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HDFC Bank opens branch in Kavaratti island, 1st private lender to do so | Company News

10Apr

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HDFC Bank opens branch in Kavaratti island, 1st private lender to do so | Company News

HDFC Bank | Image credits: Bloomberg Largest private sector lender HDFC Bank on Wednesday inaugurated a branch in Lakshadweep's Kavaratti island. The bank becomes the first private sector lender to have a presence in Lakshadweep, according to a statement. The bank seeks to serve customers wherever they are and looks forward to serving the financial needs of individuals, families, and businesses in Lakshadweep, the bank's retail branch banking group head S Sampathkumar said. The branch was inaugurated by Captain Lovekesh Thakur, Commanding Officer, Indian Navy and K P Muthukoya, a well-known resident, in the presence of bank officials, the statement said.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest ...

Net profit jumps 36% to Rs 10,261 cr, NII up 24%

Interest earned by the bank improved to Rs 34,920 crore from Rs 26,033 crore in the September 2022 quarter | Photo: Bloomberg Private sector lender ICICI Bank on Saturday reported a 36 per cent rise in standalone net profit to Rs 10,261 crore for the September 2023 quarter, aided by an improvement in interest income. The Mumbai-based lender had posted a net profit of Rs 7,558 crore in the year-ago period. The total income in the second quarter of the current fiscal rose to Rs 40,697 crore from Rs 31,088 crore in the same period a year ago, ICICI Bank said in a regulatory filing. Interest earned by the bank improved to Rs 34,920 crore from Rs 26,033 crore in the September 2022 quarter. Its net interest income (NII) increased by 24 per cent year-on-year to...

YES Bank’s net profit rises 10.3% in Q1, NII grows 8.1% to Rs 2,000 cr

YES Bank reported a smaller-than-expected increase in quarterly net profit on Saturday as it kept aside more money for bad loans, denting the impact of higher net interest income. The private lender's standalone net profit rose 10.3 per cent for the April-June quarter from the same period last year to Rs 343 crore ($5.25 million), missing analysts' average forecast of Rs 380 crore, according to Refinitiv data. Yes Bank's provisions and contingencies, net of recoveries made against loan accounts written off as bad, more than doubled to Rs 360 crore from Rs 175 crore a year earlier. The gross non-performing asset (NPA) ratio decreased to 2 per cent at the end of June from 2.20 per cent at the end of March, while its net NPA ratio rose slightly to 1 per cent from ...