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Indian Bank has announced its Q1 FY25results,

30Jul

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Indian Bank has announced its Q1 FY25results,

Indian Bank has announced its Q1 FY2 5results, Indian Bank has announced its Q1 FY2 5results, Net Profit up by 41% YoY at ₹2 403Cr in Jun’24 from ₹1709 Cr in Jun’23 Financial Results for the Quarte ended 30th June 2024 Bank’s Global Business is at ₹12.20 lak h Cr, up by 11% YoY Key Highlights (Quarter ended Jun’24 over Jun’23) Net Profit up by 41% YoY at ₹2403 Cr in Jun’24 from ₹1709 Cr in Jun’23 Operating Profit improved by 9% YoY to ₹4502 Cr in Jun’24 from ₹4135 Cr in Jun’23 Net Interest Income increased by 8% YoY to ₹6178 Cr in Jun’24 from ₹5703 Cr in Jun’23 Fee based income grew by 17% YoY to ₹788 Cr in Jun’24 from ₹671 Cr in Jun’23 Return on Assets (RoA) up by 25 bps to 1.20% in Jun’24 from 0.95% in Jun’23 Return on Equity (RoE) increased by 188 bps to 1...

Kotak Life Insurance launches Kotak Gen2Gen Protect

28Jun

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BANK, ENGLISH, PRESS MEET, TAMILNADU

Kotak Life Insurance launches Kotak Gen2Gen Protect

Kotak Life Insurance launches Kotak Gen2Gen Protect · Protection plan that not only covers you but can also be passed on to your child as a legacy Chennai, June 27, 2024 Kotak Mahindra Life Insurance Company Ltd (“Kotak Life”) announced the launch of its new protection plan Kotak Gen2Gen Protect. This product offers an industry-first feature with an option of covering two generations with one plan, thus passing on the legacy of protection. Coming with a 100% guaranteed return of premium benefit on survival, Kotak Gen2Gen Protect offers a flexibility of transferring the complete risk cover to the child, when the parent (primary life insured) turns sixty or sixty-five years of age. Addionally, this risk cover stays on with the child till the age of sixty. ...

28Apr

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BANK, LAUNCH, OTHERS

DCB BANK ANNOUNCED ITS Q4FY24 RESULTS

DCB BANK ANNOUNCED ITS Q4FY24 RESULTSSharing an update on behalf of DCB Bank. The Bank has announced its Q4FY24 results, The Bank's Profit After Tax (PAT) for Q4 FY 2024 was at INR 156 Cr. In comparison Profit After Tax for Q4 FY 2023 was at INR 142 Cr reporting a growth of 9%. Notable points: · The Bank's Profit After Tax (PAT) for FY 2024 was IN 536 Cr. In comparison Profit After Tax for FY 2023 was at INR 466 Cr marking a growth of 15%. · Advances growth year-on-year was at 19% (Year-on-year Mortgages growth 22%, Co- lending growth 23%, Construction Finance growth 26% and Agri & Inclusive Banking growth 30%) and Deposit growth year-on-year was at 20%. .The Gross NPA ratio as on on March 31, 2024, was at 3.23%. Net NPA was at 1.11% as on March 31, 2024. · The Provision Coverag...

Indel Money Limited Launches Public Issue of up to Rs. 200 crores of Secured, Redeemable Non-Convertible Debentures (NCDs)

1Feb

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BANK, INDIA, INDUSTRIES, INSURANCE, INTERVIEWS, INVESTMENT, ONLINE ALL, PRESS MEET, SOCIAL MEDIA

Indel Money Limited Launches Public Issue of up to Rs. 200 crores of Secured, Redeemable Non-Convertible Debentures (NCDs)

Indel Money Limited Launches Public Issue of up to Rs. 200 crores of Secured, Redeemable Non-Convertible Debentures (NCDs) Secured NCDs of face value of Rs.1,000 each The Issue includes a Base Issue Size for an amount of up to Rs.100 crores with an option to retain over-subscription up to Rs. 100 crores aggregating up to Rs.200 crores issue opens on Tuesday, January 30th, 2024 and closes on Monday, February 12th, 2024 Doubling of investment in 72 months – Option VIII Coupon yielding up to 12.25% per annum Secured NCDs with tenure ranging from 366 days to 72 months Minimum application size 10 NCDs (Rs.10,000) across all Options of NCDs Chennai, 31 January 2024 Indel Money Limited, one of the fastest growing NBFC in the gold loan sector, announced the 4th public issue of Se...

Kotak Mahindra Life Insurance Launches T.U.L.I.P

5Jan

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BANK, ENGLISH, PRESS MEET, TAMILNADU

Kotak Mahindra Life Insurance Launches T.U.L.I.P

Kotak Mahindra Life Insurance Launches T.U.L.I.P * A unit linked term insurance that offers life cover upto 100 times of the annual premium Chennai, January 4, 2024: Kotak Mahindra Life Insurance Company Limited (Kotak Life) today announced the launch of T.U.L.I.P Term with Unit Linked Insurance Plan. T.U.L.I.P. is a unit linked term insurance plan that offers life cover upto 100 times of the annual premium while giving a customer the opportunity to earn returns like a unit linked insurance plan (ULIP). It also provides additi onal protection against critical illnesses and accidental death. Mahesh Balasubramanian, Managing Director, Kotak Mahindra Life Insurance Company Limited said, Customer centricity has always been the DNA at Kotak Life. TULIP offers our cus...

