FEDERAL BANK Q4
Canara Bank, Federal Bank among 11 counters that witnessed decrease in NPAs in Q4
A debt that has been past due and unpaid for a predetermined period is known as a non-performing asset (NPA). According to Trendlyne Data, Canara Bank, Bandhan Bank, Punjab & Sind Bank, and Federal Bank are the top banks that witnessed a decrease in NPA in Q4FY24. Here's a list:
ICICI Bank, SBI among Nomura’s 4 preferred banking stocks ahead of Q1 results
Global brokerage firm Nomura predicts significant growth disparities in the banking sector, favoring ICICI Bank, SBI, Kotak Mahindra Bank, and Federal Bank.
Results play! Earnings growth to moderate for banks in Q1. Which stocks to buy?
Indian banks are forecasted to experience softer growth in the June quarter, with 14-16% earnings growth YoY. Motilal Oswal predicts NII growth for HDFC Bank by 28%, ICICI Bank by 7%, and Kotak by 15%. Axis Securities sees public sector lenders growing 11% YoY. Asset quality remains steady.
AU Small Finance Bank shares tumble over 4% as total deposits decline QoQ
AU Small Finance Bank's shares declined by 4.25% to Rs 644 on the BSE following a slight 0.4% QoQ decrease in total deposits, totaling Rs 97,290 crore for Q1 ended June 2024. Conversely, CASA deposits rose by 1.8% QoQ, reaching Rs 32,034 crore in Q1 FY25 from Rs 31,456 crore in the previous quarter.
HDFC Bank shares fall 4% as Q1 update disappoints investors
HDFC Bank shares, previously rising due to potential MSCI weightage increase, fell over 4% on Friday to Rs 1,665.55 on BSE. This decline followed a sharp drop in CASA ratio in its June quarter update. Deposit growth was soft at 15.3% YoY (pro-forma), flat sequentially, with CASA declining 5% QoQ, lowering CASA ratio by 190 bps to 36%
RBL Bank shares tumble 4% after Q1 update disappoints
RBL Bank's shares fell 4.2% after its June quarter update showed a 2% QoQ drop in deposits to Rs 1.01 lakh crore, despite an 18% YoY rise.
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Independence Day 2024 in US: Will banks, post offices, FedEx stay open on July 4?
July 4th is celebrated as the Independence Day in US, which is a federal holiday, meaning various services will stay shut for the entire day. However, a few selected services may stay open for those people who want to still run their errands on this holiday occasion of Independence Day.
Federal Bank leads in loan expansion among Kerala banks in Q1
Federal Bank reported a 20% year-on-year rise in gross loan portfolio to Rs 2.24 lakh crore at the end of June. Fairfax-backed CSB Bank clocked a 17.8% rise in gross loans to Rs 25,099 crore while South India Bank's loan portfolio rose 11.4% to Rs 82,510 crore.
Federal Bank shares up 4% after deposits surge 20% YoY
Federal Bank's stock skyrockets to an all-time high of Rs 183.25 in June 2024, driven by impressive growth in customer deposits, credit books, and CASA numbers. The bank's stock performance continues to soar, surpassing exponential moving averages, as per Trendlyne data.
YES Bank Q1 Update: Advances rise 15% YoY to Rs 2.29 lakh cr, deposits grow 21%
The bank's credit-to-deposit ratio for the first quarter was 86.4%, down from 91.3% in the same quarter last year. During the April-June 2024 period, the liquidity coverage ratio improved to 137.8%.
Q4 results: Stable costs boost India Inc. profits
Steady costs and firm domestic demand supported corporate performance in the March quarter.
Banks report higher NPA provisioning in Q4
For the 12 public sector banks (PSBs) in the sample, the aggregate provisioning for non-performing assets (NPA) fell by a tad 0.7% year-on-year to Rs 15,157.8 crore.
India's GDP grows 7.8 per cent in Q4, FY24 growth pegged at 8.2 per cent
India Q4 GDP: The analysts were anticipating a better-than-expected growth for the January to March quarter this time around. The Reserve Bank of India (RBI) estimated Q4FY24 real GDP growth to be 7 per cent while ET Poll suggested the growth rate of 6.8 per cent. As per a Reuters poll, the Indian economy was expected to grow at 6.7 per cent in the January-March quarter on a year-on-year basis, owing to weak demand.
India's growth outlook: Economy to get a blockbuster release this Friday? But that's too late to stream in poll campaigns
GDP Q4: As the country buzzes with election excitement, India is set to release its GDP growth numbers for the fourth quarter of FY24 this Friday, alongside the full fiscal year figures. Analysts are eagerly awaiting to see if the January to March quarter numbers surpass expectations, fueling hopes of a surprising uptick in growth.
