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Banking and Finance

ICICI Bank share price: Jefferies raise their price target to Rs 780 on ICICI Bank

ICICI Bank share price: Jefferies raise their price target to Rs 780 on ICICI Bank

Tue, Mar 30, 2021

An improvement in velocity of ICICI Bank's operating profit growth & steady credit cost will bring down volatility in earnings, which has been a key reason for 55% discount in valuation vs. HDFC Bank.

ICICI Bank Share price - CLSA raises target price to Rs 800 from Rs 675

ICICI Bank Share price - CLSA raises target price to Rs 800 from Rs 675

Tue, Mar 09, 2021

ICICI Bank delivered strong Q3 FY21 results with a big core PPOP beat (+17.7% YoY), just 1.1% slippage and less than 0.4% in restructuring, leading to almost normalised profitability in Q3 FY21 itself (14% ROE). The retail slippage spike (2x vs FY20) for ICICI Bank was better than expected and corporate slippage of 1% of loans was a big positive surprise, and highlights its improvement in underwriting over the past 3-4 years. ICICI Bank share price today is Rs 616, up Rs 8 or 1.3%.

Yes Bank Share price I Anand Rathi maintains Sell rating with price target of Rs 14

Yes Bank Share price I Anand Rathi maintains Sell rating with price target of Rs 14

Wed, Mar 03, 2021

Yes Bank margin expansion, higher non-interest income and lower opex led to a sharp, 1008 bps, sequential decrease in Cost to income ratio, which improved to 39.2%. With the standstill on NPA recognition, asset quality improved.

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Yes Bank Share price - Anand Rathi maintains Sell rating with price target of Rs 14

Yes Bank Share price - Anand Rathi maintains Sell rating with price target of Rs 14

Tue, Feb 23, 2021

Yes Bank margin expansion, higher non-interest income and lower opex led to a sharp, 1008 bps, sequential decrease in Cost to income ratio, which improved to 39.2%. With the standstill on NPA recognition, asset quality improved.

Yes Bank Share price: Anand Rathi maintains Sell rating with price target of Rs 14

Yes Bank Share price: Anand Rathi maintains Sell rating with price target of Rs 14

Thu, Feb 18, 2021

Yes Bank margin expansion, higher non-interest income and lower opex led to a sharp, 1008 bps, sequential decrease in Cost to income ratio, which improved to 39.2%. With the standstill on NPA recognition, asset quality improved. However, Yes Bank’s management disclosed a stressed pipeline of Rs 185 bn, almost twice as much as in Q2 FY21.

ICICI Bank Share price hits 10% upper circuit: Sharekhan raises target price to Rs 680

ICICI Bank Share price hits 10% upper circuit: Sharekhan raises target price to Rs 680

Mon, Feb 01, 2021

Q3 FY21 numbers of ICICI Bank were strong with operational results coming in line with expectations. However, asset quality performance and loan growth were encouraging. Net interest income (NII) rose by 16% yoy and 5.8% qoq to Rs 9912 cr, matching expectations. PAT came in at Rs 4940 cr, up 19% yoy and 16% qoq, in line with estimates.

ICICI Bank Share price: CLSA raises target price to Rs 800 from Rs 675

ICICI Bank Share price: CLSA raises target price to Rs 800 from Rs 675

Mon, Feb 01, 2021

ICICI Bank delivered strong Q3 FY21 results with a big core PPOP beat (+17.7% YoY), just 1.1% slippage and less than 0.4% in restructuring, leading to almost normalised profitability in Q3 FY21 itself (14% ROE). The retail slippage spike (2x vs FY20) was better than expected and corporate slippage of 1% of loans was a big positive surprise, and highlights its improvement in underwriting over the past 3-4 years.

Axis Bank Share price: In line Q3; prudent provisioning a positive II Sharekhan raises price target to Rs 800

Axis Bank Share price: In line Q3; prudent provisioning a positive II Sharekhan raises price target to Rs 800

Thu, Jan 28, 2021

Axis Bank operational performance was largely in line with expectations, but PAT slipped, owing to elevated provisions and slower advances growth. However, asset quality improved qoq. The front-loading of provisions on a proforma basis augurs well for the long term. Axis Bank's Net interest income (NII) grew 14% yoy to Rs 7373 cr and was in-line with estimates.

Yes Bank takes on lease 62,500 sq ft office space in Noida from Max group

Yes Bank takes on lease 62,500 sq ft office space in Noida from Max group

Thu, Dec 03, 2020

Max group's realty arm Max Estates on Thursday said it has leased 62,500 sq ft of office space to Yes Bank in its commercial project in Noida, Uttar Pradesh.

Moratorium slapped on Lakshmi Vilas Bank, Rs 25,000 cap imposed: What it means for customers

Moratorium slapped on Lakshmi Vilas Bank, Rs 25,000 cap imposed: What it means for customers

Wed, Nov 18, 2020

The government on Tuesday imposed moratorium on Lakshmi Vilas Bank (LVB) and capped cash withdrawal at Rs 25,000 in a month. The step was taken on the advice of the Reserve Bank in view of the private sector bank's deteriorating financial health.

