After the merger of SBI and its subsidiaries (which seems to be moving smoothly as of now), the Finance Ministry is actively considering more consolidation in the banking space. Apparently, NITI Aayog is working on a...
SBI merger with associate banks may further deteriorate asset quality
State Bank of India (SBI) is likely to see a further deterioration in its asset quality following the merger of the retail loan portfolio of its five associate banks with the parent bank, a sign that the bad loan clean...
Catholic Syrian Bank valued at Rs 1,300 crore for Fairfax deal
One of India’s oldest private sector lenders Catholic Syrian Bank (CSB) has proposed a 51% stake sale to Canada’s Fairfax Financial Holdings Ltd at Rs 160 per share, which values the bank at nearly Rs 1,300 crore, two...
Government looking at more avenues to merge PSU banks: Finance Minister Arun Jaitley
The government today said it is examining the possibility of further consolidation in the public sector banking space without waiting for their finances to improve. Merger of five associate banks and Bhartiya Mahila...
Bank of India plans to sell stake in subsidiaries to raise capital
Saddled with bad loans, Bank of India is exploring the possibility of selling stake in some subsidiaries to unlock capital and turn the corner. “We sold stake in some of the subsidiaries and we are exploring...
IDBI Bank seeks to sell Rs5,000 crore of non-core assets
IDBI Bank Ltd said on Friday that it would sell Rs5,000 crore of non-core assets this fiscal year as it seeks to reinforce capital, less than a month after the central bank invoked its so-called prompt corrective action...
Apollo, Everstone eyeing stake in Catholic Syrian Bank post Fairfax deal
PEs and various financial investors have shown interest to acquire stake in Catholic Syrian Bank (CSB), including Aion Capital, JM Financial, and the Everstone-backed Indo Star Capital. Developments come at a time when...
IL&FS looking to refinance debt worth Rs15,000 crore through fundraising
With an eye on global liquidity and the increasing global investor interest in the Indian economy, infrastructure conglomerate Infrastructure Leasing and Financial Services Ltd (IL&FS) plans to embark on a major...
PSU banks may be asked to take over non-performing assets
In a fresh approach to tackle bad loans in state-run banks, the government is looking at possible takeover of troubled projects by state-run firms operating in related sectors, two senior officials said. The government...
SBI merger good first step; scope for more consolidation: NDB’s Kamath
Veteran banker and New Development Bank (NDB) President K V Kamath has described the merger of SBI’s associate banks with the parent a “good first step”, saying there is scope for further consolidation...
It’s the big sale at PSU banks as they rush to sell non-performing assets
Banks have rushed to sell their non-performing assets (NPAs) in the last quarter of the fiscal ending March 2017, as stricter provisioning norms on sale of stressed loans kick in from April 1. Banks have lined up more...
Punjab National Bank plans to sell non-core assets to shore up capital
State-run Punjab National BankBSE -3.04 % may look at selling stake in PNB Housing Finance and PNB Gilts in the next financial year, to shore up its capital base. “We look forward to stake sale, may be during the...