{
}
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Punjab National Bank (PNB) reported a remarkable 145% year-on-year earnings growth, driven by a significant 92% decline in provisions and a 10% increase in operating profit, achieving a return on assets of 1.0% and return on equity of 14.7%. The bank's net non-performing loan ratio improved to approximately 0.46%, the lowest in a decade, supported by strong bad loan recoveries. Despite a decline in core pre-provision operating profit and net interest margins, the outlook remains positive, with a target price of Rs. 125 as profitability is expected to be bolstered by ongoing recoveries from the substantial bad loan pool of around Rs. 140,000 crore.
Bank stocks experienced a sharp decline on November 21, driven by a broad market sell-off and bribery allegations against Gautam Adani and his executives. Most banking stocks fell, with major public sector banks like State Bank of India and Bank of Baroda losing 4-8%, while private sector banks showed relatively better performance.Following the Hindenburg report in January 2023, several banks disclosed their exposure to the Adani Group, with Life Insurance Corporation reporting Rs 35,920 crore and State Bank of India revealing approximately Rs 27,000 crore in total exposure.
The UK’s ultra-wealthy are contemplating leaving the country following Chancellor Rachel Reeves' budget announcement, which ended the non-dom tax regime and expanded inheritance taxes to include worldwide assets. The budget also increased taxes on private equity executives and second homes, prompting concerns among the affluent.
Punjab National Bank reported a 13.4% YoY increase in standalone interest income to Rs. 29,875cr for Q2FY25, driven by strong growth in advances and bank funds. Despite a 17.8% rise in interest expenses, net profit surged 145.1% YoY to Rs. 4,303cr, prompting an upgrade to a BUY rating with a target price of Rs. 111. The bank aims to enhance profitability by increasing its RAM portfolio.
Howard Lutnick, an investment banker, has been appointed by President-elect Donald Trump to lead key agencies involved in the U.S.-China trade war, highlighting his significant ties to China. This move underscores the strategic importance of Lutnick's role in shaping trade relations between the two nations.
SBFC Finance reported strong performance in the September quarter, driven by robust asset growth and improved digital collections, capitalizing on the MSME credit growth cycle. The company achieved a record net profit in H1FY25, supported by consistent AUM growth despite a challenging environment. Valuations reflect a justified premium due to high growth prospects, with a stable loan book enhancing financial spreads.
The government is at odds with the Reserve Bank of India (RBI) over proposed regulations that would require banks to increase their reserves for infrastructure loans and digital retail deposits. Concerns have been raised that these higher provisioning requirements could hinder credit growth, especially as banks are already facing challenges in raising deposits.
Byju’s founder, Byju Raveendran, is accused of attempting to regain control of his bankrupt education technology firm by secretly using hidden loan proceeds to buy back a software company, Epic!, from US creditors owed over $1.2 billion. A court filing reveals that Raveendran enlisted Nebraska businessman William R. Hailer in this scheme, which ultimately failed. Hailer claims he was manipulated in Byju’s legal maneuvers and is set to testify in federal court regarding the sale of Epic! to benefit creditors.
A coalition of international organizations has launched guidelines to leverage open finance for enhancing digital financial services and promoting financial inclusion, particularly for the 1.4 billion people without basic transaction accounts. The initiative aims to democratize access to financial products while addressing potential risks related to data security and consumer protection. Key figures emphasize the importance of balancing innovation with adequate regulation to ensure the benefits of open finance are realized for all, especially marginalized groups and small businesses.
New open finance guidelines have been introduced to enhance financial inclusion. These measures aim to provide broader access to financial services, ensuring that underserved populations can benefit from improved financial opportunities and resources. The initiative is expected to foster innovation and competition within the financial sector.
Banking Regulations
SubCategory
06:18 21.11.2024
Indian Rupee
United States Dollar
The Federal Bank Limited
IndusInd Bank Limited
Axis Bank Limited
Bank of Baroda Limited
IDFC First Bank Limited
Canara Bank
Bank of India Limited
IDBI Bank Limited
HDFC Bank Limited
REC Limited
Union Bank of India
Central Bank of India
State Bank of India
Punjab National Bank
IND
Gautam Adani
Show more
06:12 21.11.2024
06:00 21.11.2024
05:41 21.11.2024
05:00 21.11.2024
04:31 21.11.2024
04:11 21.11.2024
03:23 21.11.2024
United States Dollar
World Bank
Bank for International Settlements
Ajay Banga
Agustín Carstens
Kristalina Georgieva
Queen Máxima of the Netherlands
Show more
22:11 20.11.2024
22:08 20.11.2024
Trending
Subcategory:
Cryptocurrency Markets
Cryptocurrency Trends
Market Sentiment Analysis
Stock Market Updates
Central Bank Actions
Decentralized Finance (DeFi) Innovations
Market Analysis and Predictions
Tokenomics and Crypto Economics
Cryptocurrency & Blockchain Regulations
Inflation Rates & CPI Data
Employment Reports
Corporate Responsibility & ESG
Anti-Money Laundering (AML) Regulations
Banking Regulations
Hedge Funds & Private Equity
ESG & Sustainable Finance Regulations
Cryptocurrency Regulations
Anti-Money Laundering (AML) & Know Your Customer
Blockchain Technology Adoption
Banking & Investment Regulations
Countries:
Companies:
Currencies:
People:
Ethereum USD
Apple Inc.
Solana USD
Ripple USD USD
Coinbase Global, Inc.
Bitcoin USD
BlackRock, Inc.
Bitwise Bitcoin ETF
Taiwan Semiconductor Manufacturing Co Ltd
Heritage Distilling Holding Company, Inc.
NVIDIA Corporation
Robinhood Markets, Inc.
JPMorgan Chase & Co.
MARATHON DIGITAL
Santiment Network Token USD
MicroStrategy Inc
End Federal Reserve USD
ai16z USD
Broadcom Inc.
Amazon.com, Inc.
United States Dollar
Armenian Dram
Vietnamese Đồng
British Pound Sterling
Euro
Canadian Dollar
New Zealand Dollar
Australian Dollar
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.