BANKING & FINANCE SBI Funds Makes Stock Market Debut After IPO Subscribed 41.66 Times

SBI Funds Management Ltd (SBI Funds), India’s largest asset management company, on Tuesday made its stock market debut with the listing of its equity shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), marking a significant milestone in its nearly four-decade journey. The listing follows the company’s highly successful Initial Public […]

CW Bureau · Jul 21, 2026

BANKING & FINANCE Cholamandalam Investment To Get ₹1,425-Cr IFC Fund For CV Financing

The International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, has proposed an investment of up to ₹1,425 crore (around $150 million) in securitised assets of Cholamandalam Investment and Finance Company Ltd (Chola) to expand credit access for micro, small and medium enterprises (MSMEs), particularly in rural and semi-urban India. […]

CW Bureau · Jul 21, 2026

BANKING & FINANCE Manappuram Finance To Deepen Gold Loan leadership, Revive Microfinance

Manappuram Finance Ltd will focus on strengthening its leadership in the gold loan business, scaling up secured lending businesses and restoring the growth trajectory of its microfinance arm, while accelerating digital transformation, Chairman and Managing Director V P Nandakumar said in his message to shareholders in the company’s Annual Report 2026. The NBFC also sees […]

Sajan C Kumar · Jul 21, 2026

BANKING & FINANCE City Union Bank Steps Up Investments In Cybersecurity & AI

Private sector lender City Union Bank Ltd is accelerating investments in cybersecurity, digital banking and artificial intelligence as part of its strategy to strengthen customer protection and enhance banking services. The bank said it is continuing to invest aggressively in cybersecurity to ensure customers remain protected against evolving digital threats while building a technology-driven banking […]

CW Bureau · Jul 20, 2026

BANKING & FINANCE Karur Vysya Bank Q1 Net Profit Jumps 45% To ₹756 Cr On Lending Growth

Private sector lender Karur Vysya Bank (KVB) reported a strong start to FY27, posting a 44.92% year-on-year increase in net profit to ₹756 crore for the quarter ended June 30, 2026, driven by healthy growth in net interest income, improved margins and better operating efficiency. The bank’s net interest income (NII) rose 31.76% to ₹1,423 […]

CW Bureau · Jul 20, 2026

BANKING & FINANCE Indian Overseas Bank Q1 Profit Rises 49% To ₹1,659 Cr; Bad Loans Decline

State-owned Indian Overseas Bank (IOB) reported a robust 49.32% year-on-year rise in net profit to ₹1,659 crore for the first quarter ended June 30, 2026, driven by strong growth in net interest income, healthy credit expansion and a sharp improvement in asset quality. The Chennai-headquartered lender’s operating profit increased 14.21% to ₹2,693 crore, while net […]

CW Bureau · Jul 20, 2026

BANKING & FINANCE ICICI Bank Eyes Sustainable Growth With AI-Led Banking Transformation

ICICI Bank has reaffirmed its strategy of pursuing risk-calibrated profitable growth while strengthening its digital capabilities, leveraging artificial intelligence (AI) and maintaining robust governance standards to remain resilient in an evolving banking landscape. In his message to shareholders in the ICICI Bank Annual Report 2026, Chairman Pradeep Kumar Sinha said the bank has optimised all […]

CW Bureau · Jul 19, 2026

BANKING & FINANCE ICICI Bank Q1 Net Profit Rises 16% To ₹14,805 Cr; Provisions See Decline

ICICI Bank reported a 15.9% year-on-year increase in standalone profit after tax (PAT) to ₹14,805 crore for the first quarter of FY27, driven by healthy growth in net interest income, strong fee income and sustained expansion in its loan portfolio. The private sector lender had posted a net profit of ₹12,768 crore in the corresponding […]

CW Bureau · Jul 18, 2026

BANKING & FINANCE Kotak Mahindra Bank Q1 Profit Jumps 26% On Strong Loan Growth And NII

Kotak Mahindra Bank reported a 26% year-on-year rise in standalone net profit to ₹4,123 crore for the first quarter of FY27, aided by steady growth in net interest income (NII), healthy loan expansion and a sharp decline in credit provisions. The bank had posted a profit after tax (PAT) of ₹3,282 crore in the corresponding […]

CW Bureau · Jul 18, 2026

BANKING & FINANCE Axis Bank Q1 Profit Up 23% To ₹7,114 Cr On Strong Income, Asset Quality

Private sector lender Axis Bank reported a 23% year-on-year increase in net profit to ₹7,114 crore for the first quarter of FY27, driven by healthy growth in core income, improved operating efficiency and stable asset quality. The bank had posted a net profit of ₹5,806 crore in the corresponding quarter of the previous financial year. […]

CW Bureau · Jul 18, 2026

BANKING & FINANCE Indian Bank Confident Of Meeting FY27 Asset Quality Targets: MD

State-owned Indian Bank remains confident of achieving its FY27 asset quality and recovery targets, with Managing Director & CEO Binod Kumar indicating that the lender is on track to reduce gross non-performing assets (GNPA) to 1.50-1.60%, while maintaining balanced credit growth without sacrificing margins. Speaking during the bank’s Q1 FY27 earnings call, Kumar said Indian […]

CW Bureau · Jul 18, 2026

BANKING & FINANCE Federal Bank Q1 Net Profit Rises 37% To ₹1,177 Cr; Asset Quality Improves

Federal Bank reported a 36.57% year-on-year increase in net profit to ₹1,176.93 crore for the quarter ended June 30, 2026 (Q1 FY27), driven by strong growth in its core lending business, expanding margins and a sharp improvement in asset quality. The bank’s performance was powered by robust growth in net interest income and fee income, […]

CW Bureau · Jul 17, 2026