The Mumbai-headquartered bank has posted 9 per cent growth in its total revenue to Rs 1,648 crore. Net interest income (NII) grew 16 per cent year-on-year to Rs 1,064 crore while net interest margin (NIM) was at 4.55 per cent.

Pune (Maharashtra) [India], October 22 (ANI/BusinessWire India): The Board of Directors of Poonawalla Fincorp Limited, a non-deposit taking systemically important NBFC focusing on consumer and MSME finance, today announced its unaudited financial results for the quarter ended Sep 30, 2022.

Srinagar (Jammu and Kashmir) [India], October 22 (ANI): The Jammu and Kashmir Bank on Friday posted a 119 per cent growth in its net profit to Rs 243.49 crore for the quarter ended September 30 against Rs 111.09 crore in the year-ago period.

Mumbai (Maharashtra) [India], July 23 (ANI): Private sector lender Kotak Mahindra Bank on Saturday reported a standalone net profit of Rs 2,071 crore for the first quarter of the current financial year, registering a year-on-year growth of 26 per cent.

New Delhi [India], June 30 (ANI): Reserve Bank of India (RBI) released the 25th issue of the Financial Stability Report (FSR), which reflected the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the financial system.

Mumbai Jan 22 PTI Private sector lender ICICI Bank on Saturday reported a nearly 19 per cent jump in its consolidated profit to Rs 6536 crore for the quarter ended in December 2021 helped by higher net interest income NII and lower provisions The bank had posted a profit after tax of Rs 5498 crore in the year-ago period It was an all-round growth We had an NII growth of 23 per cent and core operating profit also grew by 25 per cent Our provisions declined by 27 per cent the lenders Executive Director Sandeep Batra told reporters here However total income was lower at Rs 3986580 crore in the third quarter this fiscal compared to Rs 4041908 crore in the same quarter a year ago according to a regulatory filing On a standalone basis the profit after tax jumped by 25 per cent to Rs 6194 crore in the third quarter of FY2022 compared to Rs 4940 crore in the same quarter of FY2021 Total income increased to Rs 2706967 crore from Rs 24416 crore in the year-ago period Net interest income NII jumped by 23 per cent year-on-year to Rs 12236 crore compared to Rs 9912 crore Net interest margin NIM stood at 396 per cent compared to 367 per cent in the year-ago quarter Fee income grew by 19 per cent year-on-year to Rs 4291 crore from Rs 3601 crore in the same period of the previous fiscal Treasury income declined to Rs 88 crore during the reporting quarter compared to Rs 766 crore in Q3 FY2021 The treasury income in Q3 FY2021 included a gain of Rs 329 crore from sale of shares of ICICI Securities the lender said in a release Gross non-performing assets GNPA ratio was at 413 per cent in the third quarter as against 438 per cent in the year-ago quarter Net NPA stood at 085 per cent from 063 per cent in the year-ago period Speaking of the impact of the third wave of Covid-19 Batra said As things stand today the third wave may have created local disruptions We do not anticipate at this point of time any significant economic disruptions to the portfolio that we have The lender has a Covid provision of Rs 6425 crore which it did not release during the December quarter he said Provisions excluding provision for tax declined by 27 per cent to Rs 2007 crore from Rs 2742 crore The gross addition to NPAs during the quarter was about Rs 4018 crore compared to around Rs 5500 crore in the September quarter Of that retail was about Rs 3853 crore and corporate and SME was about Rs 165 crore Recoveries and upgrades of NPAs excluding write-offs and sale were Rs 4209 crore The gross NPAs written-off in the quarter were Rs 4088 crore Its restructured book stood at Rs 9684 crore or 12 per cent of total advances as of December 31 2021 The banks total capital adequacy as of December 31 2021 was 1979 per cent Total advances increased by 16 per cent year-on-year to Rs 813992 as of December 31 2021 The domestic advances grew by 18 per cent y-o-y Its retail loan portfolio grew by 19 per cent Total deposits rose by 16 per cent year-on-year to Rs 1017467 crore as of December end Batra said the value of credit card spends in Q3 FY2022 was 22 times the value of credit card spends in the year-ago period Meanwhile the bank on Saturday informed exchanges that Vibha Paul Rishi has been appointed as its Additional Independent Director for a period of five years with effect from January 23 2022 The appointment of Rishi came after Rama Bijapurkar resigned as Independent Director citing conflict of interest Her resignation will be effective from January 23 2022 PTI HV MR MR

