Quarterly profits of banks jump from 31 to 115 percent

-


- Inflation, even amid tough periods of sharp rise in interest rates

- 34% jump in ICICI Bank's net profit, 31% jump in KOTAK Bank's net profit, 117% jump in IDFC FIRST Bank's profit: 80% gap in YES Bank's profit

Mumbai: The Indian banking sector has been performing brilliantly with high credit growth and reduction in NPAs despite the challenging times of inflation and consequent rise in interest rates. In the third quarter ended December 31, 2022, among the PSU banks, after the good performance of the banks, now the private banks have reported strong performance by presenting encouraging results. In the results of private banks announced today, the net profit of the banks has registered a huge jump from 31 percent to 117 percent. Along with this, the bad loan position of banks i.e. asset quality has also been seen to improve. Banks' NPAs have seen a decline. Thus the performance of all the private banks has been strong except for the exceptional Yes Bank.

Banking giant ICICI Bank announced today that its net profit for the third quarter ended December 31, 2022 has increased by 34.2 percent to Rs.8312 crore compared to the same period last year. While the net interest income has increased by 34.6 percent to Rs.16,465 crore. The bank has achieved a net interest margin of 4.65 percent from 3.96 percent. The bank's net non-performing assets (NPAs) have declined to 0.55 percent from 0.61 percent.

Kotak Mahindra Bank gave an all-round best performance and achieved a 31 percent increase in net profit to Rs.2792 crore and a 30 percent increase in net interest income to Rs.5653 crore in the third quarter. The bank's operating profit increased by 43 percent to Rs.3850 crore. Private sector emerging bank IDFC First Bank Limited has also achieved fantastic results for the third quarter ended December 31, 2022. The net profit of the bank has increased by 115 percent to Rs.605 crore compared to Rs.281 crore in the same period last year. Net interest income of the bank has increased by 27 percent to Rs.3285 crore compared to Rs.2580 crore.

Yes Bank has announced exceptionally weak results for the third quarter ended December 31, 2022. The net profit of the bank has decreased by 80.66 percent to Rs.51.5 crore compared to Rs.266.43 crore in the same period last year. The net interest income of the bank has increased by 11.7 percent to Rs.1970.6 crore as compared to Rs.1764 crore. The total NPA has decreased to 2 percent as compared to 14.7 percent in the same period last year. While net NPA has decreased to 1 percent compared to 5.3 percent.


Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se
Read more