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Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × LKP Research's research report on Canara Bank Canara Bank has been reporting consistent growth in net profit since previous ten quarters. In 3QFY23, the profitability increased by 92% YoY and 14% sequentially on the back of lower provisioning expenses. A bulky provision (₹54bn) made in 4QFY20 (two years ago), continued to safeguard the balance sheet from delinquencies out of restructuring with PCR (calculated) of 68.2% and PCR (including TWO) of 86.3%. On asset quality front, the GNPA/ NNPA ratio (5.90%/1.96%) improved by 47bps and 23bps respectively on the back of lower NPA addition of ₹32bn. The slippages ratio (reported) marginally down at 34bps v/s 35bps in the previous quarter. The cumulative SMA1/2 book also eased to 49bps v/s 51bps in 2QFY23. On the business front, the bank has reported … [Read more...] about Buy Canara Bank; target of Rs 349: LKP Research

Bank of America ( BAC ) is one of the world's largest investment banks and financial institutions. It serves a broad range of customers, including individual consumers, wealthy investors, large corporations, and governments. The company offers a wide range of banking, investing, asset management, and other financial and risk management products and services. The bank operates primarily in the U.S., where it gets the vast majority of its revenue, as well as in dozens of countries around the globe. The company faces a broad array of competitors, including JPMorgan Chase ( JPM ), Citigroup ( C ), Goldman Sachs Group ( GS ), credit card issuers like Visa ( V ), hedge funds, and private equity firms. The Charlotte, North Carolina-headquartered company expanded from a regional player into a global giant through a series of major acquisitions in the past several decades. Key Takeaways Bank of America is one of the world's largest investment banks and financial … [Read more...] about How Bank of America Makes Money: Consumer Banking

Bangko Sentral ng Pilipinas. (File photo / Philippine Daily Inquirer) Loans extended by the country’s large banks grew by 13.4 percent year-on-year to a total of P10.9 trillion in December 2022, slower than the 13.9 percent recorded in November as banks were more sensitive to risk during the fourth quarter of 2022. Preliminary data at the Bangko Sentral ng Pilipinas (BSP) also show that, in December, outstanding loans of universal and commercial banks—net of short-term loans to the BSP—was 0.4 percent less compared with November. Philippine residents borrowed 13.2 percent more, slower than the growth rate of 13.6 percent in November. In December, loans granted to businesses grew by 12.1 percent, also slower compared to 12.6 percent in the previous month. The biggest amount was lent to companies engaged in real estate activities, growing by 13.1 percent to P2.18 trillion; manufacturing by 14.9 percent to P1.25 trillion; electricity, gas, steam and air-conditioning supply by … [Read more...] about BSP: Growth in bank lending slowed to 13.4% in Dec ’22

Payments through the Unified Payments Interface (UPI) accounted for more than half of all digital transactions in India in FY22 (2021-22), suggesting rapid adoption of the technology that was launched just six years back. In FY22, UPI accounted for 52 percent of the total 8,840 crore financial digital transactions with a total value of Rs 126 lakh crore, the government noted in its pre-Budget Economic Survey. In FY19 (2018-19), UPI accounted only for about 17 percent of the country's total 3,100 crore digital transactions, the Economic Survey noted. On average, between FY19-22 (calendar year), UPI transactions grew 121 percent in terms of value and 115 percent in terms of volume, the survey noted. In December 2022, UPI touched its highest-ever mark with 782 crore transactions worth  Rs 12.8 lakh crore, according to the Economic Survey. The Economic Survey further noted that UPI has processed 2,922 Read More According to the survey, India took the lead with … [Read more...] about Economic Survey 2023: UPI accounted for 52% of India’s total digital transactions in FY22

Share to Twitter Share to Linkedin Key News Asian equities were lower in advance of central banks hiking interest rates this week, while India managed a small gain and the Philippines and Taiwan underperformed. “De-risking” is occurring across risk assets globally along with some profit taking following the strong stock year to date performance. This is occurring globally, not just in Asia or China. In Asia, and yesterday in the US, attention was given to the sharp increase in US political rhetoric such as a Tik Tok ban, Huawei, Taiwan war by 2025, etc. though, isn’t Secretary of State Blinken visiting China next week? Could these “leaks”/news be nothing more than a negotiating tactic? Seems like a logical strategy to me! What did CNY, our risk barometer, do yesterday? Nothing. The key for investors to ask is will the pullback be bought. See all the managers saying they are overweight China? Me neither! Last night we had the January Manufacturing PMI … [Read more...] about Political Rhetoric Or Negotiating 101, PMIs Shine! BYD’s BOOM!

In 2021-22, 8.59 lakh MSMEs run by women were registered on the Udyam Portal. (File photo of then MSME Minister Kalraj Mishra at an MSME Financing Conference in Kolkata in 2014, via Wikimedia Commons) In India, the percentage of micro, small and medium enterprises ( MSMEs ) run by women in 2021-22 is 17.7 percent, as registered on the Udyam Portal. While 4.9 lakh women-led MSMEs registered on the portal in 2020-21, the number rose to about 8.59 lakh units during 2021-22. While this is substantial growth for women-led businesses post-pandemic, there lies a massive opportunity to spur this growth. Women who run businesses largely point out to access to capital as their biggest constraint, with nearly 70 percent claiming that their financing needs go unmet. There is a global financing gap in access to finance for women-owned businesses, and this is estimated at USD 20 billion in India and USD 1.7 trillion globally. As per information provided to the Parliament The … [Read more...] about Check your financial bias: How your lending business may be less accessible to women & how to fix that

The man filed a complaint with the Thane police. (Representative image: Wikimedia Commons) A man from Maharashtra's Thane city was allegedly duped of Rs 5 lakh by online fraudsters when he was checking a fault in his TV channel service, police said on Tuesday. The incident took place on January 14 when the man called up his TV channel service provider as its details were not displayed on his television screen, an official from Chitalsar police station said quoting the victim's complaint. While he was speaking on the phone, he got a call from another number where the caller asked him to download the AnyDesk app. After the man downloaded the app, he found that an amount of Rs 5 lakh was debited from his bank account through net banking even when he had not initiated the transaction, the official said. The man subsequently complained to the police who registered a case against unidentified persons under Indian Penal Code Section 420 (cheating) and provisions of the … [Read more...] about Man downloads AnyDesk on phone, loses Rs 5 lakh in seconds