HDFC Bank currently owns 94.6% in HDB Financial Services. The bank has announced a Rs 12,500 cr IPO of HDB. HDB incorporated in 2007, is a non-banking financial company (NBFC) that provides lending and business process outsourcing (BPO) services to individuals and businesses The lending involves both secured and unsecured loans and the BPO services … Read more
In a media interview, Kotak Bank’s CEO, Ashok Vaswani has communicated his target to be the 3rd largest private bank by 2030. From the interaction it was unclear whether the aspiration is on balance sheet, profits, ROE or all. As of now Kotak is the 4th largest private bank after HDFC, ICICI and Axis. In … Read more
Godrej Capital (GCL), the financial subsidiary of Godrej Industries (GIL) was started in 2020. Since then it has been providing home loans in select geographies. It is the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC). The business is ramping up nicely and GIL has now shared the following … Read more
Fintech NBFCs may need to revisit their business model and temper loan disbursements in light of tighter funding and a regulatory warning on growth strategies, India Ratings (Ind-Ra) has cautioned. They need to be watchful in growing their unsecured consumer lending exposure in FY25 in the backdrop of an increase in funding costs, along with … Read more
The Tata group’s unlisted financial services businesses have reported hefty profits for the year, with Tata Capital, the group’s financial services business, reporting a profit of Rs 2,492 crore on revenues of Rs 13,309 crore, as per Tata Sons’ annual report for the financial year ended March 2024. The two insurance joint ventures, Tata AIA … Read more
AU Small Finance Bank (SFB) has applied to the RBI for voluntary transition from a SFB to a Universal Bank (UB). The eligibility criteria for a SFB to transition into a UB is – a satisfactory track record of performance for at least five years; listed on stock exchanges; minimum net worth of Rs 1,000 … Read more
SMFG India Credit Company Ltd is looking at a capital infusion of up to Rs 2,000 crore from its parent—Japanese financial services group SMFG—till 2026 to support future growth in India. The business plans factor in possible inclusion in the upper layer list of finance companies, requiring the listing of equity shares on bourses. Its … Read more