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Devidutta Tripathy

Top lender SBI eyes return to profitability in third quarter

Aug 13 2018

NEW DELHI/BENGALURU State Bank of India is confident of returning to profitability from the December quarter onwards as the impact of bad loans eases, its chairman said after the nation's top lender by assets plunged to its third straight quarter of losses.

Fraud-hit lender PNB plots revival after second straight quarterly loss

Aug 07 2018

BENGALURU/NEW DELHI India's Punjab National Bank reported a second straight quarterly loss on Tuesday as it earmarked more funds to cover a massive fraud, but expects faster bad loan recovery to help it return to a profit for the full year.

HDFC AMC soars in blockbuster trading debut

Aug 06 2018

BENGALURU/NEW DELHI HDFC Asset Management Co Ltd's shares soared 67 percent on the first day of trading on Monday after a $408 million initial public offering last month, reflecting bullish investor sentiment on Indian mutual fund managers who have seen record inflows in recent months.

Axis Bank sees further recovery after smaller-than-expected profit drop

Jul 30 2018

NEW DELHI/BENGALURU India's Axis Bank Ltd expects a further revival in the second half of the year after reporting a smaller-than-expected drop in first-quarter net profit and an improvement in asset quality on Monday.

HDFC Bank launches up to $2.26 billion share sales in U.S. and India

Jul 30 2018

NEW DELHI/BENGALURU HDFC Bank Ltd launched separate share sales on Monday in the United States and its home Indian market in a bid to raise as much as 155 billion rupees ($2.26 billion).

Bad loans and bond provisions tip ICICI Bank into loss

Jul 27 2018

BENGALURU/NEW DELHI ICICI Bank Ltd, the third-biggest Indian lender by assets, reported its first quarterly net loss in at least 16 years, hurt by higher provisions for bad loans and bond losses.

Indian businessman Mallya seeks to sell $2 billion worth assets to repay creditors

Jun 26 2018

MUMBAI Businessman Vijay Mallya, who is being pursued by Indian authorities over unpaid loans tied to his defunct Kingfisher Airlines, said on Tuesday he was trying to sell assets worth about 139 billion rupees ($2.04 billion) to repay creditors.

ICICI Bank names Bakhshi interim head as CEO Chanda Kochhar goes on leave during probe

Jun 18 2018

MUMBAI ICICI Bank named group veteran Sandeep Bakhshi as its interim head, and said Chief Executive Chanda Kochhar would go on leave pending the completion of a probe over an alleged conflict of interest that has led to months of controversy for the lender.

Singapore Exchange to continue SGX Nifty trade despite India dispute

Jun 16 2018

MUMBAI The Singapore Exchange (SGX) said on Saturday a court-appointed arbitrator had told it to continue listing and trading SGX Nifty contracts beyond August 2018, during a dispute resolution with India's National Stock Exchange (NSE).

Graphic: The woes of India's state banking sector in four charts

May 30 2018

MUMBAI India's state-run banks posted a combined loss of 853.7 billion rupees ($12.65 billion) in the fiscal year ended this March, according to data compiled by Reuters, as their provisions for bad loans surged following stricter central bank rules.

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