Page 2 - Nbfcs

Our becoming bank rests on regulatory intent for NBFCs: Piramal Finance MD

In a Q&A, Jairam Sridharan dwells on his company's proposed retail thrust and the challenges facing the NBFC sector

Bajaj Finance's long range strategy lifts stock 5% higher

The consumer financier reported its highest-ever quarterly profit at Rs 2,973 crore in Q3FY23, up 40% YoY, aided by a healthy rise in NII and drop in provisions and contingencies

Alive and kicking: What common thread links the new-age NBFCs?

Using their imagination,new-age shadow banks have shown that their business model can fly

TVS Credit posts 75% rise in Q3; net profit rises to Rs 97.97 crore

The company's total income for the quarter under review was also up by 51 per cent to Rs 1,094.13 crore, as against Rs 723.6 crore during the third quarter of the previous financial year

TVS Credit Services Ltd Q3 net profit at Rs 97.97 cr, total income jumps

Non-banking finance company TVS Credit Services Ltd has reported a net profit at Rs 97.97 crore for October-December 2022, the company said on Wednesday. The city-based company, a part of the diversified conglomerate TVS Group, reported the net profit at Rs 55.88 crore during corresponding quarter last year. The net profit for the nine-month period ending December 31, 2022 was at Rs 278 crore as against Rs 58 crore registered in the same period last year. Total income during the quarter went up to Rs 1,094.13 crore from Rs 723.60 crore recorded in corresponding period last year. The assets under management stood at Rs 19,541 crore as of December 31, 2022. "In Q3 FY '23, our business has witnessed a growth in loan disbursements owing to strong momentum across products. This fiscal we have added over two million customers till date, bringing our total customer base to nearly 10 million," said CEO of the company Ashish Sapra. "We will continue to provide enhanced customer experience

Credit Saison India receives Rs 540-crore capital infusion from parent firm

Digital non-banking finance company Credit Saison India has received Rs 540 crore in fresh capital from its Japanese parent Credit Saison Company, taking the total equity infusion to Rs 1,600 crore. The Bengaluru-based digital lender said the latest capital infusion came from Saison International, the global business division of the parent, in two tranches. Credit Saison India has disbursed over a million loans since inception in 2019 to consumers, SMEs, fintechs and other NBFCs, and has an asset under management (AUM) of Rs 5,000 crore. It targets to take the AUM to over Rs 8,000 crore over the next next 12 months. When it comes to funding, the NBFC is backed by State Bank of India, Axis Bank, Bank of Baroda, Punjab National Bank, Canara Bank, Mizuho, Sumitomo Mitsui Banking Corporation and MUFG Bank among others, said Presha Paragash, chief executive of the company. "We want to enable growth of accessible credit in India and we believe the USD 1 billion AUM target is only a stepp

L&T Finance to increase retail loan portfolio to 75% of total loan book

In the September quarter, the company's retail book for the first time crossed Rs 50,000-crore milestone

10 NBFCs, 1 asset reconstruction firm defer registration certificates: RBI

The Reserve Bank of India on Wednesday said 10 NBFCs and one asset reconstruction company have surrendered their registration certificates

Day after lower AUM number, Bajaj Finance shares tumble 8%

Bajaj Finance acquired 3.1 million new customers (v/s 2.6 million acquired in Q2FY23). The new customer acquisition run-rate was healthy in Q3FY23.

Mahindra Finance gains 3% as RBI lifts ban on outsourcing loan recovery

On September 22, 2022, the RBI had directed company to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders.

Bajaj Finance loan booking up 5.5% in Q3FY23, hits lifetime high of 7.8 mn

The company also recorded its highest ever quarterly increase in customer franchises at 3.1 million

Odisha-based Annapurna Finance applies for universal bank license

Established in 2009, the MFI has been promoted by People's Forum, a society registered in Odisha, which comes under the RBI's NBFC-MFI category

Surge in credit to NBFCs takes service sector loans past those to industry

RBI data shows that as of November 18, outstanding loans to the services sector amounted to Rs 33.15 trillion while those to industry stood at Rs 32.94 trillion

Power Finance Corporation surges 5% on heavy volumes; hits over 5-year high

In past six months, the stock has zoomed 51 per cent, as against 8 per cent gain in the S&P BSE Sensex.

After two challenging years, good prospects for housing finance NBFCs

In the near-term though, maintaining NIMs in a rising interest rate environment will be a delicate balance given its potential impact on volumes

Care Ratings upgrades Hinduja Leyland Finance's long-term debt to AA

HLF is undergoing a reverse merger, which will help it get listed soon. The company also mobilised Rs 910 crore fresh capital from QIBs in October 2022, and improved its capital adequacy

Religare Finvest signs settlement agreement with all its lenders for OTS

Debt-ridden Religare Finvest Ltd (RFL) on Friday said it has signed a settlement agreement with all its lenders for a one-time settlement, clearing the deck for the NBFC to exit from the Corrective Action Plan imposed by the RBI. Religare Enterprises, the parent company of RFL, has entered into an agreement in connection with the OTS with all 16 secured lenders for full and final settlement with respect to all their outstanding dues, a regulatory filing said. RFL has been under a Corrective Action Plan (CAP) since January 2018 due to its weak financial health. RFL, an NBFC arm of Religare Enterprises Ltd, owed about Rs 5,300 crore to the consortium of lenders led by the State Bank of India (SBI). Other lenders include the Bank of Baroda, Union Bank of India, Canara Bank, Punjab National Bank, Bank of India, IDBI Bank, Punjab & Sind Bank, and Bank of Maharashtra. The regulatory filing said RFL would ensure compliance with the terms and conditions of the said OTS (one-time ...

Nine NBFCs may fall below minimum capital requirement in baseline scenario

The baseline scenario is projected for one year ahead, based on assumptions of business continuing under usual conditions

Stocks to Watch: KFin Tech, SBI, Airtel, RIL, Sheela Foam, McLeod Russel

Stocks to Watch: KFin Technologies to debut on the bourses today. The stock is likely to list on a tepid note.

Prospects remain healthy for NBFCs, bank credit shows a strong trend

Topline growth should outweigh any pressure on margins