reading City Union Bank Q1 net up 14% at Rs 140 cr

HDFC Bank looks at refinancing to build corporate loan book

At a time when many large banks are putting brakes to growing corporate lending, due to capital constraint and exposure limits, HDFC Bank is aiming to expand its wholesale loan book through refinancing. Term loans constitute about 30 per cent of its corporate banking book, which grew by over 20 per cent to Rs 125,000… Continue reading HDFC Bank looks at refinancing to build corporate loan book

Go electronic to pay credit card bills

Since the beginning of the financial year, banks have been increasing their charges for the services they offer at the branch, especially for cash deposits and withdrawals. Most banks now also charge a fee for payment of credit card bill made in cash at a branch. By thus punishing customers for credit card bill payments… Continue reading Go electronic to pay credit card bills

Black money: Swiss say Indian laws ‘adequate’ for auto-sharing banking info

Bank representatives are to meet here on Monday for a review of the work done on the resolution process under the Insolvency and Bankruptcy Code (IBC). It would be the first such exercise since the Reserve Bank of India (RBI), on June 13, directed action on 12 big-size bad loan cases. The aim is to… Continue reading Black money: Swiss say Indian laws ‘adequate’ for auto-sharing banking info

SBI plans to raise Rs 2,000 crore via Basel-III bonds

India’s largest lender State Bank of India plans to raise Rs 2,000 crore by allotting Basel-III compliant bonds to various investors. “The committee of directors for capital raising accorded its approval today to allot 20,000 AT1 Basel-III compliant non-convertible, perpetual, subordinated bonds in the nature of debentures… Aggregating Rs 2,000 crore to various investors,” State… Continue reading SBI plans to raise Rs 2,000 crore via Basel-III bonds