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7:10 AM
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HDFC Bank's board has approved a Rs 12,500 crore IPO for its subsidiary, HDB Financial Services, featuring a mix of fresh issues and offers for sale. The IPO includes Rs 10,000 crore in offer for sale and Rs 2,500 crore in fresh issuance. The move aims to comply with RBI regulations requiring NBFCs to go public by Sept 2025.
4:10 AM
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Kotak Mahindra Bank's net profit increased by 4.8% YoY to Rs 3,344 crore in Q2FY25 but decreased by 5% QoQ due to a one-time gain in the previous quarter. Gross deposits increased by 15.1% YoY, while gross advances grew by 17.4% YoY. Provisions rose to Rs 660 crore from Rs 366 crore YoY.
3:10 AM
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HDFC Bank's standalone net profit for Q2FY25 increased by 5% to Rs 16,821 crore, with total deposits rising by 15.06% YoY to Rs 25,00,100 crore. The bank's total income for the quarter reached Rs 85,500 crore, up from Rs 78,406 crore a year ago. Gross NPAs slightly increased to 1.36%, while net NPAs rose to 0.41%.
7:10 PM
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State-owned UCO Bank reports a 50% rise in net profit to Rs 603 crore in the September quarter, driven by higher interest income. Gross NPAs reduced to 3.18%, and net NPAs fell to 0.73%. The bank anticipates 12-14% credit growth for the financial year.
7:10 PM
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RBL Bank reported a 24% decline in net profit to Rs 223 crore in the September quarter, mainly due to asset quality challenges in its credit card and microlending books. The bank expects credit card challenges to stabilize by Q3, while microfinance issues may persist longer.
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