Mumbai Dec 28 PTI Indian banks need to bolster their capital positions build adequate buffers and strengthen corporate governance to deal with emerging risks as the economy recovers from the impact of the COVID-19 pandemic a report by the Reserve Bank said Sounding a note of caution the RBI in its annual report on Trend and Progress of Banking in India 2020-21 said that the disruption in economic activity in the wake of the pandemic resulted in corporate and household sector stress and weakening of demand conditions Through concerted efforts the Reserve Bank and the Government managed to contain the risks to financial stability As the economy revives renewed focus may need to be placed on building up of adequate buffers and being vigilant of the evolving risks the RBI said The report said during 2020-21 scheduled commercial banks SCBs reported a discernible improvement in their asset quality capital buffers and profitability notwithstanding the disruptions of the pandemic While credit offtake remained subdued elevated deposit growth on the liabilities side was matched by growth in investments on the assets side Nonetheless incipient stress remains in the form of higher restructured advances Banks would need to bolster their capital positions to absorb potential stress as well as to augment credit flow when policy support is phased out it said It further said most of the regulatory accommodations announced by the RBI including restrictions on dividend payouts by banks deferment of implementation of the last tranche of capital conservation buffer CCB have already expired As the pandemic situation is dynamic the regulatory response will be calibrated in response to the evolving situation the central bank said The report further said with rapid technological advancements in the digital payments landscape and emergence of new entrants across the FinTech ecosystem banks would also be required to prioritise upgrading their IT infrastructure and improving customer services together with strengthening their cybersecurity Banks would need to strengthen their corporate governance practices and risk management strategies to build resilience in an increasingly dynamic and uncertain economic environment the RBI said in its report Although credit offtake by banks remained subdued in an environment of risk aversion and muted demand conditions during 2020-21 a pick up has started in the second quarter of 2021-22 with the economy emerging out of the shadows of the second wave of COVID-19 Going forward revival in bank balance sheets hinges around overall economic growth which is contingent on progress on the pandemic front it said During 2020-21 the consolidated balance sheet of scheduled commercial banks SCBs expanded in size notwithstanding the pandemic and the resultant contraction in economic activity In 2021-22 so far nascent signs of recovery are visible in credit growth Deposits grew by 101 per cent at end-September 2021 as compared with 11 per cent a year ago the report saidSCBs gross non-performing assets GNPA ratio declined from 82 per cent at end-March 2020 to 73 per cent at end-March 2021 and further to 69 per cent at end-September 2021 the report said On recapitalisation requirements after COVID-19 the RBI said that based on the capital position as on September 30 2021 all public and private sector banks maintained the capital conservation buffer CCB well over 25 per cent Going forward however banks would need a higher capital cushion to deal with challenges on account of the ongoing stress experienced by borrowers as well as to meet the economys potential credit requirements it said The apex bank also stressed that concerted strategies for timely capital infusion need to be carried forward by the banks PTI NKD CS MR MR

Mumbai (Maharashtra) [India], Sep 7 (ANI): India Ratings and Research (Ind-Ra) on Tuesday maintained a stable outlook on overall banking sector for the rest of FY22 supported by continuing systemic support that has helped manage the system-wide Covid-19 linked stress.

Mumbai (Maharashtra) [India], August 20 (ANI): India Ratings and Research (Ind-Ra) has said equity infusion as planned is critical for PNB Housing Finance (PNBHF) to provide adequate buffers for growth and mitigate any possible asset-side stress.