Indian economy grew 7.4% in Q4 FY24; 8% in FY24: SBI Research
The International Monetary Fund (IMF) in its April 2024 World Economic Outlook (WEO) raised the global growth forecast for 2024 to 3.2 per cent, an improvement from its earlier projections. Global headline inflation is expected to decline from an annual average of 6.8 per cent in 2023 to 5.9 per cent in 2024, and further to 4.5 per cent in 2025, according to IMF estimates.
Karnataka Bank Q4 Results: Net profits dips 23% YoY to Rs 274 crore, dividend declared at Rs 5.5 per share
Its net interest margin, a key profitability metric, fell 57 basis points to 3.3% for the quarter as compared with 3.87% seen in the year-ago period. Net interest income was 3% lower at Rs 834 crore.
Paytm Q4 Results: Loss widens to Rs 550 crore; revenue drops 3% YoY
Paytm Q4 Results: The fintech major's March quarter results were impacted by temporary disruptions on account of the UPI transition and permanent disruption because of the payments bank embargo. The company said Payment Bank's products like Paytm wallet and FASTag were distributed but due to the current embargo, it anticipates a steady state of an annualised direct impact on EBITDA to be around Rs 500 crore.
Paytm among worst performing fintech stocks as earnings loom
Emkay Global’s analyst Anand Dama expects a further 16% correction, arguing that the fourth quarter results “won’t capture the full extent of business disruptions caused due to the drop in UPI and bill payment market share.”
City Union Bank Q4 Results: Net profit jumps 17% YoY to Rs 254.81 crore
Private sector City Union Bank has reported a 17 per cent jump in its net profits at Rs 254.81 crore for the January-March 31, 2024 quarter, based on improved recovery from slippages.
Bandhan Bank Q4 Results: Net profit slumps 93% YoY to Rs 55 crore
Sharply higher provisioning dragged Bandhan Bank's March quarter net profit down by 93% at Rs 55 crore against Rs 808 crore in the year-ago period.
Bandhan Bank Q4 Results: Lender posts PAT at Rs 55 crore on higher provisions; NII at Rs 5,189 crore
The fall in profit after tax (PAT) could be attributed to higher provisions reported in Q4FY24 at Rs 1,774 crore compared to Rs 735 crore in Q4 FY23.
Karur Vysya Bank Q4 Results: Net profit jumps 35% YoY to Rs 456 crore
The bank's net interest income for the quarter improved 11.5% to Rs 996 crore while other income was 57% higher at Rs 629 crore. The net interest margin for the quarter, however, was at 4.19%, down 18 basis points from 4.37% a year ago.
Punjab & Sind Bank Q4 Results: Net profit slumps 70% YoY to Rs 139 crore
The total income increased to Rs 2,894 crore during the quarter under review against Rs 2,652 crore in the same period last year, Punjab & Sind Bank said in a regulatory filing.
Bank of Baroda Q4 Results: PAT rises 2% YoY to Rs 4,886 crore; dividend declared at Rs 7.6/share
Bank of Baroda Q4 Results: The board also recommended a dividend of Rs 7.60 per equity share for FY2023-24
Capital Small Finance Bank Q4 Results: Lender reports net profit at Rs 28.2 crore
Capital Small Finance Bank on Thursday reported Rs 28.2 crore net profit for the March quarter against Rs 24.3 crore in the year-ago period, riding on lower provisions and contingencies.
Suryoday Small Finance Bank Q4 Results: Net profit soars 56% YoY to Rs 61 crore
The bank's net interest margin for the quarter was 10.1% against 10.4% in the same quarter last year, although it rose sequentially from 9.8%. Operating profit was 25.5% higher at Rs 128 crore against Rs 102 crore. Provisions and contingencies were a ltad lower at Rs 48 crore against Rs 51.5 crore.
Indian Overseas Bank Q4 Results: Net profit zooms 24% YoY to Rs 808 crore
Chennai-based Indian Overseas Bank reported a 24% increase in net profit for the quarter ended March 2024 on higher interest income. Net profit for the quarter was Rs 808 crore as against Rs 650 crore for the quarter ended 31st March 2023.
Canara Bank Q4 Results: Profit jumps 18% YoY to Rs 3,757 crore; NII rises 11%
Canara Bank Q4 Results: The company's Board has also recommended a dividend of Rs 16.10 per share, 161% of face value each, for the financial year 2023-24
Federal Bank Q4 Results: Net profit flat at Rs 906 crore
The bank's operating profit for the quarter was lower at Rs 1110 crore due to 41% higher operational expenses including Rs 162 crore one-time pension-related staff cost, offsetting 15% higher net interest income at Rs 2195 crore, its highest ever.
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