Jana Small Finance Bank and Manipal Academy of BFSI launches ‘Aspiring Bankers

21Nov

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BANK, ENGLISH, INDIA

Jana Small Finance Bank and Manipal Academy of BFSI launches ‘Aspiring Bankers

Jana Small Finance Bank and Manipal Academy of BFSI launches ‘Aspiring Bankers Program’ To hire and train the new generation of Personal Bankers in Karnataka and Tamil Nadu INDIA, 20 November 2023: Manipal Academy of BFSI has partnered with Jana Small Finance Bank to launch the 'Aspiring Bankers Program,' aimed to hire and train the next generation of Personal Bankers for Jana Small Finance Bank. The program, offered by the Manipal Academy of BFSI is aimed at identifying talent and providing intensive on-t he-job training. It aims to create a robust talent pipeline for Jana Small Finance Bank, serving the diverse comm unities of Karnataka and Tamil Nadu. The program is open to individuals with a graduate degree. Candidates enr olled in this program will be train...

Key Highlights (Quarter ended Sept 23 over Sept 22)

27Oct

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BANK, ENGLISH, PRESS MEET, TAMILNADU

Key Highlights (Quarter ended Sept 23 over Sept 22)

Indian Bank announces Q2 FY2024 results; Net profit up by 62% YoY Chennai, Oct 26, 2023 : SL Jain, MD & CEO of Indian Bank today announced Half year / Quarter ended 30th September 2023. He said that Bank’s Global Business reached ₹11.33 lakh Cr and Net profit up by 62% YoY, Operating Profit up by 19% YoY. Key Highlights (Quarter ended Sept 23 over Sept 22) Net Profit up by 62% YoY at ₹1988 Cr in Sep’23 from ₹1225 Cr in Sep’22 Profit Before Tax up by 75% YoY at ₹2752 Cr in Sep’23 from ₹1571 Cr in Sep’22 Operating Profit for Sep’23 up by 19% YoY at ₹4303 Cr from ₹3629 Cr in Sep’22 Net Interest Income increased by 23% YoY to ₹5741 Cr in Sep’23 from ₹4684 Cr in Sep’22 Fee based income grew by 11% YoY to ₹805 Cr in Sep’23 from ₹723 Cr in Sep’22 NIM (Domestic) increased to 3.52...

Financial Results for the Quarter ended 30th June 2023

31Jul

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BANK, ENGLISH, PRESS MEET, TAMILNADU

Financial Results for the Quarter ended 30th June 2023

Financial Results for the Quarter ended 30th June 2023 Bank’s Global Business crossed ₹11 lakh Cr Key Highlights (Quarter ended Jun’23 over Jun’22) Net profit up by 41% YoY Operating Profit up by 16% YoY Net Profit up by 41% YoY at ₹1709 Cr in Jun’23 from ₹1213 Cr in Jun’22 Profit Before Tax up by 78% YoY at ₹2394 Cr in Jun’23 from ₹1345 Cr in Jun’22 Operating Profit grew by 16% YoY at ₹4135 Cr in Jun’23 from ₹3564 Cr in Jun’22 Net Interest Income increased by 26% YoY to ₹5703 Cr in Jun’23 from ₹4534 Cr in Jun’22 Fee based income grew by 7% YoY to ₹671 Cr in Jun’23 Cost-to-Income Ratio stood at22% in Jun’23 Domestic NIM improved to 61% in Jun’23 from 3.10% in Jun’22 Return on Assets (RoA) improved to 95% in Jun’23 from 0.73% in Jun’22 ...

24Jul

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BANK, ENGLISH, NORTH INDIA

Indian Bank Launches “Resources Acquisition Centres”

Indian Bank Launches “Resources Acquisition Centres” - A dedicated organisational structure to strengthen the deposit base Mumbai, 21st July 2023 : Indian Bank, the country's 7th largest Public Sector Bank, takes a significant strategic step towards reinforcing its Deposit Business Portfolio with the introduction of a Dedicated Business Unit Conc ept, "Resources Acquisition Centre" (RAC). The inaugural ceremony of the first Resources Acquisition Centre to ok place today on 20th July 2023 in Mumbai (Southern), in the esteemed presence of Shri. Mahesh Kumar Bajaj, Executive Director, Indian Bank, and Shri. S S P Roy, Field General Manager, Mumbai FGMO. The bank plans to open 20 RACs at Ultra Potential Centers in Phase-I to bolster its Deposit portfolio. The primary objective of this...

Financial Results for the Quarter/ Year ended as on 31st March 2023

9May

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BANK, ENGLISH, TAMILNADU

Financial Results for the Quarter/ Year ended as on 31st March 2023

Financial Results for the Quarter/ Year ended as on 31st March 2023 Bank’s Global Business reached ₹10.95 lakh Cr Operating Profit up by 47% YoY for Q4FY23 & 20% YoY for FY23 Key Highlights (Quarter ended Mar’23 over Mar’22) Net profit up by 47% YoY for Q4FY23 & 34% YoY for FY23 Net Profit up by 47% YoY at ₹1447 Cr in Mar’23 from ₹984 Cr in Mar’22 Operating Profit up by 47% YoY at ₹4016 Cr in Mar’23 from ₹2738 Cr in Mar’22 Net Interest Income increased by 29% YoY to ₹5508 Cr in Mar’23 from ₹4255 Cr in Mar’22 Fee based income grew by 12% YoY to ₹914 Cr in Mar’23 Cost-to-Income Ratio improved to47% in Mar’23 from 53.03% in Mar’22 Domestic NIM improved to 59% in Mar’23 from 2.87% in Mar’22 Return on Assets (RoA) improved to 82% in Mar’23 fro...