Losses, mismanagement, failed strategies; how Credit Suisse reached crisis point
The crisis in Credit Suisse had been brewing since 2021, but the Swiss lender rattled investors on Tuesday by revealing that it had discovered "material weaknesses" in its 2021 and 2022 financial reports. On Wednesday, its stocks tumbled to an all-time low, stoking concerns over the overall heath of the banking sector, especially after the collapse of two banks in the U.S.
Axis Bank completes Citibank India's consumer business buyout for Rs 11,600 cr
Mumbai/IBNS: Axis Bank, India's fourth largest private sector bank, has acquired Citibank India's consumer business at Rs 11,603 crore.
Best Banks For Savings Accounts Services In India
In this article, let us look at the top 10 banks in India. A suitable savings account can help you save more money in the long run and invest them in the right avenues to grow your wealth in the future. Here are the top 10 banks in India ranked in order of the efficiency of their savings accounts:
Banks' balance sheet jumps in double digits after 7 years, says RBI report
Mumbai/IBNS: The balance sheet of Indian banks continued to improve in the financial year 2021-22 showing a double-digit growth after a span of seven years, the Reserve Bank of India (RBI) said in its annual report on the trend and progress of banking in India.
Pvt banks top PSBs in total credit share
New Delhi/IBNS: The private banks in the country have disbursed more credit than their state-owned peers in the second quarter ended September 2022, increasing their share to 38.4 percent from 37.5 a year ago, according to an RBI report.
Federal Bank reports record Net Profit of Rs 704 cr in Q2FY23, up 53 pc YoY
Private sector lender Federal Bank Friday announced a net profit of Rs 704 crore, its highest ever, in the quarter ended September 30, 2022, up 52.89 percent year-on-year (YoY) over Rs. 460.26 crore during the corresponding quarter of the previous year.
Axis Bank and PayNearby partner to launch bank accounts for last mile users at a nearby store
Axis Bank, India’s third largest private sector lender, has partnered with PayNearby, the country's largest branchless banking and digital service network, to offer the seamless opening of savings and current bank accounts for both last-mile retailers and customers, a joint press release by the companies said.
YES Bank and IBSFINtech tie up to provide enhanced digital services for corporate clients
YES Bank and TreasuryTech Solution provider IBSFINtech have partnered up to explore untapped opportunities emerging out of the digitization of corporate finance.
Hit by MTM losses banks may approach RBI for relief
Mumbai: The banks have again approached the RBI, seeking to be allowed to spread the provisions covering the marked-to-market losses citing the losses incurred in June, media reports said.
PNB Q3FY22 net profit jumps 123 pc, NII down by 6.1 pc YoY
Kolkata/IBNS: Public sector lender Punjab National Bank (PNB) Thursday reported a net profit of to Rs 1127 crore for the quarter ended December 2021, up 122.7 percent year-on-year.
Mumbai/IBNS: Private sector lender Bandhan Bank said its loans and advances grew 11 percent to Rs 89,213 crore in the quarter ending December 31 from Rs 80,255 crore in the year-ago period in an initial provisional disclosure for Q3FY22 filed to the exchanges on Tuesday.
SBI to not levy service charge on online IMPS transactions up to Rs 5 lakhs
Mumbai/IBNS: Public sector lender State Bank of India Tuesday said it would not levy any service charge on online Immediate Payment Service (IMPS) transactions up to Rs 5 lakh.
IndusInd Bank launches campaign to target the NRI segment
Mumbai/IBNS: IndusInd Bank today launched its ‘NRI Homecoming’ campaign to target potential NRI customers, who will be arriving in the country to meet their family and friends after more than a year of travel restrictions being imposed due to the pandemic.
Banks to remain closed from August 19 to 23 in many states
New Delhi/IBNS: Banks will remain closed for five days with several regional and national holidays along with weekly-offs.
PNB Q1FY22: Net profit jumps 232 pc to Rs 1,023 cr, NII zooms to Rs 7,227 cr
New Delhi/IBNS: Punjab National Bank reported a net profit of Rs 1,023 crore during Q1FY22, up 232.1 per cent from Rs 308 crore in Q1FY21.