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Net Non-Performing Assets (NNPAs) of scheduled commercial banks (SCB) saw a sharp decline, reducing by 24.9 per cent y-o-y to Rs 1 lakh crore as of June 30, 2024, according to <keyword id="19974164" type="General" weightage="20" keywordseo="CareEdge-Ratings" source="keywords">CareEdge Ratings</keyword>. The gross non-performing assets (GNPAs) of scheduled commercial banks (<keyword id="19936361" type="General" weightage="20" keywordseo="SCBs" source="keywords">SCBs</keyword>) fell by 15.2 per cent year-on-year (y-o-y) to Rs 4.57 lakh crore as of Q1FY25, compared to Rs 5.66 lakh crore in the same period last year. The GNPA ratio now stands at 2.8 per cent, a reduction from 3.8 per cent a year ago. This drop is primarily due to lower slippages, higher recoveries, and steady write-offs over the last year. The Indian banking sector has continued its positive trajectory with reductions in both gross and net non-performing assets NPAs for SCBs as of June 30, 2024. The <keyword id="23322416" type="General" weightage="20" keywordseo="NNPA-ratio" source="keywords">NNPA ratio</keyword> has reached an all-time low of 0.6 per cent, down from 1.0 per cent in Q1FY24. Despite this, the decline in NNPAs within SCBs varied, as <keyword id="19974357" type="General" weightage="20" keywordseo="private-banks" source="keywords">private banks</keyword> (PVBs) witnessed a marginal increase of 3 basis points (bps) in their NNPA ratio, driven by seasonal collection weaknesses and higher retail delinquencies, leading to a current NNPA ratio of 0.46 per cent. Private sector banks (PSB), in particular, have managed to bring down their incremental provisioning levels due to consistent <keyword id="20031968" type="General" weightage="20" keywordseo="asset-quality" source="keywords">asset quality</keyword> improvements. They have contributed to the overall improvement in the banking sector's asset quality. The proposed provisioning norms for projects under construction by the Reserve Bank of India (RBI) could impact SCBs' credit costs in the coming years, with public banks expected to see a 0.2 per cent increase in credit costs between FY25 and FY27. Additionally, private banks could face a 0.1 per cent increase during the same period. Moreover, downside risks to this positive trend include elevated crude oil prices, a potential <keyword id="20695381" type="General" weightage="20" keywordseo="global-economic-slowdown" source="keywords">global economic slowdown</keyword>, and tightening global monetary policies. These factors could influence asset quality and profitability in the coming quarters. The Indian banking sector's asset quality has reached pre-asset quality review (AQR) levels. The GNPA ratio of SCBs at 2.8 per cent and the NNPA ratio at 0.6 per cent reflect a sustained improvement. Credit offtake, which grew by 18.1 per cent y-o-y in Q1FY25, is expected to remain strong, supported by economic expansion, capital expenditure increases, and government schemes like the Production Linked Incentive (PLI) initiative. While the outlook for SCBs remains positive, external economic factors and RBI's proposed provisioning changes may influence the trajectory of asset quality in the coming quarters. (ANI)

Net NPAs of Indian banks dropped by 24.9% and Gross NPAs by 15.2% as of June 2024: CareEdge

Mumbai, Dec 27 () The gross non-performing asset ratio of banks may increase to 9.9 per cent by September 2020 from 9.3 per cent in September 2019, according to an RBI report.
 The gross NPA ratio of banks stood at 9.3 per cent in March 2019.
 "The stress tests indicate that under the baseline scenario, the GNPA ratios of banks may increase to 9.9 per cent by September 2020, due to change in macroeconomic scenario, marginal increase in slippages and the denominator effect of declining credit growth," RBI said in its Financial Stability Report (FSR).
 The report said state-run banks' GNPA ratios may increase to 13.2 per cent by September 2020 from 12.7 per cent in September 2019, whereas for private banks it may climb to 4.2 per cent from 3.9 per cent, under the stress scenario.
 The foreign banks' gross bad loans may increase to 3.1 per cent from 2.9 per cent in September 2019.
 The report said banks net non-performing assets (NNPA) ratio declined in September 2019 to 3.7 per cent, reflecting increased provisioning.
 The aggregate provision coverage ratio (PCR) of all banks rose to 61.5 per cent in September 2019 from 60.5 per cent in March 2019.
 PCRs of both state-run banks and private banks increased in September 2019.
 "Following the recapitalisation of state-run by the government, banks capital to risk-weighted assets ratio (CRAR) improved to 15.1 per cent in September 2019 from 14.3 per cent in March 2019," the report said.
 The state-run banks' CRAR improved to 13.5 per cent from 12.2 per cent during the same period.
 Bank-wise distribution of asset quality showed that while 24 banks had GNPA ratios of under 5 per cent, four banks had GNPA ratios higher than 20 per cent in September 2019.
 The asset quality of agriculture and services sectors, as measured by their GNPA ratios, deteriorated to 10.1 per cent in September 2019 as compared to around 8 per cent in March 2019.
 For the industry sector, the slippages during the period declined to 3.79 per cent from around 5 per cent in March 2019.
 The report showed that the share of large borrowers in banks' total loan portfolios and their share in GNPAs was at 51.8 per cent and 79.3 per cent, respectively, in September 2019, lower compared to the 53 per cent and 82.2 per cent, respectively in March 2019.
 The top 100 large borrowers accounted for 16.4 per cent of banks' gross advances and 16.3 per cent of GNPAs. HV ABM
ABM

