Latest news with #SandeepBatra
Time of India
22-07-2025
- Business
- Time of India
Credit card growth slows in June 2025, new additions drop at top banks
In signs that asset quality worries are yet to recede for India's credit card industry, some of the country's largest issuers saw significant drops in their new card additions in June 2025, data released by the Reserve Bank of India (RBI) showed. The overall industry growth slipped into negative territory for the first time since the onset of the Covid-19 pandemic. Explore courses from Top Institutes in Please select course: Select a Course Category CXO Project Management Technology MBA Artificial Intelligence Digital Marketing Data Analytics Leadership Degree Finance Data Science Data Science Others Operations Management Cybersecurity others Healthcare Management healthcare Product Management MCA PGDM Public Policy Design Thinking Skills you'll gain: Digital Strategy Development Expertise Emerging Technologies & Digital Trends Data-driven Decision Making Leadership in the Digital Age Duration: 40 Weeks Indian School of Business ISB Chief Digital Officer Starts on Jun 30, 2024 Get Details Skills you'll gain: Customer-Centricity & Brand Strategy Product Marketing, Distribution, & Analytics Digital Strategies & Innovation Skills Leadership Insights & AI Integration Expertise Duration: 10 Months IIM Kozhikode IIMK Chief Marketing and Growth Officer Starts on Apr 7, 2024 Get Details Skills you'll gain: Technology Strategy & Innovation Emerging Technologies & Digital Transformation Leadership in Technology Management Cybersecurity & Risk Management Duration: 24 Weeks Indian School of Business ISB Chief Technology Officer Starts on Jun 28, 2024 Get Details Skills you'll gain: Operations Strategy for Business Excellence Organizational Transformation Corporate Communication & Crisis Management Capstone Project Presentation Duration: 11 Months IIM Lucknow Chief Operations Officer Programme Starts on Jun 30, 2024 Get Details Credit card spends were also down to a four-month low of ₹1.83 lakh crore while they grew by a little over 5% over June 2024 when spends stood at ₹1.73 lakh crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo ICICI Bank 's total cards in use dropped by about 287,000 over May to 17.9 million at June end. Kotak Mahindra Bank also saw a sharp drop of 286,000 cards, while RBL Bank lost over 47,000 cards and Axis Bank saw a decline of around 6,000. Live Events "We keep monitoring our portfolio and we believe that the quality of the book that we have built is quite stable. In case there are early signs of stress, we take proactive actions," Sandeep Batra, executive director at ICICI Bank, had said during the lender's post Q1 earnings media call. ICICI Bank had seen negative growth of over 31,000 credit cards in May as well. RBL Bank also has seen a consistent drop in its new card addition since it stopped sourcing from Bajaj Finance in November last year. "We have been consciously growing this (credit card) portfolio slower," said Jaideep Iyer, head of strategy at RBL Bank. "It's important that we continue to put a high threshold for new origination of cards both from asset quality as well as cross-sell standpoint to ensure that this becomes a meaningful customer acquisition tool for the bank rather than only a credit card acquisition tool." Analysts say banks are scouting for top quality customers to arrest future delinquency issues which is limiting growth. "Banks are cautiously growing their book and targeting only high quality customers, hence we are seeing a slowdown," said said Ashutosh Mishra, head, institutional equities research at Ashika Stock Brokin. "There is a RBI rule which directs banks to deactivate cards that have remained unused for 365 days or more, the period of declassify such cards has started again." In terms of banks that reported an increase in card base, HDFC Bank added 212,000 cards and SBI Cards 83,000 cards. The pace of additions slowed compared to previous months. They had added 274,000 cards and 126,000 cards, respectively, in May. Federal Bank and IDFC First Bank have been consistently adding new cards. In June, Federal Bank added more than 92,000 cards while IDFC First Bank added more than 70,000 cards. Total net new card issuance fell by 235 last month as total credit card base remained flat at 111.1 million. Lenders had added over 76,000 net new credit cards in May 2025 and 51,000 net new cards in June 2024.
