The Reserve Bank of India (RBI) has accorded its approval to HDFC Bank Ltd Bank (being promoter / sponsor of its group entities HDFC Mutual Fund, HDFC Life Insurance Company Ltd, HDFC ERGO General Insurance Company Ltd, HDFC Pension Fund Management Ltd and HDFC Securities Ltd) to acquire “aggregate holding” of up to 9.50% of … Read more
Kotak Mahindra Bank on Friday said its board has approved a sub-division of equity shares in a 1:5 ratio to make the stock more affordable and enhance market liquidity. The decision was taken on the lender’s 40th foundation day and is subject to statutory and regulatory approvals, the private sector bank said in a regulatory … Read more
Blackstone is picking up warrants in Federal Bank, which if converted would make it a 9.99% shareholder of the bank. The deal is for a total of Rs 6,196 cr 25% will be invested now and balance 75% within 18 months if Blackstone decides to convert. Per share price is fixed at Rs 227/ share, … Read more
Emirates NBD is acquiring majority into RBL through primary capital infusion upto $3 Bn (~ Rs 26,850 cr). Consequent to the transaction, ENBD is also making mandatory open offer to purchase additional 26% from the public shareholders. Open offer price is @ Rs 280/ share against the current trading price of Rs 300/ share Depending … Read more
With inflation cooling, GST cuts boosting disposable incomes, and anticipated interest rate cuts likely to reduce borrowing costs, the country’s largest private lender expects loan demand to gather momentum in the second half of the financial year and beyond. “The triad of tax benefits, GST cuts and interest rate cuts seems to be working as … Read more
IndusInd International Holdings Ltd. (IIHL), Mauritius has announced the acquisition of 100% stake in Sterling Bank, Bahamas. The company said in a statement that it had earlier acquired 51% stake in September 2022, and has now completed the acquisition of the remaining 49% equity. The acquisition was made through IIHL’s wholly owned subsidiary, IIHL (Capital), Mauritius. … Read more
HDFC Bank has been barred from onboarding new customers at its Dubai International Financial Centre (DIFC) branch by the local regulator. In an exchange filing, the Bank said it has received the “decision notice” from DFSA, which points to alleged violations. Details of the violations were not informed by the bank. It can continue to … Read more
Finance minister Nirmala Sitharaman on Thursday called upon banks and financial institutions with strong balance sheets to step up lending for public infrastructure, industry and the MSME sector.Addressing the Foundation Day event of Bank of Maharashtra, Sitharaman highlighted the critical role of banks amid growing global uncertainty. “The global environment has become increasingly unpredictable. The … Read more