Banks' gross NPA ratios may rise to 9.9 pc by Sept 2020: RBI

The bad assets or gross <keyword id="19964545" type="General" weightage="20" keywordseo="NPAs" source="keywords">NPAs</keyword> of commercial <keyword id="19934118" type="General" weightage="20" keywordseo="banks" source="keywords">banks</keyword> fell to a 12-year low of 2.8% in March 2024 and may go down further to 2.5% by the end of the current fiscal, said the <keyword id="19899808" type="General" weightage="100" keywordseo="RBI" source="keywords" meta.keywordsubtype="org" meta.entityname="RBI" meta.hostid="269" meta.entityid="RBI">RBI</keyword>'s <keyword id="678734" type="General" weightage="20" keywordseo="Financial-Stability-Report" source="Orion">Financial Stability Report</keyword> (FSR) released on Thursday. <keyword id="19982351" type="General" weightage="20" keywordseo="Scheduled-Commercial-Banks" source="keywords" meta.keywordsubtype="org" meta.entityname="Scheduled Commercial Banks" meta.hostid="269" meta.entityid="Scheduled Commercial Banks">Scheduled Commercial Banks</keyword>' (SCBs) gross <keyword id="6401657" type="General" weightage="20" keywordseo="non-performing-assets" source="Orion">non-performing assets</keyword> (<keyword id="19982350" type="General" weightage="20" keywordseo="GNPA" source="keywords">GNPA</keyword>) ratio fell to 2.8%, and the net non-performing assets (NNPA) ratio to 0.6% at the end of March 2024. "The asset quality of SCBs recorded sustained improvement, and their GNPA ratio moderated to a 12-year low in March 2024. Their NNPA ratio too improved to a record low," said the June FSR. Among bank groups, public sector banks (<keyword id="20012926" type="General" weightage="20" keywordseo="PSBs" source="keywords">PSBs</keyword>) recorded a substantial reduction (76 bps) in their GNPA ratio during H2 2023-24. While the GNPA stock decreased across all bank groups, active and deep provisioning by PSBs and foreign banks (FBs) resulted in an improved provisioning coverage ratio (PCR) in March 2024, the report said. The half-yearly slippage ratio (viz, new NPA accretions as a share of standard advances) decreased across bank groups. Though the amount of write-offs declined during the year, the write-off ratio remained almost at the same level a year ago due to a reduction in GNPA stock, the FSR said. Overall, it added the sustained reduction in the GNPA ratio since March 2020 has been primarily due to a persistent fall in new NPA accretions and increased write-offs. The RBI said macro stress tests are performed to assess the resilience of SCBs' balance sheets to unforeseen shocks emanating from the macroeconomic environment. These tests attempt to assess capital ratios over a one-year horizon under a baseline and two adverse (medium and severe) scenarios. "The GNPA ratio of all SCBs may improve to 2.5% by March 2025 under the baseline scenario," the report said. However, if the macroeconomic environment worsens to a severe stress scenario, the ratio may rise to 3.4%. Under the severe stress scenario, the GNPA ratios of PSBs may increase from 3.7% in March 2024 to 4.1% in March 2025, whereas it may go up from 1.8% to 2.8% for private sector banks and from 1.2% to 1.3% for FBs. The <keyword id="20089808" type="General" weightage="20" keywordseo="financial-stability" source="keywords">Financial Stability</keyword> Report reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on the resilience of the Indian financial system and risks to financial stability. The report further said deposit mobilisation by SCBs gathered pace during 2023-24, with a large portion of new accretions in the form of term deposits. "Interest rates became more attractive as banks stepped up efforts to mobilise funds to match the rapid rise in credit demand. Growth in current account and savings account (CASA) accelerated across all bank groups," the RBI said. According to the report, bank credit accelerated during H2 2023-24 among public sector banks (PSBs) and foreign banks (FBs), whereas it moderated in respect of private sector banks (PVBs). The share of credit to the services sector and personal loans in the aggregate loan portfolio increased. Personal loans accounted for over half of PVBs' <keyword id="19998083" type="General" weightage="20" keywordseo="credit-growth" source="keywords">credit growth</keyword>. The expansion in personal loans was broad-based, led by housing loans and followed by other personal loans.

Banks' gross NPAs at 12-yr low, may fall further to 2.5%: RBI report

The Reserve Bank of India (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) has introduced guidelines for the voluntary transition of <keyword id="19927315" type="General" weightage="20" keywordseo="Small-Finance-Banks" source="keywords">Small Finance Banks</keyword> (SFBs) to <keyword id="21285419" type="General" weightage="20" keywordseo="universal-banks" source="keywords">Universal Banks</keyword>, effective immediately. According to the guidelines, SFBs seeking to transition into Universal Banks must meet specific eligibility criteria. Firstly, they must maintain a satisfactory track record of performance for a minimum of five years. Additionally, their shares should be listed on a recognized stock exchange, and they must possess a minimum net worth of Rs 1,000 crore as at the end of the previous quarter (audited). Moreover, they should meet the prescribed Capital to Risk-weighted Assets Ratio (CRAR) requirements for SFBs and have recorded a net profit in the last two financial years. Asset quality is also a key factor, with GNPA and NNPA required to be less than or equal to 3 percent and 1 percent respectively in the last two financial years. Furthermore, the RBI has outlined conditions regarding shareholding patterns during the transition. There is no mandatory requirement for an eligible <keyword id="20115927" type="General" weightage="20" keywordseo="sfb" source="keywords">SFB</keyword> to have an identified promoter. Existing promoters will continue as promoters on transition, and no addition or change in promoters is permitted during the transition. There will be no new mandatory lock-in requirement for existing promoters, and the promoter shareholding dilution plan already approved by the RBI will not change. Eligible SFBs with a diversified loan portfolio will be preferred for transition. SFBs seeking transition must provide a detailed rationale for the shift and submit their application in the prescribed form to the RBI's Department of Regulation in Mumbai. The application will be assessed in accordance with the guidelines for 'on-tap' Licensing of Universal Banks in the Private Sector dated August 1, 2016, and RBI (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023. Upon transition, the bank will be subjected to all relevant norms, including the Non-Operative Financial Holding Company (NOFHC) structure, as per the guidelines. This initiative, outlined in Paragraph 14 of the "Guidelines for 'on-tap' Licensing of Small Finance Banks in Private Sector" dated December 5, 2019, provides a clear pathway for SFBs to convert into Universal Banks, subject to certain conditions. (ANI) SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank">Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499</a><a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a>

