A healthy 37 percent rise in private banks' net profit in the June quarter

-


Mumbai: In the first quarter of the current financial year, the net profit of the private banks of the country has increased by 37 percent year-on-year to Rs 37683 crore. This has been possible due to Net Interest Income (NII) and strong credit growth.

The NII of private banks has increased by 26.40 percent to Rs 80,404 crore from the results of fifteen listed banks announced so far. Interest income has increased due to increase in lending rates.

In the last financial year, the Reserve Bank has increased the interest rate by 2.50 percent to 6.50 percent. Apart from this, loans have also seen a year-on-year increase of 16 percent in the June quarter. Banks have also benefited from the repricing of loans that have been repaid earlier.

Along with the increase in lending rates, banks have been forced to increase deposit rates as well. A 13.20 percent increase in deposits has been seen in the June quarter. Lenders have been forced to increase interest rates on deposits to increase liquidity.

Income through fees, commissions and government securities also increased by 39.40 percent to Rs 29653 crore. A research report said that due to the increase in loan withdrawals, there has been an increase in income through fees.

The volume of new NPAs of banks also remained under control in the June quarter. This has been made possible due to the favorable business environment apart from the banks' special focus on loans. The gross non-performing assets of the banks under review, which were a total of Rs 1.74 lakh crore in the June quarter of last financial year, have seen a decline of 32.10 per cent to Rs 1.18 lakh crore. 29.80 percent decrease in net NPA has also been seen.

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