June qtr results of Banks, NBFCs – don’t try to read too much
I really don’t know what will one analyze !
I really don’t know what will one analyze !
Since March, the bank has seen the exits of Abhay Aima, group head of private banking; Ashok Khanna, group head of secured vehicle loans; and Munish Mittal, chief information officer—all HDFC Bank veterans and close aides of its long-time managing director Aditya Puri. People aware of the matter have pointed to an expected top management … Read more
HDFC Bank Ltd has conducted a probe into allegations of improper lending practices and conflicts of interests in its vehicle-financing operation involving the unit’s former head, according to people familiar with the matter. India’s most valuable lender by market capitalization decided against proceeding with an earlier proposal to extend the employment of Ashok Khanna, an … Read more
That will revive stressed banks and finance companies as an alternative to the traditional practice of merging failed institutions with stronger ones. A bill which proposed the corporation in 2017, was withdrawn following criticism of a clause that sought to share cost of revival with depositors. “The traditional approach has been to merge a failed … Read more
The controversy around the write-off of the additional tier-one bonds (AT-1) by Yes Bank Ltd during the March quarter has continued unabated. In fact, the rift between the bondholders and the lender has now widened. Axis Trustee Services Ltd, which represents several direct and indirect retail bondholders, has issued a notice to Yes Bank, alleging … Read more
By Andy Mukherjee When private equity firm Sycamore Partners walked away from beleaguered lingerie chain Victoria’s Secret, some of the loudest gasps came from India, Asia’s busiest market for distressed assets. Acquirers felt emboldened to seek legal advice. Could they at least renegotiate prices by arguing that the coronavirus was a material adverse change? Also … Read more
Mumbai: After mounting an effort to rescue Yes Bank last month, three private sector lenders have already sold part of their stakes between 17 March and 31 March, showed shareholding data from BSE. The highest number of shares were sold by Federal Bank at 5.86 crore, followed by Kotak Mahindra Bank at 4.72 crore and … Read more
Mumbai/New Delhi: An interim order by the Delhi high court restraining coercive action against Indiabulls Housing Finance Ltd for its inability to repay bondholders has raised fears among mutual funds that more debtors could take the same course. The Indiabulls counsel cited the Reserve Bank of India’s (RBI) 27 March circular on loan moratorium and … Read more
It’s unfair but can go a long way towards the bank’s revival