India Inc’s dividend outgo hit a record Rs 3.3 trillion in FY22, translating into a payout ratio of 37.6%. The sharp rise in payouts was largely because state-owned banks resumed distributing dividends after a gap of six years and other CPSEs and top IT players too became more generous with payouts on improved profitability. Top […]
The Securities and Exchange Board of India (India) announced on Wednesday that Ashwani Bhatia – former managing director at the State Bank of India (SBI) – had taken charge as a whole-time member (WTM) on Tuesday. For the last seven months, the regulator had operated with only two whole-time members, S K Mohanty and Anant […]
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 […]