Page 32 - Banks

Dutch bank ABN Amro to shed almost 3,000 jobs in pull back from abroad

Its shares, which have lost almost half their value since the COVID-19 pandemic, fell almost 5% in early trading, after the bank delivered a cautious outlook for the years to 2024

Fintech company BharatPe aims to become a bank for small merchants

The firm, which provides technology and digital lending for offline businesses including kiranas, has witnessed $2-billion annualised business transactions for its POS segment in just three months

Why few NBFCs want to become banks despite RBI's new recommendations

Cost of doing business, regulatory arbitrage, customer profile key parameters

Good performance masks problem assets for Indian banks, says S&P

Tough for banks to keep NPA levels low in future

Banks union threatens strike against RBI Internal Working Group proposals

Says depositors lose their savings, wonders whether it is prudent to allow both the lender and the borrower to be owned by the same set of people

Equitas, Ujjivan: How to trade financials post RBI's ownership guidelines

Bajaj Finserv has surged over 50 per cent in less than 15 sessions.

On a new voyage: Why banks are scaling down their global ambitions

The heady days of setting up shop abroad by banks are over, and a nuanced and tech-based approach will be the way ahead, report Abhijit Lele and Raghu Mohan

It's not museums that continued collecting art during Covid-19 but banks

As pandemic-related shutdowns have entered their ninth month, banks have continued to collect, lend, and exhibit art. By comparison, 1 in 3 American museums never reopened after shutting down in March

Punjab & Sind Bank's board to consider plan for raising up to Rs 5,500 cr

State-owned Punjab & Sind Bank on Wednesday said the board of bank will meet later this week to consider raising up to Rs 5,500 crore by issuing shares on a preferential basis. "A meeting of board of directors of Punjab & Sind Bank is scheduled to be held on Saturday, November 21, 2020, for considering to offer, issue, create and allot equity shares up to Rs 5,500 crore (including preferential issue of equity shares)," the bank said in a regulatory filing. Shares of Punjab & Sind Bank on Wednesday closed 0.88 per cent up at Rs 11.40 apiece on the BSE.

Punjab & Sind Bank narrows net loss at Rs 401 cr in September quarter

Punjab & Sind Bank on Thursday reported narrowing of its net loss at Rs 401.27 crore in the second quarter ended September 2020. The state-owned lender had posted a net loss of Rs 468.73 crore in the same period a year ago. The loss, however, widened sequentially from Rs 116.89 crore in the June quarter of FY2020-21. Total income of the bank fell to Rs 1,999.19 crore in July-September of 2020-21 from Rs 2,222.57 crore in the same period of 2019-20, Punjab & Sind Bank said in a regulatory filing. Bank's provisioning for bad loans and contingencies were down at Rs 863.82 crore for Q2FY21 from Rs 972.62 crore in Q2FY20. Of this, bad loans or NPAs provisioning were Rs 845 crore, as against Rs 949.36 crore a year earlier. Asset quality impaired with gross non-performing assets (NPAs) rising to 14.06 per cent by end of September 2020 from 13.64 per cent at end of September 2019. Value wise, the gross NPAs stood at Rs 8,673.16 crore, lower than Rs 9,218.22 crore. Net NPAs, however, .

Play markets for medium-term, diversify across asset classes: Amit Khurana

IT Services has been the biggest beneficiary of Covid-19 pandemic and is now a mainstream growth driver rather than a one-off line item

SWIFT is a unique platform, says CEO Kiran Shetty

The platform enables financial institutions to send and receive information about financial transactions in a secure environment

Blaming clean-up efforts of Rajan, Patel for slowdown a 'tragedy': Acharya

Acharya said there are analysts who blame the efforts undertaken by RBI under Rajan and Patel for the current slowdown

Time for a fresh look: The bank branch is undergoing a sea change

Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan

Covid-19 impact: As debt piles up, transporters surrender or sell trucks

IFTRT says 30,000 trucks have either been impounded or surrendered

RBI announces co-lending scheme for banks, NBFCs for priority sector

Under the Co-Lending Model, banks will be permitted to co-lend with all registered NBFCs (including HFCs) based on a prior agreement, RBI said

Banks' compliance limit with new norms for existing current a/cs extended

Current accounts are widely used by businesses for their daily activities

Amtek Auto's lenders invoke personal guarantee of former promoter

The issue of personal guarantee of a corporate debtor under Insolvency and Bankruptcy Code has been challenged in various high courts

Credit growth to industry nil in Sept, banks pick services sector for loans

Personal loans grew 9.2 per cent year on year in September: compared to 16.6 per cent in September 2019

Kotak Mahindra Bank's consolidated PAT up 22% in Q2 to Rs 2,947 cr

Net interest income up 16.8% YoY to Rs 3,913 crore in the reporting quarter, net interest margin 4.52%