Private Sector Banks

The sustenance of gold business as a proportion of book coupled with gradual improvement in non-gold segment to bring diversification and steady RoA are key triggers for future price performance.

The finance ministry on Tuesday held a meeting with private sector lenders to review progress made by them under the flagship financial inclusion and social security schemes. "Dr. Vivek Joshi, Secretary DFS chaired a meeting today with the representatives of Private Sector Banks, Small Finance Banks and Payment Banks to review the progress made by them under various Financial Inclusion initiatives (PMJDY, PMJJBY, PMSBY, APY, PM SVANidhi, etc.)," Department of Financial Services said in a tweet. Last week, Joshi met heads of public sector banks and urged them to achieve targets under various schemes for current financial year. During the meeting, progress of various social security (Jan Suraksha) schemes, including Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Pradhan Mantri MUDRA and Prime Minister Street Vendor's AtmaNirbhar Nidhi (PMSVANidhi), and Agri credit etc, we

Strong growth in net interest income boosts bottomline, provisions fall

The country's largest private sector lender HDFC Bank on Saturday reported an 18.5 per cent increase in its standalone net profit at Rs 12,259.5 crore for the third quarter ended December 2022. The bank had earned a net profit of Rs 10,342.2 crore in the corresponding quarter of the previous fiscal year. Total income on a standalone basis rose to Rs 51,207.61 crore in the October-December quarter of FY23, as against Rs 40,651.60 crore in the same period of the previous financial year, HDFC Bank said in a regulatory filing. On the asset quality side, bank's gross non-performing assets (NPAs) remained flat at 1.23 per cent of gross advances as of December 30, 2022. Net NPAs too was flat at 0.33 per cent as compared to 0.37 per cent at the end of December 2021. Provisions and contingencies for the quarter ended December 31, 2022 were Rs 2,806.4 crore as against Rs 2,994 crore for the year-ago quarter, it said. Net interest income (interest earned less interest expended) for the quar

Bankers say private lenders have more risk appetite, faster response times, and are aggressive on pricing

The banking sector was a standout performer in 2022 with the Nifty PSU Bank rallying almost 70 per cent

In March 2022, Axis Bank said it would purchase Citi's retail business in a transaction worth Rs 12,235 crore

Is it time to shift to private bank stocks?

The rally in public sector banks, after their impressive September quarter performance, may soon fizzle out. Should investors turn to their private peers for better returns?

Rating agency warns capital base of PSBs may come under greater strain

Longer terms for PSB chiefs address the talent gap partly

Federal Bank on Friday said it has tied up with JCB India to finance the prospective buyers of heavy construction equipment and boost its loan portfolio. The private sector lender said it has inked a memorandum of understanding (MOU) with JCB India, a leading manufacturer of earthmoving and construction equipment. This arrangement will boost the financing options for JCB's customers in India, Federal Bank said in a release. Under the arrangement, Federal Bank is the preferred finance partner of the construction equipment manufacturer, where JCB's customers can avail loans from the lender at competitive interest rates. With the government's focus on infrastructure development continuing to remain strong, there will be various opportunities to create synergies between the teams from JCB India and Federal Bank, Deepak Shetty, CEO and Managing Director of JCB India, said. "Importantly, it will give greater financing options to our customers while purchasing JCB machines both in urban

Concerned over deposit growth lagging high credit offtake; seeks views on collection, IT infra, DBUs

Like to discuss issues related to growth, interest rates

The fight among Hinduja brothers was caused because of a pact signed by them in 2014 that said that 'everything belongs to everyone and nothing belongs to anyone'

While you may begin allocating to them, keep some powder dry as rates could rise further

Analysts see up to 31 per cent and 17.6 per cent upside in SBI and BoB's stock, respectively, from a one-year perspective

Private sector HDFC Bank on Tuesday said it has registered a 23.5 per cent rise in loans to Rs 14.80 lakh crore in the second quarter of this fiscal. The credit book was Rs 11.98 lakh crore as of September 30 last year. Gross of transfers through inter-bank participation certificates and bills rediscounted, the bank's advances grew by around 25.8 per cent over September 30, 2021, HDFC Bank said in a regulatory filing. The bank's deposits aggregated to approximately Rs 16.73 lakh crore as of September 30, 2022, nearly 19 per cent higher from Rs 14.06 crore as of September 30, 2021, it added. During the quarter ended September 30, 2022, the bank purchased loans aggregating Rs 9,145 crore through the direct assignment route under the home loan arrangement with parent firm Housing Development Finance Corporation Limited. Earlier in April, India's largest private lender HDFC Bank agreed to take over the biggest domestic mortgage lender in a deal valued at about USD 40 billion, creating

Along with HDFC Bank, several Indian banks have a higher m-cap than the crisis-struck Swiss bank, including ICICI Bank, SBI, Kotak Mahindra Bank, Axis Bank and IndusInd Bank

RBI advised private sector lender to submit a fresh proposal of another Independent Director for the post of Chairman

Ajay Argal of Franklin Templeton believes that any change in stance to lower the pace or the quantum of rate hikes could provide an interim positive trigger for the markets.