Page 7 - Banking Finance April 2018

BANK UPDATE

BANKING

NEWS
NEWS
NEWS
NEWS
NEWS

ICICI Bank offers auto- PNB Housing Finance to raise 8,000 cr

mated loans to MSMEs PNB Housing Finance is planning to raise around Rs.8,000 crore by way of a
debt issue. The housing finance company in a notice to
stock exchange said that the issuance of secured and
unsecured non-convertible debentures aggregating up
to Rs.8,000 crore in one or more tranches will be con-
sidered in the board meeting. As on December-end
2017, promoter Punjab National Bank had 32.96 per cent stake in PNB Hous-
ing. Under the public shareholder category, the biggest shareholders include
Quality Investment Holdings (37.33 per cent) and General Atlantic Singapore
Fund FII Pte Ltd (8.52 per cent).
Micro, small and medium enterprises
(MSMEs) that have current accounts Karnataka Bank's opens all woman branch
with ICICI Bank can now avail of au- Karnataka Bank has opened its first all-woman branch in Bengaluru. This is the
tomated loans in the form of an in- 800th branch of the bank. Mahabaleshwara MS, Managing
stant overdraft facility of up to Rs 10 Director and CEO, said the bank opened 36 branches during
lakh each year. The 'InstaOD' will en- 2017-18. The bank has registered a business turnover of
able a few lakh pre-qualified custom- Rs.1.06-lakh crore. P Jayarama Bhat, Chairman of the bank,
ers, who have held a current account inaugurated the new premises of the Bengaluru regional of-
for at least a year, to instantly get the
fice of the bank on the occasion.
loan without visiting a branch or sub-
mitting physical documents. RBI: Bank credit grows 11.48%
The overdraft will be available at any Banks' credit growth continued to grow by in double digit at 11.48 % to Rs
time, anywhere, using the bank's 83,48,773 crore in the fortnight ended March 2, ac-
internet and mobile banking app. cording to the RBI data. In the period ended March
ICICI Bank has said that it will soon 3, 2017, the advances had stood at Rs 74,88,993
offer a facility of instant online sanc- crore. The growth in advances in the reporting fort-
tion of overdraft facility to MSME night was higher than the previous fortnight.
customers of other banks too. ICICI
In the period ended February 16, 2018, banks' credit
Bank's MSME portfolio is currently
had grown by 10.65 per cent to Rs 82,53,516 crore
2.5-3% of its total portfolio, but is from Rs 74,58,850 crore in the period ended February 17, 2017. In January 2018,
one of the fastest expanding seg- the non-food credit of banks rose by 9.5 per cent as against a growth of 3.5 per
ments with a growth rate of 17%.
cent in January 2017.

BANKING FINANCE | APRIL | 2018 | 7