India's largest private lender HDFC Bank on Wednesday reported a 2.2 per cent rise in its net profit for Q3 this fiscal, as its gross non-performing assets (NPA) ratio rose during the quarter.
The gross non-performing asset (NPA) ratio for scheduled commercial banks (SCBs) have improved significantly with a reduction to 2.67 per cent in June 2024 from 11.18 per cent in March 2018, according to the government.
State Bank of India (SBI) on Saturday reported a standalone net profit of Rs 17,035 crore for the April-June quarter of 2024-25 which was a mere 0.9 per cent increase over the corresponding figure of Rs 16,884.3 crore for the same quarter of the previous year.
Axis Bank on Wednesday reported a net profit of Rs 7,130 crore for the January-March quarter of 2023-24 compared to a loss of Rs 5,762 crore in the same quarter last year after it acquired Citi Bank's consumer business in India.
All the participating public sector banks (PSBs) cited a reduction while 67 per cent of the private sector banks also reported a decrease.
This is already playing out over the last two and a half years, as the NIM has already expanded from 1.84 percent pre-merger to 5.09 percent in Q4 FY 21 and further to 5.51 percent in Q1 FY 22.
The PCA comes after the RBI carried out an on-site inspection of the Bank on March 31 under Risk-Based Supervision.
DHFL's BSE filing on September 12, reported default of Rs 196.65 crore towards Rs 350-crore worth of NCDs issued by it.
Those charged by SFIO include former IL&FS Vice Chairman Hari Sankaran and former IFIN MD Ramesh Bawa, both of whom are under arrest.
PNB slipped back into losses during the quarter in consideration after coming back into the black in the previous quarter ending December.