HDFC Bank appoints Ramesh Lakshminarayanan as its new CIO

HDFC Bank appoints Ramesh Lakshminarayanan as its new CIO

Thu, Nov 05, 2020

Lakshminarayanan joins from rating agency Crisil, where he was serving as the chief technology and information officer, HDFC Bank said in a statement, adding that he has also had stints with Kotak Mahindra Bank, Citibank and ABN Amro Bank.

HDFC Bank Q2 2020 result: Net profit rises 16 pct to Rs 7,703 cr

HDFC Bank Q2 2020 result: Net profit rises 16 pct to Rs 7,703 cr

Sat, Oct 17, 2020

HDFC Bank Q2 2020 result: India’s largest private lender HDFC Bank on Saturday declared its second quarter results for 2020. As per the exchange filing by the bank, its consolidated net profit has increased by 16 per cent to Rs 7,703 crore in September quarter.

IDBI Bank WhatsApp service launched; now check account, request a cheque book and more 24/7

IDBI Bank WhatsApp service launched; now check account, request a cheque book and more 24/7

Fri, Oct 16, 2020

This launch is a part of sustained initiatives the bank has taken to enable the customers to access banking services remotely at their convenience.

#OperationHaftaVasooli Part 2: Zee Business sting exposes small loan companies, calls out recovery agents

#OperationHaftaVasooli Part 2: Zee Business sting exposes small loan companies, calls out recovery agents

Thu, Jul 16, 2020

#OperationHaftaVasooli Part 2: In a sensational expose, Zee Business has called out small loan companies and recovery agents who have been harassing borrowers and even going to the extent of threatening them for repayment, even during the ongoing coronavirus crisis.

Bank Holidays in July 2020: Full list of days when branches will remain closed

Bank Holidays in July 2020: Full list of days when branches will remain closed

Tue, Jun 30, 2020

Bank Holidays in July 2020: The bank services in India will remain largely unaffected in July, with no major festival falling in the month. Banks in most cities across the country will be functioning all days of the month except for 2nd, 4th Saturday and all Sundays.

Online SBI: Now, you can open State Bank of India account instantly; here is how

Online SBI: Now, you can open State Bank of India account instantly; here is how

Fri, Jun 12, 2020

Online SBI: Want to open a bank account but can’t visit the bank branch? Well, there is no need to worry as you can now open a State Bank of India account instantly from home.

SBI to cut MCLR by 25 bps across all tenors from Jun 10

SBI to cut MCLR by 25 bps across all tenors from Jun 10

Tue, Jun 09, 2020

The country's largest lender State Bank of India (SBI) on Monday announced it will reduce marginal cost of fund based lending rate (MCLR) by 25 basis points across all tenors from Wednesday. The one year MCLR has been revised to 7 per cent from 7.25 per cent, the bank said in a release.

Bank holidays for June 2020: Full list of days when lenders will remain closed

Bank holidays for June 2020: Full list of days when lenders will remain closed

Mon, Jun 01, 2020

There are no major festivals in June. This means that for you, all operations across industries, including Banking, will work smoothly without any off days. However, as per the Reserve Bank of India guidelines, banks remain closed on the second and fourth Saturday and all Sundays of each month.

Kotak Mahindra Bank savings account interest rates slashed by 0.5 pct

Kotak Mahindra Bank savings account interest rates slashed by 0.5 pct

Tue, May 26, 2020

Private sector lender Kotak Mahindra Bank (KMB) has slashed the interest rate on savings deposits by a further 0.50 per cent. This means that customers of the bank will get lesser returns on their savings. This is the third cut by the bank in last two months.

Bank customers alert! Sharp rise noted in attempts to steal your money; do this to stay safe

Bank customers alert! Sharp rise noted in attempts to steal your money; do this to stay safe

Mon, May 25, 2020

There has been a sharp rise in the volume of malicious software aimed at stealing credentials and money from users’ bank accounts, researchers at Kaspersky have noted. The cyber security firm says that in Q1 2020, 42,115 files of this type of malware were found. This is more than two and a half times higher than in Q4 2019.

Your money is under threat from Phishing - check out what you should do and not do

Your money is under threat from Phishing - check out what you should do and not do

Fri, May 22, 2020

The current pandemic has presented a unique situation that the world has never witnessed before. The lockdown across major cities globally and in India has led organisations to leverage technology to keep everyone connected and operating seamlessly.

New wave of Trojans attacking co-operative banks! Stop this RAT attack, don't do this

New wave of Trojans attacking co-operative banks! Stop this RAT attack, don't do this

Tue, May 19, 2020

Indian co-operative banks need to be extra careful as a new wave of Adwind Java Remote Access Trojan (RAT) campaign is targeting their accounts using Covid-19 as a bait.

Banking, home repair, pet services - What Indians think is VERY essential during lockdown

Banking, home repair, pet services - What Indians think is VERY essential during lockdown

Wed, Apr 29, 2020

Home repair and pet services are strangely, are among the most sought after services in India during the lockdown, with most people believing that they should count as essential services. What doesn’t come as a surprise though is the fact that banking remains on top of the list, according to the latest survey conducted by YouGuv.

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