RBI initiates transition plan: Small finance banks to ascend to universal banking status

<ul><li><keyword id="19898108" type="General" weightage="20" keywordseo="sbi" source="keywords">SBI</keyword>’s Q3 income and profit were hit by heightened wage costs, which is expected to normalize in FY25.</li><li>Its improving asset quality, lower credit costs and drop in NPAs have impressed the street.</li><li>Analysts believe that its deposit situation is ‘comfortable’ giving it enough headroom to cushion loan growth. </li></ul>India’s largest bank SBI saw its third quarter profits slip by 35.5% as it took a ₹7,100 exceptional charge. It provided for pension and gratuity liabilities as it reached an agreement with the unions for a 17% wage hike last November. These costs might flow into Q4 as well with a normalization expected only in FY25. Yet, the street is impressed with its asset quality improvement and business outlook. “The quarter had fewer pressure points on slippages (0.6%), credit costs (0.1%) and asset quality metrics. Loan growth is healthy at 15% <keyword id="19921444" type="General" weightage="20" keywordseo="yoy" source="keywords">YoY</keyword> and the bank is comfortable with the deposit situation unlike most private banks,” said Kotak Institutional Equities. Its continued recoveries and write-offs led to a 13 basis point sequential drop in the gross non-performing asset (GNPA) ratio to 2.42%. The net non-performing asset (NNPA) ratio remained flat at 0.64%. Its restructured book declined to ₹18,900 crore to 0.5% of advances, while special mention accounts (SMA) 1/2 portfolio stood at ₹4,130 crore which is 12 basis point of loans. “Asset quality continues to be in pristine form. Overall performance was healthy and the bank continues to gain from the low credit cost cycle, which can continue for some time and is difficult to precisely time the normalization,” said a report by Antique Stock Broking. With SBI, Kotak Institutional Equities says, few of the identified risks had played out. “Our conversation with investors usually focusses on what can go wrong with SBI than what is probably going favourably for the bank. Last year had issues with a specific conglomerate, ECL provisions, MTM losses, unsecured loan growth, wage settlement and importantly capital adequacy ratios. The eventual impact on earnings is far lower as compared to the risks that we tend to assign to these issues,” the brokerage said. Margin decline to be arrested at current levels: Management Its net interest margins (NIMs) have declined both on an annual and a sequential basis, as it repriced its term deposits. But that has also not rattled analysts, who believe that the NIM decline has been lower than expected. “Margin declined by 28 YoY and 7 bps QoQ as increase in cost of deposits due to deposit re-pricing at higher rates (mainly term deposits) outpaced yield on advances. The management highlighted that going forward, margin decline is expected to be arrested at current levels as majority of the deposits have been re-priced,” said Axis Securities. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3FY24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YoY change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QoQ change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net interest income </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹398.2 bn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net interest margin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">(28bps) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">(7bps) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹91.6 bn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-35.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-36.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net NPA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">(13bps) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Provision </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6.9 bn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-88.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">496.7 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Advances </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹35,195 bn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.2 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deposits </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹47,622 bn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.6% </td></tr></tbody></table>Source: Phillip Capital Best placed for good credit growth In the third quarter, its advances grew by 15% YoY, with retail and SME segments growing by 15% and 19%, respectively. Its agri loan book grew 18% YoY, while corporate growth too picked up to 11% YoY. Its auto and <keyword id="20009472" type="General" weightage="20" keywordseo="xpress" source="keywords">Xpress</keyword> credit grew at 21% and 16% YoY, respectively. Most analysts believe that it has a good headroom with deposits that can cushion loan growth. The management remains confident to grow by 14-15% with opportunities under <keyword id="20205451" type="General" weightage="20" keywordseo="aatma-nirbhar-bharat" source="keywords">Aatma Nirbhar Bharat</keyword> scheme, renewable energy loans. It’s also aggressively looking at growing its agri loan portfolio to capture the entire value chain. It launched two new products — Agri Enterprise Loan and Kisan Samradhi to acquire high value farmers. “We expect SBI to grow at 13% CAGR over FY24-26 due to tight system liquidity. We have cut loan growth by 1% for all coverage banks except SBI, given upside risks as the following levers may support credit offtake viz. low loan-to-deposit ratio (LDR) at 74% adequate liquidity coverage ratio (LCR) at 131% and sufficient Common Equity Tier 1 capital (CET1) at 11%, post RBI norms on re-classification of investments,” said <keyword id="20460408" type="General" weightage="20" keywordseo="prabhudas-liladher" source="keywords">Prabhudas Liladher</keyword>.

SBI’s core business stays strong despite one-time hit on account of higher wage costs in Q3

