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Canara Bank MD & CEO says: “We are focussed on the credit cost by reducing the slippages and maintaining the quality of the recoveries. All these things are helping us to maintain NIM at just above 3%. But the next quarter again, our NIM will be between 2.9% and 3%, but our efforts will continue to be nearer to that 3%.”
Ujjivan Small Finance Bank on Wednesday reported a mere 2.4% year-on-year rise in net profit at Rs 300 crore for the quarter to December 30, 2023 on account of higher provisions while the bank's operating profit rose 17.5% at Rs 457 crore supported by a steady expansion of core income.
Despite decent growth, investors are concerned due to Axis Bank’s apprehensions about credit and deposit growth. The lender foresees a slowdown in credit growth and limitations on deposit expansion
Get ready, the weekend is almost here and it brings with it the Way it Was Rodeo and Steampunk Ball to Virginia City, the Air Races to Reno, and the annual Edible Pedal bike ride through Washoe Valley. Before the weekend carries you away, enjoy our beautiful valley. Take in the views with Muscle Powered as they hike along Conestoga.
Kotak Mahindra Bank reported 8% YoY growth in net profit to Rs 3,005 crore for Q3 2023, due to provisioning towards alternative investment funds and loss in the fixed income book. Net interest income rose nearly 16% YoY to Rs 6,553 crore. The gross non-performing assets ratio was 1.73%, and slippages increased to Rs 1,177 crore. The net non-performing assets ratio was 0.34%. Total advances were at Rs 3.72 lakh crore, driven by growth in retail micro finance and credit cards. The bank plans to raise funds and re-appoint Uday Shankar as independent director. For the nine months ended December, net profit rose 30% to Rs 9,648 crore.
The November meeting of the Carson City Republican Women's Club will be held on Tuesday, Nov. 20 at the Carson Nugget. Guest speaker Jason Woodbury will speak on the subject of the Constitution and grand juries.