Navi Technologies, which owns and operates Chaitanya India Fin Credit, said on Tuesday that it would engage with the RBI to understand the reasons behind the rejection of its application for an on-tap universal banking licence. The management of the fintech will also consider if an appeal route needs to be pursued, Sachin Bansal, promoter […]
While net profits for lenders may have seen a big jump in FY22, the growth in operating profits or pre-provisioning profits (PPP) was modest. The bottom line was driven up by a big drop in provisions, data collated from Capitaline show. Total advances went up smartly over the previous year – the increase was 16.7% […]
State Bank of India (SBI) on Friday reported a 41% year-on-year (y-o-y) rise in its fourth quarter net profit to Rs 9,113.53 crore, as improving asset quality helped the lender cut down on provisions. Growth in core income also supported the bank’s quarterly performance. Net interest income (NII), or the difference between interest earned and […]
RBL Bank on Thursday said it is close to tying up tier-II funding worth $100 million in the next few days. The fund-raise will improve the bank’s capital ratio by approximately 1%. The lender’s capital to risk-weighted assets ratio (CRAR) stood at 16.8% as on March 31, 2022, down from 17.5% a year ago. The […]