<keyword id="1397102" type="General" weightage="20" keywordseo="Public-sector-bank-stocks" source="Orion">Public sector bank stocks</keyword> have rallied more than 25 per cent post their stellar Q2 financial results with net profit jumping by 50 per cent. Union Bank of India stock price is up by 60.8 per cent over the last month among the PSU bank stocks. Bank of India is up by 56.1 per cent during the month while UCO Bank is up by 32.4 per cent. The Nifty PSU Bank index made a new 52-week high on Friday. The index was up by 21.35 per cent last month. Amber Pabreja, Founder and CEO of Trendlyne, said the Nifty PSU Bank index has rallied more than 25 per cent after public sector banks delivered strong Q2 results - a sign of investor confidence. Loan growth has jumped by double digits. "We should keep in mind, however, that interest rates are on the rise, and deposits are growing relatively slowly. This means more expensive loans and lower net interest margin growth in the coming quarters. It will be a riskier environment for the banks," he said. "Overall, PSU banks will need to keep a close eye on their asset quality, especially as we head into FY24. And investors will have to become more selective with their picks. I expect major banks to stay resilient. State Bank of India (SBI), for example, reported a net NPA ratio of less than 1 per cent (.8 per cent for September 2022 quarter), and its earnings are expected to grow by 33 per cent in FY23 as per Trendlyne's consensus estimates," Pabreja said. S&amp;P Global Market Intelligence said in a report that Indian banks will gain from tailwind of rising rates as credit growth stays steady. Rising interest rates will continue to help Indian banks in the rest of the fiscal year ending March 31, 2023, after high credit growth and stronger margins helped propel earnings. Five of the six biggest banks by assets in India reported an increase in net income for the fiscal second quarter ended September 30, the report said. Vinod Nair, Head of Research at Geojit Financial Services, said, "The rally of PSBs was triggered by the strong earnings growth announced in Q2 results. It provided a good set of number with high provision coverage and improvements in asset quality. Combined net profit of 12 PSBs is up by 50 per cent on a Y-o-Y basis to Rs 25,685 crore. " Nair said the upgrade in outlook demanded improvement in valuation. There was a strong arbitrage opportunity due to heavy disparity between the valuation of private and public sector banks. However, due to sharp rally, P/B ratio has increased to 0.9x from 0.5x, narrowing the valuation gaps and limiting the performance on a short to medium-term. Banks took advantage of the higher interest rate environment to bolster their net interest margins, while previous efforts to reduce their nonperforming assets resulted in lesser loan loss provisions, their recently released earnings reports showed, S&amp;P Global Market Intelligence said. The second quarter results of private sector, as well as public sector banks, were "picture perfect", said Tusharika Aggarwal, research analyst, Asia-Pacific dividend forecasting at S&amp;P Global Market Intelligence. "I remain fairly confident in the banks' earnings for rest of the year. The interest rate hikes, although the quantum will decline, would still benefit Indian banks. And because credit growth is increasing, so despite high-interest rates, net interest income will grow," Aggarwal said. While lending rates have increased on aggregate with growing demand, interest rates offered to depositors have risen more slowly, Aggarwal said, adding that the gap, along with lower credit loss provisions, has resulted in better return on assets for banks. Ajit Kabi, Banking Analyst at LKP Securities, said, "The outperformance of public banks was evident as the fundamentals are getting stronger. The recapitalisation had improved the capital requirement which led the banks to grow the balance sheet. The credit growth reported was the highest in the decade. The deposit growth was also above the market growth rate. The large public banks (SBI, BoB, Canara Bank) have gained market share." On the asset quality front, the GNPA/NNPA level reduced significantly with ample provision buffers. The contingent provision for the bank seems adequate and above regulatory requirements against the restructured pool. The outperformance across yardsticks and inexpensive valuation has driven the rally in recent times. The rally is likely to continue for public banks as their balance sheet is at a sweet spot to grow with minimum asset quality hiccups, Kabi said. S&amp;P Global Market Intelligence said bank credit growth picked up for both public and private sector banks in the first half of fiscal 2022-2023, according to Reserve Bank of India data released in September. Private sector banks' credit growth for the fiscal first half came to 20.4 per cent, compared to 13.9 per cent for public sector banks. The central bank expects gross domestic product growth at 7 per cent in the current fiscal year ending March 31, 2023, and to ease to 6.5 per cent in the next fiscal year, dampened by further monetary tightening in the central bank's fight to control inflation. Manoj Kumar Dalmia, Founder and Director, Proficient Equities, said PSU bank stocks have been in a rally recently pertaining to good quarters and increased credit uptakes due to festive demand. The banks are also poised well, having improved asset quality. Despite the rally, many PSU banks are available at a reasonable valuation ranging from 0.5-1.0 Price/BV and investors can accumulate them with a long-term perspective. Some PSU banks to look for could be Canara Bank and Union Bank of India. Sujan Hajra, Chief Economist and Executive Director, Anand Rathi Shares and Stock Brokers, said, "With robust credit growth, improving net interest margin (typical during the early phase of a rate hiking cycle), adequate coverage ratios, and no major signs of asset quality deterioration, we are fundamentally positive on the banking sector. "However, with the overstretched credit-to-deposit ratio, either the credit growth rate or the net interest margin of the private sector banks are likely to deteriorate. With very significant excess investment in government securities over statutory requirements, public sector banks are better off which explains the recent strong rally." After a sharp fall in deposit and credit shares to private banks, there are signs that PSUs may get back a part of it. There has been relative improvements in the return ratios as well. Meanwhile, large valuation differences continue. These factors also seem to be driving the rally, he added. S&amp;P Global Market Intelligence said the key surprise in banks' fiscal second quarter results was a 25-basis-point quarter-over-quarter expansion in NIM. It added, however, that even as this trend is working favourably now, it will increase the procyclical nature of earnings and will be a concern later when rates begin declining. Most banks reported faster credit growth as they ride on rising demand for loans. However, deposit growth is lagging and may push up funding costs later, Nikita Anand, associate director at S&amp;P Global Ratings, said. "We note that deposit growth is lagging credit growth, leading to higher loans-to-deposit ratios, which is positive for margins. However, with higher term deposit rates, there is likely to be some movement of funds from savings deposits to terms deposits. This could lead to some rise in cost of funds," Anand said. Some bank chiefs said they have started looking at ways to keep NIMs intact. Dinesh Khara, chairman of State Bank of India, said the bank will continue to open more savings bank accounts to attract low-cost funds and offer remunerative rates on term deposits to customers. "We are very mindful in terms of increasing our interest rates on the term deposits. So, I think, hopefully our effort will be to sustain the NIM," Khara said during the bank's November 5 earnings call. State Bank of India reported a rise in fiscal second-quarter net profit to Rs 147.52 billion from Rs 88.89 billion, while Bank of Baroda's net profit for the period rose 56.8 per cent year-over-year to Rs 34 billion from Rs 21.68 billion. Punjab National Bank, however, reported that its net profit for the quarter fell 55.3 per cent to Rs 4.94 billion as the state-run lender increased provisions for nonperforming assets by 30.9 per cent year-over-year to Rs 35.33 billion. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-nifty50-post-negative-returns-this-week-as-autos-drag-psu-banks-surge/articleshow/95607400.cms" style="">Sensex, Nifty50 post negative returns this week as autos drag – PSU banks surge</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/three-out-of-seven-companies-out-from-trillion-dollar-club/slidelist/95607217.cms">Three out of seven companies out from trillion dollar club</a>

