Page 2 - Public Sector Bank

IDRCL: Stakes of Canara Bank, SBI, PNB and Union Bank reduced to 5% each

The reduction of stake is on account of issuance of fresh shares on preferential basis to the existing shareholders

Bank of Maharashtra emerges leader among PSBs in deposit mobilisation in Q3

Bank of Maharashtra (BoM) has become top performer among public sector banks (PSBs) in terms of growth in deposit mobilisation in the third quarter ended in December 2021, according to an analysis. The Pune-headquartered lender recorded a 15.21 per cent increase in total deposits at Rs 1,86,614 crore in the October-December period of 2021-22, according to the data published by the bank. An analysis of data disclosed by various lenders for the third quarter showed that BoM was followed by Punjab & Sind Bank which posted a 10.87 per cent growth in total advances with aggregate loans at Rs 1,00,351 crore. When it came to savings deposit mobilisation, BoM recorded an 18.33 per cent growth at Rs 80,815 crore. It was followed by Bank of Baroda that reported a 12.36 per cent rise at Rs 3,22,909 crore and State Bank of India. SBI posted an increase of 10.30 per cent. However, in absolute terms, SBI's savings deposit base was 18 times higher at Rs 14,73,506 crore as against BoM's Rs 80,815

Wilful defaults Rs 62,000 crore higher than before Covid pandemic

Public sector banks accounted for 77.4 per cent of the total amount outstanding at Rs 5.3 trillion as of June

FM to meet heads of PSBs; nudge them for credit expansion to boost economy

The two-day meeting would commence on November 17 and undertake a comprehensive review of various segments

SBI to raise up to Rs 14,000 cr via AT1 bonds to boost capital adequacy

Being a systemically important financial institution, the bank has to maintain a higher level of CAR than its peers

Q4 results preview: Quick economic recovery to aid banks' profits

On the profitability front, the brokerage pegs operating profit growth at 15 per cent YoY with 12 per cent YoY for private and 19 per cent for PSBs

The forgotten case for bank nationalisation

In the recent clamour for their re-privatisation, we seem to have forgotten the rationale for bank nationalisation and the crucial role public sector banks continue to play in war against poverty

State Bank of India shares continue to gain on improved asset quality

Shares of State Bank of India continued to rally on Friday, jumping over 11 per cent

On the chessboard: 2021 will see tectonic shifts in the banking industry

India Inc could make a re-entry into commercial banking - 40 years after the last round of bank nationalisation in 1980

Bank Employees' Association wants LVB to be merged with a PSU bank

RBI's role should be thoroughly probed, says AIBEA

FinMin directs govt-owned banks to invoke personal guarantees of defaulters

SBI takes lead in preparing list of all defaulters, including large corporations, whose firms are under bankruptcy proceedings

BOB posts pre-tax loss of Rs 1,308 cr in Q1 on a rise in provisioning

The bank's net interest income (NII) grew 4.91 per cent on a year on year (YoY) basis from Rs 6,497 crore in Q1FY20 to Rs 6,816 crore in Q1FY21

Bank employees' 15% wage hike may not be a costly affair for lenders

The hike in pay slip cost does not factor in superannuation and pension costs, along with performance linked incentives

South Indian Bank posts Q4 loss of Rs 190 cr, income grows to Rs 2,342 cr

The bank made a one time provisioning of Rs 255 crore on some large value non performing assets (NPA) it sold to an asset reconstruction company in 2017

Covid-19: Cut costs, govt tells PSBs after PNB buys Audis for top bosses

The Centre has advised banks to make a 20 per cent reduction in expenditure related to non-core business activities

RBI assumes protective role, asks banks not to pay dividend for FY20

Experts say while the decision is positive, it may not make any significant contribution

Letter to BS: Healthy banks are a barometer of a healthy economy

It is time there are reforms to ensure autonomy to the banks with proper checks and balances so that they play their assigned roles effectively and professionally.

SBI stock basking in optimism; stakes too high to disappoint investors

Optimism on the stock is highest in 15 years; easing of corporate sector stress in Q3 gave the much-needed comfort

Finance Ministry asks central, state depts to continue work with IDBI Bank

It can be noted that in January 2019, the insurance behemoth completed acquisition 51 percent stake in IDBI Bank, following which the Reserve Bank re-categorised it as a private sector bank.

Financial sector needs to rebuild trust, says YES Bank CEO Ravneet Gill

Edited excerpts from a discussion at the Business Standard Banking Round Table held in Mumbai