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State Bank of India reported record profits driven by its digital banking platform, YONO, despite a relatively small digital user base. While YONO contributes significantly to loan disbursements and transactions, SBI faces challenges in converting its vast legacy customer base to digital platforms. Experts suggest optimizing digital adoption and phasing out underutilized physical infrastructure to enhance efficiency and market valuation.from Business News: Budget 2025, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7RH4Ple
Japan's economy contracted by 0.7% in the first quarter, impacted by weak domestic demand and declining exports, even before the full effect of US tariffs. Analysts warn that the situation could worsen, potentially leading to calls for increased fiscal spending. The Bank of Japan faces pressure to hold back on further interest rate hikes amid fears of a global slowdown.
Gold surged in FY25, gaining 41% in USD and 33% in rupee terms, driven by its safe-haven status and central bank buying. Despite this, Indian equities outperformed gold over longer periods.
IndusInd Bank faced scrutiny for wrongly booking Rs 674 crore in interest income. The bank reversed the amount after a whistleblower complaint. Internal audits revealed the accounting errors. CEO Sumant Kathpalia and deputy CEO Arun Khurana resigned. The Reserve Bank of India had earlier extended Kathpalia's term by only a year. The bank initiated corrective measures following the report.
Indian banks are poised for increased loan growth, fueled by improved profitability and reduced provisions. Major banks like SBI and HDFC Bank reported net income growth, with loan books expanding. Public Sector Banks (PSBs) achieved record profits, reflecting better asset quality and increased shareholder dividends, signaling a robust banking sector.
A Union Bank of India report indicates that rising metal prices may counteract the recent decline in wholesale inflation, despite a drop to a 13-month low in April 2025. While global metal indices show a softer trend, domestic metal prices, particularly iron and steel, are increasing.
Top stock market recommendations: Nuvama Professional Clients Group's Aakash K Hindocha suggests a positive outlook for Nifty and Bank Nifty, setting targets at 24900/25400 and a range of 54500-55900, respectively. Havells, Adani Energy Solutions, and HCL Technologies are top buy recommendations.
Stock market recommendations: Mirae Asset Sharekhan's Somil Mehta recommends buying CDSL and Indian Bank. CDSL, with a buy range of Rs 1290-1270, targets Rs 1378, having broken a downward trend. Indian Bank, buy range Rs 570-580, aims for Rs 615, supported by its 40-day moving average.
Punjab National Bank (PNB) aims to increase lending to the Retail, Agriculture, and MSME (RAM) sectors to 58% of its total loan book in FY26, up from 56% in FY25. This strategic shift is designed to mitigate margin pressures from interest rate cuts in corporate and repo-linked lending.
Yes Bank's shares surged following Sumitomo Mitsui Banking Corporation's agreement to acquire a 20% stake for Rs 13,483 crore. This significant deal, five years after Yes Bank's rescue, involves SBI and other private banks offloading portions of their holdings. SMBC's strategic move signals a major expansion in the Indian market, potentially leading to majority control in the future.
Faced with deposit growth challenges, Canara Bank launched an internal campaign, tasking its 82,000 employees to mobilize deposits. This initiative, started in January 2024, resulted in the collection of Rs 16,700 crore in just ten weeks. The employee-led drive lowered the bank's credit-deposit ratio and reduced reliance on high-cost bulk deposits.
Bank of India's net profit soared 82% to Rs 2,626 crore in Q4 2025, fueled by treasury gains and recoveries from written-off accounts. The bank targets 12-13% loan growth and 11-12% deposit growth for fiscal year 2025-26, despite a NIM decrease. The bank is also focusing on cybersecurity and ATM cash availability, in line with regulatory guidelines.
Union Bank of India witnessed a significant 50% surge in net profit, reaching ₹4,985 crore for the March quarter, fueled by increased non-interest income and reduced provisions. However, the bank anticipates pressure on net interest margins due to potential rate cuts by the RBI. While loan growth fell short of targets at 8.
Indus Waters Treaty: Amidst escalating tensions following the Pahalgam attack, India has suspended the Indus Waters Treaty, prompting Pakistan to consider international legal action. The World Bank has clarified its limited role as a facilitator in the dispute over the Indus River's water resources.
Analysts have adjusted their outlook on several companies. Investec lowered Punjab National Bank's target due to weak margins, while Morgan Stanley remains cautious on Dabur due to margin erosion and weak domestic revenue. Conversely, Citi is optimistic about MGL, raising its target price.