PSB stocks on 52-week high riding on record profits, double-digit loan growth

<ul><li><keyword id="46013" type="CITY" weightage="20" keywordseo="Kotak-Mahindra-Bank">Kotak Mahindra Bank</keyword> reported an yearly improvement in profit of 27% and income growth of 17% in the second quarter. </li><li>The bank is on ‘alert’ as it recovers from the impact of COVID-19 on its balance sheets.</li><li>The bank has not recognised any non-performing assets (NPA) since August 31, adhering to the Supreme Court’s order. If not for that, its gross non-performing assets (GNPA) would have been at 2.07% and net non-performing assets (NNPA) would have been at 0.74%.</li></ul>Kotak Mahindra Bank (KMB) is still on ‘alert’ as it recovers from the COVID-19 impact. In the three months from July to September, its profit increased by 27%, and net interest income (NII) has grown by 17% compared to the same period last year. The numbers have come in a day after a news report indicated that KMB is eyeing a merger with <keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword>, even as <a href="https://www.businessinsider.in/finance/banks/news/indusind-bank-shares-rally-4-after-rumours-of-kotak-mahindra-bank-merger/articleshow/78867706.cms">spokespersons</a> of both financial institutions have denied this. <div type="Article" hostid="261" msid="78867706" title="IndusInd Bank shares rally 4% after promoters refute reports of merger with Kotak Mahindra Bank" mstype="2" mssubtype="0"></div> Even after earnings, the bank’s shares continue to flat in the stock market, marginally in the red. <div type="image" title="Kotak Mahindra Bank share price" msid="78869847" hostid="261" caption="&amp;lt;p&amp;gt;Kotak Mahindra Bank share price since 1 July 2020&amp;lt;/p&amp;gt;"></div> Impact of compound interest waiver for moratorium loans The bank is yet to address the impact of compound interest waiver for loans under moratorium. At the end of the first quarter, KMB had 10% of its total portfolio opting for the moratorium, which is considerably lower than other banks — except HDFC Bank. The bank has not recognised any non-performing assets (NPA) since August 31, adhering to the Supreme Court’s order. If not for that, its gross non-performing assets (GNPA) would have been at 2.07% and net non-performing assets (NNPA) would have been at 0.74%. “As a matter of prudence, the bank has made additional provisions (including on interest accrued) of ₹92 crore on such advances,” it said its filing. Kotak Mahindra Bank: Asset Quality <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GNPA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.55% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NNPA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.64% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital adequacy ratio </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22% </td></tr></tbody></table>Source: Company filings. GNPA and NNPA as on 30 September 2020. At the end of the second quarter, KMB’s COVID-related provisions stood at ₹ 1,279 crore, accounting for 0.62% of its net advances. Non-specific provisions towards advances — including standard and COVID provisions — is at 177% of the net non-performing assets (NNPA) of the bank. The bank’s CASA ratio has also improved from 53.6% to 57.1% on a yearly basis. According to the bank, high frequency indicators are positive. This includes GST collections, power, petroleum and other sectors. Increased government spending and the Monetary Policy Committee’s (MPC) accommodative stance were also commended. Considering the slow down in retail loans, KMB is looking to open up select segments for credit growth — home loans and high quality corporates in particular. According to the bank, rural and semi-urban India shows promise. This is reflected by the recovery of India’s infrastructure sector, which surprised everyone, including one of India’s richest men — <a href="https://www.businessinsider.in/business/corporates/news/kumar-mangalam-birla-says-cement-industry-is-recovering-and-analysts-find-evidence-of-it-outside-ultratech-too/articleshow/78791281.cms">Kumar Mangalam Birla. </a> Updated: Correction made. Kotak Mahindra Bank's gross non-performing assets (GNPA) would have been at 2.07% not 5.07% SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/indusind-bank-shares-rally-4-after-rumours-of-kotak-mahindra-bank-merger/articleshow/78867706.cms">IndusInd Bank shares rally 4% after promoters refute reports of merger with Kotak Mahindra Bank</a> <a href="https://www.businessinsider.in/tech/enterprise/news/stack-overflow-ceo-prashanth-chandrasekar-explains-how-stack-overflow-flipped-the-script-on-software-development/articleshow/78854564.cms">EXCLUSIVE: Communities, brand and then product — CEO explains how Stack Overflow flipped the script on software development</a> <a href="https://www.businessinsider.in/india/news/trump-calls-india-china-and-russia-filthy-while-justifying-exit-from-paris-agreement/articleshow/78821267.cms">Trump calls India, China and Russia ‘filthy’ while justifying exit from Paris Agreement</a>

Kotak Mahindra Bank still on ‘alert’ as profit improves 27% over the last three months

