Page 6 - Banking Finance June 2022

BANK UPDATE

Central Bank along with a clutch of The country's largest private sector Its net loan portfolio registered a
other lenders was placed under RBI's lender HDFC Bank reported a 23% growth of 13.26 per cent to Rs
prompt corrective action (PCA) in 2017 jump in standalone net profit to Rs. 1,17,619 crore from Rs 1,03,851 crore
after the regulator found some state- 10,055.20 crore for the March quar- last year.
run lenders were in breach of its rules ter, led by growth in loan demand
In the current financial year (fiscal
on regulatory capital, bad loans and across categories and lower provision-
2023), the bank is targeting a 12 per-
leverage ratios. ing as bad loans were trimmed.
cent growth in loan, its Managing Di-
rector Harsha Bangari told.
Ravi Mittal is IBBI chief SBM Bank India raises Rs.
Non-fund portfolio rose by 7.15 per
Ravi Mittal took charge as chairperson
125 crore via bonds cent to Rs 15,247 crore from Rs 14,229
of the Insolvency and Bankruptcy
crore in FY2021.
SBM Bank India, a wholly-owned sub-
Board of India (IBBI). IBBI is a key in-
stitution in implementing the Insol- sidiary of State Bank of Mauritius, an- Its total business grew by 5.69 percent
vency and Bankruptcy Code (IBC). nounced that it has raised Rs 125 crore to Rs 2,51,246 crore as against Rs
through sales of bonds. 2,37,714 crore in FY21.
"Prior to joining the IBBI as chairper-
son, he superannuated from the posi- The bank raised money by issuing Bangari said the bank was able to
tion of Secretary, Department of Basel-III compliant Tier-II bonds having halve its gross non-performing assets
Sports, Ministry of Youth Affairs and maturity period of 10 years, it said in (NPAs) to 3.56 percent in the fiscal
Sports," IBBI said in a release. a statement. ended March 31, 2022. Its slippage
ratio reduced by 128 basis points to
He had also served as secretary, Min- Additionally, it also raised Rs 300 crore
0.24 per cent in FY22 from 1.52 per-
istry of Information & Broadcasting through an automatic refinance facil-
cent in FY21.
and Special Secretary, Department of
ity of the National Bank for Agriculture
Financial Services, Ministry of Finance,
and Rural Development (NABARD), it
among other positions. PAN must for cash with-
said.
A 1986-batch IAS officer of Bihar drawal, deposit of Rs. 20
The fresh funds will be deployed for
cadre, Mittal holds degrees of B.E. in
expansion plans, the statement said. lakh or more a year
Mechanical Engineering and M.Phil. in
SBM Bank India is leveraging on its The government has made it manda-
Environmental Science. Mittal is the
second full-time chairperson of IBBI. position as a universal bank to tie up tory to quote either PAN or Aadhaar
with fintech firms for extending ser- for depositing or withdrawing over
HDFC Bank declares vices, which helps it with fees income Rs.20 lakh in a financial year. The Cen-
and data mining, it said. tral Board of Direct Taxes (CBDT), in a
1550% dividend for share-
notification, said furnishing the Perma-
holders nent Account Number or biometric
Exim Bank profit jumps 3-
Aadhaar will be mandatory for such
HDFC Bank declared a 1,550%, or
fold in FY22
15.50 per share dividend, to its share- high-value deposits or withdrawals
holders for the financial year 2021-22. Export Import Bank of India (EXIM from banks in a financial year, or open-
Bank) reported a nearly threefold ing of a current account or cash credit
The board, at its meeting, has recom-
jump in its profit after tax (PAT) to Rs account with a bank or post office.
mended a dividend of Rs. 15.50 per
738 crore in the fiscal ended in March
equity share of Rs. 1 [1,550%] out of
2022 compared to Rs 254 crore in the
the net profits for the year ended Exim Bank gets $100m
year-ago period.
March 31, 2022, HDFC Bank said in a
Japanese funding for
regulatory filing. The development finance institution
healthcare support
This is subject to the approval of the sanctioned loans aggregating to Rs
shareholders at the ensuing Annual 68,863 crore under various lending The Export-Import Bank of India (Exim
Bank) said it had concluded a $100
General Meeting, the lender said. programmes during FY2022.
6 | 2022 | JUNE | BANKING FINANCE