IDFC First Bank and IDFC Limited have received board approval for their merger, adopting a 155:100 share exchange ratio. The move aims to simplify the corporate structure, streamline regulatory compliance, and enhance shareholder value. Post-merger, the standalone book value per share of IDFC First Bank is set to increase by 4.9%, according to audited financials … Read more
Dhanlaxmi Bank’s stock continues its remarkable ascent, gaining 5% in intraday trade and reaching ₹53.75 apiece, the highest level since August 2014. Over the last 10 trading sessions, the stock has shown an impressive return of 69%. Explore the reasons behind this surge and the key highlights from the bank’s Q3FY24 business update. Stock Performance: … Read more
Punjab National Bank (PNB) is set to bolster its financial position as the board of directors greenlights a strategic move to raise ₹7,500 crore through Qualified Institutions Placement (QIP) or Follow-on Public Offer (FPO) during the fiscal year 2024-25. This significant decision aims to enhance the bank’s capital base and support its growth initiatives. Here … Read more
Private lender ICICI Bank Ltd has reported a robust standalone net profit of ₹10,271.54 crore for the December quarter, showcasing a significant 23.57% YoY growth. The bank’s Q3 results also reveal noteworthy improvements in provisions, net interest income (NII), and various business segments. Here are the key takeaways from ICICI Bank’s Q3FY24 performance. Financial Highlights: … Read more
In a significant development for HDFC Bank, the Reserve Bank of India (RBI) has granted approval to Life Insurance Corporation of India (LIC) to increase its stake in the bank. This move has already impacted HDFC Bank’s share prices positively, with a 2% gain after the announcement. LIC, holding a 5.19% stake at the end … Read more
In the third quarter of FY24, HDFC Bank, India’s largest private sector lender, delivered a stellar financial performance with a notable 33% year-on-year growth in net profit, reaching ₹16,372 crore. The bank’s robust net interest income (NII), which increased by 24% YoY to ₹28,470 crore, underscored its resilient core operations. The management’s post-earnings call revealed key insights into the bank’s strategies and future plans.