<ul><li>Axis Bank is profitable again as it posts a net profit of ₹1,683 crore after a dip of 19% last year. </li><li>Credit growth was lower than expected at 6%. </li><li>The bank’s fund raising of ₹10,000 crore went towards additional provisions.</li></ul>Axis Bank’s profit is in the green again after reporting a dip of 19% last quarter. Between July and September, net profit was at ₹1,683 crore. This is also an increase compared to same quarter last year, when the bank registered a net loss of ₹112 crore. The bank’s net interest income also showed growth of around 20% in the second quarter as compared to the same time period last year. <div type="Article" hostid="261" msid="78869757" title="Kotak Mahindra Bank still on ‘alert’ as profit improves 27% over the last three months" mstype="2" mssubtype="0"></div> More importantly, collection of fees showed considerable improvement standing at ₹2,752 crore — growing 67% over the first quarter and 4% over last year. According to the bank, the key driver for fee income growth for retail fees, which — in itself — grew by 82% over the last three months. Loan growth, however, was underwhelming, increasing by only 6%. Most <a href="https://www.businessinsider.in/finance/banks/news/axis-bank-q2-earnings-indias-third-largest-private-lender-to-see-slower-loan-growth-and-collections/articleshow/78894218.cms">analysts expected</a> at least 10% in credit growth. Axis Bank’s ₹10,000 crore in fund raising put towards provisions At the end of September, Axis Bank’s gross non-performing assets (GNPA) and net non-performing assets (NNPA) were at 4.18% and 0.98% respectively. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NPA ratio </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">June 2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GNPA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.18% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.72% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NNPA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.98% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.23% </td></tr></tbody></table> The bank has not recognised any non-performing assets (NPAs) since August 31, adhering to the Supreme Court's order. If not for that, its GNPA would have been 4.28% and NNPA would have been 1.03%. Axis Bank has made incremental provisions of ₹1,279 crore towards loans under moratorium and ₹ 1,864 crore towards probable restructuring, aggregating to ₹ 3,143 crore. It has another ₹10,839 crore in aggregated additional provisions which comes from the funds it raised through allotment of equity shares to qualified institutional buyers (QIB). The fund raising also led to the paid-up share capital of the Axis Bank increasing by ₹47 .61 crore and the reserves of the bank increasing by ₹9 ,915.37 crores after charging off issue related expenses. On an aggregated basis, provision coverage ratio — which includes specific, standard, additional and COVID-19 provisions — stands at 124% of GNPA at the end of September. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/building-blocks-of-life-discovered-in-titans-atmosphere-nasa-discovers-a-weird-molecule-on-saturns-largest-moon/articleshow/78909286.cms">Building blocks of life discovered in Titan’s atmosphere — NASA discovers a ‘weird’ molecule on Saturn’s largest moon</a> <a href="https://www.businessinsider.in/finance/banks/news/ajay-piramal-believes-that-if-banks-wont-lend-to-long-term-projects-india-will-need-to-revive-the-likes-of-idbi-and-ifci/articleshow/78906135.cms">EXCLUSIVE: Ajay Piramal believes that if banks won't lend to long-term projects, India will need to revive the likes of IDBI and IFCI</a> <a href="https://www.businessinsider.in/science/space/news/apophis-the-god-of-chaos-asteroid-is-speeding-up-increasing-the-likelihood-of-it-hitting-earth-in-2068/articleshow/78895818.cms">Apophis, the ‘God of Chaos’ asteroid is speeding up — increasing the likelihood of it hitting Earth in 2068</a>

Axis Bank is back in the black as fee collections ramp up and ₹10,000 crore in fund raising cushions the balance sheet

Mumbai, Lending major <keyword id="6355975" type="COMPANY" weightage="20" keywordseo="axis-bank">Axis Bank</keyword>'s net profit for the third quarter of 2020-21 fell 36 per cent due to higher provisioning. Accordingly, the bank's net profit fell to Rs 1,116.6 crore from Rs 1,757 crore reported during the corresponding period of the previous fiscal. The bank said profit after tax for the quarter was adversely impacted to the extent of Rs 1,050 crore on account of prudent expenses and provisioning charges. However, the banking major's net interest income grew by 14 per cent to Rs 7,373 crore from Rs 6,453 crore reported during the like period of the previous fiscal. "Net interest margin (<keyword id="173910" type="COMPANY" weightage="20" keywordseo="NIM">NIM</keyword>) for Q3FY21 was 3.59 per cent as against 3.57 per cent for Q3FY20," the bank said in a statement. As per the statement, specific loan loss provisions for Q3FY21 were Rs 1,053 crore, compared to Rs 2,962 crore in Q3 last year. "The bank has made provisions on "90+ DPD" accounts not classified as <keyword id="79363" type="COMPANY" weightage="20" keywordseo="NPA">NPA</keyword> pursuant to the <keyword id="6354977" type="COMPANY" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> judgment, at rates that would have applied to these accounts per extant provisioning rules for NPA in the banks, amounting to Rs 3,899 crore during the quarter." "The bank holds cumulative provisions of Rs 11,856 crore at the end of Q3FY21. It is pertinent to note that this is over and above the NPA provisioning included in our PCR calculations." Notably, these cumulative provisions translate to a standard asset coverage of 2.08 per cent as on December 31, 2020. "As on 31st December 2020, the bank's reported Gross NPA and Net NPA levels were 3.44 per cent and 0.74 per cent respectively as against 4.18 per cent and 0.98 per cent as on 30th September 2020." "Absent the standstill to asset classification post August 31, 2020 pursuant to the Supreme Court judgment, the bank would have been required to report GNPA per RBI's extant IRAC norms for asset classification." Accordingly, the GNPA ratio as per said IRAC norms as on Dec 31 would have been 4.55 per cent and Net NPA ratio would have been 1.19 per cent. "This reflects decline of 45 bps and 90 bps respectively on a YoY basis and an increase of 27 bps and 16 bps on GNPA and NNPA respectively on a sequential basis."

