Mumbai May 8 (Agency) : Canara Bank on Wednesday reported an 18.4 per cent rise in its net profit to Rs 3,757.23 crore for the January-March quarter of 2023-24 compared to the same period of the previous year.
On a sequential basis, the bank’s net profit rose 2.8 per cent over the October-December quarter.
Canara Bank’s board of directors has recommended a dividend of Rs 16.10/- per equity share (161 per cent) of face value of Rs 10 per share.
Canara Bank’s net interest income (NII) rose 11 per cent to Rs 9,580 crore during the fourth quarter.
The asset quality of the bank also improved during the quarter with gross non-performing asset (NPA) ratio declining to 4.23 percent of total…
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Author: newsworm
ICICI Bank shares this important cricket lesson with customers
ICICI Bank has issued an important warning about fake UPI payment messages. The bank has shared the message via the social media platform X (formerly Twitter) along with a short video explaining the fake UPI payment scams and how to stay protected.“If a caller pretends to overthrow — A UPI payment; Don’t start running in a hurry,” mentions the video. “It might be a trick to get you Run Out,” the video further adds. Apart from this, the video advises users to “Just stay put and protect your wicket”, and “Don’t be in a hurry to return the money”, says the video. Additionally, the post from ICICI Bank asks customers to remain vigilant about such scams and also provides…
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Karnataka Bank stocks: Buy Karnataka Bank, target price Rs 298: Anand Rathi
Anand Rathi has buy call on Karnataka Bank with a target price of Rs 298. The current market price of Karnataka Bank Ltd. is Rs 217.3.Karnataka Bank Ltd., incorporated in the year 1924, is a banking company (having a market cap of Rs 8171.23 Crore). Karnataka Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2023. Financials For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 2619.97 Crore, up 7.43 % from last quarter Total Income of Rs 2438.68 Crore and up 10.80 % from last year same…
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F&O Ban List: Zee, PNB among 8 stocks under trade ban on Thursday
Eight stocks are under F&O trade ban on Thursday viz. Aditya Birla Fashion and Retail (ABFRL), Balrampur Chini, Biocon, GMR Airports and Infrastructure, Vodafone Idea, Punjab National Bank (PNB), Steel Authority of India (SAIL) and Zee Entertainment Enterprises.The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.Traders who trade in index do not encounter a situation of security ban.The MWPL for ABFRL stood at 83.5% on Wednesday with OI reported by Trendlyne at 38.6 million. It was down 1.4% from the previous…
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Fairfax Group Sells Major Stake in CSB Bank for Rs 595 Crore
In a significant financial maneuver, Canadian billionaire Prem Watsa’s Fairfax Group divested a substantial 9.7 per cent stake in CSB Bank, equating to Rs 595 crore, through an open market transaction on Thursday. The transaction saw FIH Mauritius Investments, a key arm of the Toronto-based Fairfax Group, offloading over 1.68 crore shares in a block deal on the National Stock Exchange (NSE).As the official promoter of the Thrissur-based CSB Bank, FIH Mauritius Investments’ sale of 1,68,68,645 shares, priced at an average of Rs 352.75 each, not only amounted to a sizable monetary exchange but also adjusted their ownership stake from 49.72 per cent to 40 per cent.The shares were snapped…
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Indian Bank Q1 Results: Net profit rises 41% YoY to Rs 1,709 crore – The Economic Times
Indian Bank Q1 Results: Net profit rises 41% YoY to Rs 1,709 crore The Economic Times
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Times Prime and HDFC Diners Club Roll Out the Purple Carpet for Sci-Fi Epic ‘Kalki 2898 AD’
ANI |
Updated: Jun 28, 2024 18:08 IST
NewsVoirNew Delhi [India], June 28: Times Prime, India’s premier lifestyle membership program, partnered with HDFC Diners Club to offer an exclusive cinematic experience for their esteemed members. The collaboration brought Times Prime’s signature “Purple Carpet” event to life, featuring a special screening of the year’s most anticipated film, “Kalki 2898 AD”.The star-studded sci-fi spectacle, featuring Prabhas, Kamal Haasan, and Deepika Padukone, was showcased at Cinepolis theatres in Mumbai, Delhi, and Bangalore. This exclusive “Club…
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Bandhan Bank starts online collection of direct taxes | Indiablooms
Kolkata: Bandhan Bank today announced that it has launched the facility to collect direct taxes online from its customers and non-customers across India. The bank is now live for collection of Direct Taxes through TIN 2.0 platform of Income Tax, according to a press release. As an Agency Bank appointed by the RBI, Bandhan Bank also accepts offline payments of direct taxes through over 1700 bank branches. Under this licence, Bandhan Bank customers can now pay their Direct Taxes in a fast, seamless and convenient manner through the Bank’s Retail Internet Banking, Corporate Internet Banking and Payment Gateway (Debit Card, Credit Card and Internet Banking). They can also pay taxes…
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Experts Top Stock Analysis & Share Price Targets: HDFC AMC, ICICI Bank, Axis Bank, LIC Housing, Wockhardt, L&T Finance, Mazagon Dock, Mahindra & Mahindra – MSN
Experts Top Stock Analysis & Share Price Targets: HDFC AMC, ICICI Bank, Axis Bank, LIC Housing, Wockhardt, L&T Finance, Mazagon Dock, Mahindra & Mahindra MSN
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Indian Overseas Bank targets 3.25-3.30% net interest margin in FY25
Despite challenges from rising budget costs, Indian Overseas Bank (IOB) intends to maintain its margins around 3.25% to 3.30% going forward. The bank also plans to reduce gross non-performing assets (NPA) by 100 basis points (bps) to 2.10% by FY25, with net NPA targeted at 0.25-0.30%.In an interview with CNBC-TV18, Ajay Kumar Srivastava, Chief Managing Director & CEO of Indian Overseas Bank, highlighted the bank’s strategy to maintain margins and reduce NPA while growing loans at a mid-teen rate.In further discussion regarding net interest margins (NIMs), Srivastava mentioned that the bank raised interest income while simultaneously decreasing expenses on interest paid by managing its…
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