HDFC Bank will leverage Microsoft Azure to consolidate and modernise its enterprise data landscape through a Federated Data Lake to scale its information management capabilities across enterprise reporting and advanced analytics, using artificial intelligence.
Bank of Maharashtra said that its gross advances grew nearly 22% year-on-year to Rs 1.57 lakh crore, while privately owned Federal Bank reported 19% rise to Rs 1.71 lakh crore. Smaller lenders such as South Indian Bank, CSB and Dhanlaxmi too reported high credit growth numbers a day before indicating that credit demand has been quite broad based.
Bank of Maharashtra said that its gross advances grew nearly 22% year-on-year to Rs 1.57 lakh crore, reflecting improved demand for loans with the Indian economy showing stability despite global headwinds.
Data available till November 18, 2022, show the outstanding loans to the services sector at ₹33.15 lakh crore, up 21.3% in one year. Outstanding loans to the industrial sector rose 13.8% in the same period to ₹32.94 lakh crore.
RBI said state-owned SBI along with private sector lenders ICICI Bank and HDFC Bank have been placed under the same bucketing structure as in the 2021 list of D-SIBs.
The Reserve Bank of India on Monday said that the State Bank of India, ICICI Bank, and HDFC Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs). The RBI announced SBI and ICICI Bank as D-SIBs in 2015 and 2016 while HDFC Bank was added to the list as on March 31, 2017.
Public sector banks have outperformed private banks in the recent past. Banks also expect margin trajectory to remain robust, while an improving asset-quality resolution should provide further fuel to profitability.
Public sector Indian Overseas Bank has elevated Ajay Kumar Srivastava as its managing director and chief executive officer with effect from January 1, the bank said on Saturday. Prior to taking up the new role, Srivastava was serving the city-headquartered bank as its executive director.
Credit to industry continued to register a strong pick-up, with total loans accelerating to 13.1%, while personal loans expanded at 19.7% in November, largely driven by housing and vehicle loans.