Axis Bank's net profit for the Q3 of 2020-21 fell 36%

<ul><li><keyword id="6355975" type="COMPANY" weightage="20" keywordseo="axis-bank">Axis Bank</keyword>’s share price is up by over 6% in early morning trade.</li><li>The jump in stock value comes after the bank revealed that its moratorium book was only 9.7% of the total portfolio in terms of value. </li><li>Axis Bank has also built up buffers to the tune of $900 million to address stressed assets and COVID-19 contingency.</li></ul>Axis Bank’s share price rallied over 6% in early morning trade, reacting to its Q1 earnings posted last evening. The primary concern over asset quality was assuaged when the bank disclosed that only 9.7% total portfolio consisted of loans that had opted for the Reserve Bank of India’s (RBI) moratorium. <div type="image" title="axis bank stock price (1)" msid="77100086" hostid="261" caption="&amp;lt;p&amp;gt;Axis Bank stock price surges by over 6%&amp;lt;/p&amp;gt;"></div> Analysts are now positive about Axis Bank’s growth and have increased their earnings estimates based on the bank’s strong net interest income (NII) growth and sequential decline in provisions. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 600 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDBI Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 530 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 565 </td></tr></tbody></table> 90% of the customers who opted for the second moratorium are the same as the ones who opted for the first moratorium. Nonetheless, management said that Axis Bank remains cautious which is why it has a provision buffer of nearly $900 million and is building up a solid war chest. <div type="Article" hostid="261" msid="77086850" title="Axis Bank has set aside over $900 million fearing COVID-19 may sour loans" mstype="2" mssubtype="0"></div> In June, 80% of corporate clients and 70% of customers in retail who had opted for the moratorium successfully paid the interest on their loans. The bank’s Gross Non-Performing Assets (GNPA) ratio and Net Non-Performing Assets (NNPA) ratio has also improved over last quarter. <div type="image" title="Axis bank GNPA NNPA" msid="77100109" hostid="261" caption="&amp;lt;p&amp;gt;Axis Bank&amp;#39;s GNPA and NNPA ratios over the last five quarters&amp;lt;/p&amp;gt;"></div> This has helped boost the provisions coverage ratio (PCR) to 75%, an increase of 576 basis points (bps) over the last quarters. A hundred bps make up 1%. “Post near term stress taking shape, we expect the book to normalize and improve thereon,” said IDBI Capital’s review. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/axis-bank-has-set-aside-over-900-million-fearing-covid-19-may-sour-loans/articleshow/77086850.cms">Axis Bank has set aside over $900 million fearing COVID-19 may sour loans</a> <a href="https://www.businessinsider.in/stock-market/news/hdfc-bank-share-price-rises-on-bond-issue-and-increase-in-provision/articleshow/77061426.cms">HDFC Bank is beefing up capital and provision to cushion a spike in bad loans post moratorium — and that’s helping its share price</a>

Axis Bank share price surges over 6% after earnings reveal that only 9.7% of its loans are exposed to the moratorium

<ul><li>India’s largest lender, the <keyword id="6354731" type="UNKNOWN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (SBI), has logged a net profit of over 50% in the second quarter between July to September.</li><li>In the coming months, it plans to outperform the industry when it comes to credit growth, with retail nearly at pre-COVID levels, according to SBI. </li><li>Disbursements have increased across home loans, auto loans and personal loans. </li></ul>India’s largest bank, the State Bank of India (SBI), has logged a net profit of 51.88% on an annual basis. Around ₹1,529.73 crore of the profit came from SBI’s stake sale in its subsidiary SBI Life Insurance. Its Net Interest Income (NIM) grew at 14.56% in the second quarter compared to one year ago. Not only did SBI perform well in the second quarter, but it has high expectations for the second half of the current fiscal as well. The bank claims that its asset quality is better than what it had estimated and plans to give out more credit in the coming months. “In the current credit cycle we expect to outperform the industry,” said the bank in a statement. So far, retail has performed better than other segments for the bank. Disbursements have increased across home loans, auto loans and personal loans. Most companies within its portfolio are also returning to pre-COVID levels, according to the bank. “Their activity levels are 70% to 80% of pre-COVID levels. Our assessment ratio suggests that activity is close to 90% of pre-pandemic levels,” the bank said in its filing with the exchanges. Bad loans and restructuring In light of the Reserve Bank of India’s (RBI) mandate and the coronavirus pandemic, the bank also set aside an additional provision of ₹239 crore for COVID related accounts to bring its grand total up to ₹3,247 crore. As a result, the SBI’s provision coverage ratio at the end of September stood at 88.19%. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asset quality indicator </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reported numbers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performa numbers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gross NPA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.28% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.88% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net NPA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.59% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.08% </td></tr></tbody></table>Source: Company filings (Performa numbers indicate GNPA and NNPA sans the Supreme Court’s order to not recognise any accounts at NPAs after August 31) As a public sector bank, SBI has also had to set aside money for the revision of employee wages, which has been pending since 2017. The bank has made a provision of ₹2,214 for it during the second quarter. Cumulative provisions for wage revision now stand at ₹12,490.41 crore, pending industry level settlement of the issue.

SBI’s profit jumps over 50% in Q2 — India’s largest bank plans to outperform the industry when it comes to credit growth

<ul><li>The share of bad loans in <keyword id="6653" type="CITY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>'s kitty have reduced for the 20th consecutive quarter.</li><li>ICICI Bank's first quarter earnings also saw profit jump by 36% year-on-year (YoY).</li><li>It has kept a cushion of around ₹5,550 crore ($735 million) in provisions for the impact of the coronavirus.</li></ul>ICICI Bank’s profits are up and bad loans shrunk significantly by the end of June 2020. The bank’s net non-performing assets (NNPA) ratio dropped to 1.23% and gross NPA (GNPA) dropped to 5.46%. “The bank’s GNPA lowest in the last 20 quarters,” said ICICI President Sandeep Batra during the earnings call. He added that the number of loans under moratorium has reduced by 30% three months ago to 17% right now. That being said, the bank has set aside ₹5,550 crore ($735 million) in provisions in anticipation of August 31, when the Reserve Bank of India’s (RBI) comes to an end. “The provision has been made to cushion the bank’s balance sheet from the impact of the coronavirus pandemic,” said Batra. ICICI Bank’s total provisions now amount to ₹8,275 crore ($1.1 billion). <div type="image" title="ICICI GNPA NNPA" msid="77167500" hostid="261" caption="&amp;lt;p&amp;gt;GNPA and NNPA ratios for ICICI Bank over the last quarter quarters&amp;lt;/p&amp;gt;"></div> Its net profit grew by 36% to ₹2,599 crore between April and June as compared to the previous quarter last year. <div type="image" title="ICICI PAT profit after tax" msid="77167508" hostid="261" caption="&amp;lt;p&amp;gt;ICICI Bank&amp;#39;s net profits over the last five quarters&amp;lt;/p&amp;gt;"></div> Analysts believe that a big part of the jump is ICICI Bank’s stake sale in ICICI Prudential LIfe and ICICI Lombard. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stake sale </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹840 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Lombard </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2250 crore </td></tr></tbody></table>

