Page 55 - Banking Sector

PNB net profit plunges to Rs 308 cr in June qtr, income at Rs 24,292.8 cr

Total income rose to Rs 24,292.80 crore during the June quarter of 2020-21, as against Rs 15,161.74 crore in the same period of the previous fiscal

Govt keen to speed up stake sale in four PSU banks this fiscal: Report

Govt wants to overhaul the banking sector and is also pushing for privatisation of banks and other PSUs to help raise funds for budgeted spending amid a fall in tax collections

We must 'Make for the world' as we 'Make in India': PM Modi in I-Day speech

PM Modi said that India was making enormous efforts to stand on its own feet and linked several initiatives taken recently for this effort

Covid-19 impact: Bank credit growth moderates further to 5.5% by July-end

Bankers said business conditions have been improving, but only incrementally. However, demand remains weak (for credit) and many people are repaying loans, some of of which are under moratorium

Covid-19 impact: HSBC warns loan losses could hit $13 bn as profit dips 65%

The bank reported a pre-tax profit of $4.32 billion for the first six months this year, lower than the $5.67 billion average of analysts' forecasts

Covid provisioning knocks off 27% of private banks' profit in Q1

While the banks are additionally providing towards the pandemic, analysts believe credit cost to remain elevated

YES Bank's PBT falls to Rs 60 crore in June quarter, NII dips 16.3%

The bank's net profit for quarter under review stood at Rs 45.44 crore as against a net profit of Rs 113.76 crore in Q1FY20. It had booked a net loss of Rs 3,668.3 crore in Q4FY20

IndusInd Bank Q1 net profit falls 68% to Rs 461 cr on higher provisioning

The net NPAs, however, showed improvement as it fell to 0.86 per cent of the net advances by the end of first quarter FY21

IDBI Bank posts Q1 PBT of Rs 438 cr against Rs 5,381 cr loss a year ago

Rise in net interest income, dip in provisioning drive better numbers; net profit at Rs 144 cr in Q1FY21, versus Rs 3,800 cr loss same quarter last year

Capital crunch

Structural problems in banking system would affect recovery

Banks need to be recapitalised as moratorium ends on Aug 31: SBI report

Banks have to improve governance and sharpen their risk management skills, says research report.

HDFC Bank net profit up 20% in April-June, provisions increase by 49%

The bank's net revenue grows 8% from Rs 18,264.5 in the same quarter last year to Rs 19,740.7 crore

Investors should not be gung-ho about banks' Q1 headline numbers: Analysts

While Q1 updates of HDFC Bank, IndusInd Bank and Federal Bank show up to 21% loan growth, extension of moratorium, postponement of March disbursements will influence reported numbers

Indian banks may face asset quality, earning pressure for 2 years: Fitch

Indian banks are likely to require at least $15 billion in fresh capital to meet a 10 per cent weighted-average common equity tier-1 ratio under a moderate stress scenario

S&P downgrades Axis Bank's issuer rating over risks to Indian banking

Affirming the ratings on 7 other Indian banks, the rating agency said that it expected a very high likelihood of government support underpinning its ratings on government-owned banks

Bank credit growth in FY21 to hit multi-decade low of 0-1%: CRISIL

Prior to the disruption caused by covid-19, bank credit was already slower than normal in FY20 due to subdued economic activity and risk averseness of the lenders

Federal Bank's Q4 PBT declines 32% over provisions for Covid-19 pandemic

The bank's provision coverage ratio improved to 72.48 per cent at end of March 2020, up from 67.16 per cent in March 2019

Liquidity, labour and logistics are the key challenges: JSW Steel's Rao

Ensuring return of labour as important as sending them back home, says Seshagiri Rao

Covid-19 impact on sectors: A two-quarter wait before growth picks up

The first of a three-part series highlights the issues faced by the auto, financial services, retail, and metals sectors

Covid-19 crisis: Warren Buffett cuts crisis-era bet on Goldman Sachs

Berkshire Hathaway sold 84 per cent of its Goldman Sachs stock in the first quarter, marking a reversal for an investor who generally holds large stakes in the banking sector.