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Bandhan Bank to offload soured home loans worth ₹775.6 cr
Livemint
·
1y ago
Medial
Bandhan Bank has decided to sell soured home loans worth ₹775.6 crore to an asset reconstruction company. The bank received a binding bid of ₹280.39 crore for the non-performing assets (NPAs) portfolio, which will be sold through a Swiss Challenge auction. The soured loans were part of the portfolio acquired from Gruh Finance. Additionally, rating agency Crisil downgraded Bandhan Bank's non-convertible debentures due to delays in asset quality restoration and profitability.
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Axis, Bandhan, Sammaan Capital tweak A/c practices to rewrite books
Economic Times
·
23d ago
Medial
Axis Bank, Bandhan Bank, and Sammaan Capital have altered their accounting practices, reflecting varied approaches to accounting prudence. Axis and Bandhan adopted more conservative measures, while Sammaan pursued aggressive income booking on securitised loans, boosting its profits. This change allowed Sammaan Capital to report significant gains and a 2.4% rise in quarterly net profit. In contrast, Axis Bank's stricter provisioning affected its earnings, and Bandhan Bank's billing adjustments led to minor increases in stressed loans.
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Bajaj Housing Finance files papers for Rs 7,000-cr IPO
YourStory
·
1y ago
Medial
Bajaj Housing Finance intends to raise Rs 7,000 crore through an initial public offering (IPO). The IPO includes a fresh issue of equity shares worth Rs 4,000 crore and a sale of equity shares worth Rs 3,000 crore by its parent company, Bajaj Finance. This move is in compliance with the Reserve Bank of India's regulations, which require non-banking finance companies to be listed on stock exchanges by September 2025. The funds raised will be used to strengthen Bajaj Housing Finance's capital base. The company offers various mortgage products, such as home loans and loans against property.
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Aye Finance Raises INR 250 Cr Debt Funding To Fuel MSME Lending
Inc42
·
1y ago
Medial
Aye Finance has secured debt funding from Dutch entrepreneurial development bank FMO. The funding will be used to provide loans to underserved micro, small, and medium enterprises in India. Aye Finance has already disbursed loans worth over INR 10,000 Cr to more than 8.67 Lakh customers so far.
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Peak XV, Bisque, link to offload ₹583 cr stake in Awfis
Inshorts
·
9m ago
Medial
VC major Peak XV Partners, Mauritius-based investment firm Bisque Limited, and Delhi-based Link Investment Trust reportedly plan to offload Awfis' shares worth ₹583 crore. Citing sources, CNBC-TV18 reported that the three investors will together offload a 12.2% stake, or 85.8 lakh shares, in the flexible workspace solutions company via a block deal.
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Up to 58% of home loan borrowers take Rs 10-50 lakh loans: Bank of Baroda study
Money Control
·
1y ago
Medial
According to a Bank of Baroda study, more than half of the loans disbursed in India by banks are home loans. Personal loans make up nearly 29% of loans disbursed, followed by vehicle loans at 9.8%. The study aims to examine the composition of personal loans and changing trends. It includes categories such as home loans, education loans, and consumer durables loans. As of September 2023, a significant portion of home loans in India had interest rates in the range of 9-11%.
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Banks lure customers with lower interest rates on home loans
Money Control
·
1y ago
Medial
Banks in India, including HDFC Bank, State Bank of India (SBI), and IDFC First Bank, are offering lower interest rates on home loans for customers with good credit records. These banks are aiming to attract more customers and compete in the mortgage market. Home loans at discounted rates are being provided by banks to customers with good repayment history and credit scores. This strategy is proving successful, as SBI's home loan portfolio grew by 13.16% in the October-December quarter, and HDFC Bank's market share in home loans increased by 18-20% after merging with Housing Finance Development Corporation.
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RBI move to deepen junk debt market to attract private credit funds, foreign investors
VCCircle
·
4m ago
Medial
The Reserve Bank of India's (RBI) new policy permitting the securitisation of stressed loans aims to attract foreign investors and deepen India's junk debt market. This move enables banks to offload bad loans as tradable securities, offering high-yield investment opportunities. Analysts believe this will bring more liquidity and diversity to the market, drawing interest from private credit funds and foreign portfolio investors. However, challenges like pricing, regulatory complexities, and slow recovery processes remain.
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Jio Financial Services Launches Beta App To Integrate Digital Financial Solutions
Inc42
·
1y ago
Medial
The JioFinance app offers instant digital account opening and convenient bank management through the Jio payments bank account. It aims to expand its services to include loan solutions such as mutual fund loans and home loans. The app is user-friendly and provides easy access to financial technology.
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Housing finance companies under lens over lending faults
Economic Times
·
21d ago
Medial
The National Housing Bank (NHB) is enhancing its oversight on housing finance companies for violating loan-to-value (LTV) norms in high-value home loans. An investigation revealed cases of loans over ₹75 lakh being sanctioned at up to 90% LTV, against the permissible 75% cap. NHB has directed lenders to reclassify such loans as non-home loans. This scrutiny has impacted market transactions, as housing finance companies now require explicit loan classifications before purchasing loan portfolios.
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RBI clears appointment of Partha Pratim Sengupta as MD and CEO of Bandhan Bank
YourStory
·
11m ago
Medial
- Partha Pratim Sengupta has been approved by the RBI as the new MD and CEO of Bandhan Bank for a three-year period. - Sengupta's tenure starts from a date no later than November 10, 2024, according to Bandhan Bank's regulatory filing. - He will replace Founder MD and CEO Chandra Sekhar Ghosh, who stepped down on July 9. - Sengupta retired as the MD and CEO of Indian Overseas Bank and has over four decades of experience in both retail and corporate banking. - He was groomed at State Bank of India, where he held the role of Deputy Managing Director and Chief Credit Officer. - Bandhan Bank was launched in 2015 as the first microfinance institution to become a universal bank in the Eastern region.
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