ICICI Bank's gross bad loans drop to the lowest in 5 years

<ul><li>The <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> has proposed 15% capital adequacy as a benchmark and LIC Housing Finance is short of that.</li><li>The new restrictions proposed by the regulator will also limit the amount of dividend paid by other non-banking finance companies.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/" data-type="tilCustomLink" target="_blank">Business Insider</a>. </li></ul>The Reserve Bank of India issued a draft circular that proposed restrictions on non-banking finance companies declaring dividends. And, according to analysis by Emkay, only two companies, LIC Housing Finance and M&amp;M Financial Services, in that space do not meet the conditions, under current circumstances, for paying dividends set by the central bank. However, M&amp;M Finance has clarified that it would be eligible. Not surprisingly, it took a toll on the two stocks. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Losses on Dec 10 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LIC Housing Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.11% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra and Mahindra Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.35% </td></tr></tbody></table> The RBI has proposed a capital to risk weighted assets ratio (CRAR) of 15%. Simply put, CRAR is a measure of how much capital the company has compared to the riskiness of its loans. If the borrower fails to repay, the capital would be the cushion to absorb the loss. And LIC Housing Finance fails to meet the RBI threshold on this count. The capital adequacy ratio has been 14.4%% for the company in the last two financial years and 14.5% for the first half of the current one, the report said. The way out of this is that the company can raise money from the market to boost this figure past the 15% mark, and then, shareholders can expect a dividend. M&amp;M Financial, on the other hand, doesn’t make the cut on RBI’s benchmark for paying dividend because the amount of bad loans on its books is a little more than what the regulator likes. The circular has set the threshold at 4% while M&amp;M Financial has a net NPA (non-performing assets) of 4.7%. However, if the firm is able to recover enough loans by March 2021 to bring the metric below 4%, dividend may be back on the table. In the year before COVID-struck, the one ending in March 2019, the company paid a handsome 25.7% dividend to shareholders. On the other hand, in a statement to Business Insider, M&amp;M Financial stated “As per the circular, RBI has proposed a twin matrix of CRAR and NNPA and accordingly specified 4 categories based on a combination of both. CRAR of MMFSL has been above 18% for the last 3 years. Hence, the company will fall in Category B as per the matrix. Secondly, MMFSL’s net NPA at the end of September 30 was 4.7%, based on which our permissible dividend payout ratio is ‘up to 20%’,” the company said. This is not the first time the spotlight has fallen on M&amp;M Finance’s chunk of bad loans. The pandemic has only increased the risk of defaults and therefore the company too has been aggressively setting aside money to cover the losses if they occur. “As we progress, the next six months, which is normally the good six months, we would not see a decline in the gross NPA, and we will maintain our stance on aggressive provisions… if we start seeing things are not improving as we think, then we may take higher provision, whichever is necessary,” Vice Chairman and Managing Director Ramesh Iyer told Business Insider <a href="https://www.businessinsider.in/stock-market/news/mahindra-and-mahindra-finance-managing-director-gets-candid-about-the-rights-issue/articleshow/77212386.cms" data-type="tilCustomLink" target="_blank">in an exclusive chat in July 2020</a>. Here’s an excerpt of that interview: <div type="Youtube" id="Qu9KvcNr1iM" title="M&amp;M Financial MD explains how the company is preparing for the worst and hoping for the best" thumbUrl="https://i.ytimg.com/vi/Qu9KvcNr1iM/mqdefault.jpg"></div> For other NBFCs that are eligible to pay dividend, there may be a cap on how much they can dole out based on the benchmarks set by the RBI. These are the likely limits on dividends given the current financial health of the following firms. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dividend limit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Up to 45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cholamandalam Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Up to 30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Up to 45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T Finance Holdings </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Up to 25 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Magma Fincorp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Up to 25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shriram City Union Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Up to 25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shriram Transport Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Up to 25% </td></tr></tbody></table>Source: Emkay SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/the-33-billion-itc-one-of-indias-most-trolled-stock-in-recent-weeks-seems-to-have-turned-a-corner/articleshow/79641456.cms">The $33 billion ITC, one of India’s most-trolled stock in recent weeks, seems to have turned a corner</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/the-33-billion-itc-one-of-indias-most-trolled-stock-in-recent-weeks-seems-to-have-turned-a-corner/articleshow/79641456.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/icertis-helps-google-microsoft-and-apple-manage-their-contracts-is-hiring-for-techies-and-people-in-sales/articleshow/79640659.cms">EXCLUSIVE: This Indian unicorn helping Google, Microsoft and Apple manage their contracts is hiring⁠— it needs techies as well as people in sales</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/icertis-helps-google-microsoft-and-apple-manage-their-contracts-is-hiring-for-techies-and-people-in-sales/articleshow/79640659.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tata-group-company-voltas-is-telling-analysts-that-it-may-hike-ac-prices-by-3-4-to-cover-rising-input-costs/articleshow/79624340.cms">Voltas is telling analysts that it may hike AC prices by 3-4% to cover rising input costs</a>

You Searched For "NNPA ratio" and got 13 results

Net NPAs of Indian banks dropped by 24.9% and Gross NPAs by 15.2% as of June 2024: CareEdge

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Kotak Mahindra Bank still on ‘alert’ as profit improves 27% over the last three months

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Axis Bank's net profit for the Q3 of 2020-21 fell 36%

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Axis Bank share price surges over 6% after earnings reveal that only 9.7% of its loans are exposed to the moratorium

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How RBI's proposed restrictions may affect your dividends

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