The Print
20-07-2025
- Business
- The Print
ICICI Bank Q1 net profit jumps 15.9 pc; sees margin contraction ahead
Its core net interest income increased 10.6 per cent to Rs 21,635 crore on the back of a 12 per cent domestic loan growth, but was restricted by a narrowing of the net interest margin to 4.34 per cent from 4.41 per cent in the quarter-ago period. On a standalone basis, the country's second-largest private sector lender reported a net profit of Rs 12,768 crore for the quarter, up 15.5 per cent from Rs 11,059 crore a year ago. Mumbai, Jul 19 (PTI) ICICI Bank on Saturday posted a 15.9 per cent jump in its consolidated net profit for the June quarter to Rs 13,558 crore compared to Rs 11,696 crore in the year-ago period. The bank's executive director Sandeep Batra pointed to some more pain in the offing on the NIMs front, especially with the RBI's rate cut cycle still on. 'We do expect the NIMs to sort of compress a little more in the next quarter,' he told reporters, adding that the future trajectory will be decided by the RBI's actions and the overall liquidity in the system. The other income, excluding treasury operations, recorded a 13.7 per cent jump to Rs 7,264 crore. From an asset growth perspective, the bank slowed down growth in the riskier credit card and personal loans segment to over 1 per cent each after multiple quarters of maintaining it at over 20 per cent. Batra said there is no specific reason for the slowdown, but pointed out that the number is influenced by the demand factor as well. When asked about the slower growth in retail assets, he said the bank does recalibrations to its credit norms and added that there is an overall slowdown in the market as well. The corporate loans grew more slowly than expected because of competitive pricing options available to borrowers. From an asset quality perspective, the fresh slippages came at a slightly higher level of Rs 6,245 crore, but the bank management made it clear that it is comfortable with the quality of the portfolio. The overall provisions, excluding the ones for taxes, stood at Rs 1,815 crore compared to Rs 1,332 crore in the year-ago period, the bank said. The gross non-performing assets ratio improved to 1.67 per cent as of June 30 from 2.15 per cent in the year-ago period. Batra said the bank expects the economy to fare better in the second half of the fiscal year, and the banking system will be a beneficiary of this as credit demand increases. The overall deposit growth came at 12.8 per cent for the reporting quarter, the bank said, adding that it added 83 branches to take its overall network to 7,066 branches as of June 30. ICICI Bank's overall capital adequacy stood at 16.97 per cent, with the core buffer level at over 16 per cent. Batra said the bank does not foresee any immediate need for a capital raising exercise. Among its subsidiaries, the life insurance arm delivered a PAT increase to Rs 302 crore in Q1 against Rs 225 crore in the year-ago period, the general insurance arm's PAT jumped by nearly 29 per cent to Rs 747 crore, while ICICI Securities' net profit declined to Rs 391 crore from Rs 527 crore. PTI AA BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
19-07-2025
- Business
- Time of India
HDFC & ICICI Bank report strong earnings with record profits in Q1
File photo MUMBAI: HDFC Bank and ICICI Bank reported strong earnings growth for the quarter ended June 2025, supported by a rise in both interest and non-interest income. However, both lenders flagged margin pressures and adopted a cautious stance in certain retail segments. HDFC Bank declared a 1:1 bonus issue and an interim dividend of Rs 5 per share. The bank's standalone net profit rose 12.2% year-on-year to a record Rs 18,155 crore, up from Rs 16,175 crore in the year-ago quarter. The increase was driven by a 103.7% jump in other income and a lower tax outgo, even as provisions rose fourfold. Total income grew 18.5% to Rs 99,200 crore, supported by a 6.1% rise in interest income. Earnings from investments rose 20.1%, while income from balances with RBI and interbank funds surged 41.7%. As of June-end, ad- vances stood at Rs 27.8 lakh crore, up 8%, while deposits rose 16% to Rs 27.6 lakh crore. ICICI Bank posted a 15.4% year-on-year growth in standalone net profit to Rs 12,768 crore, compared with Rs 11,059 crore a year earlier. Profit growth was backed by a 10.1% rise in interest income and a 21.5% increase in other income. Operating profit rose 17% to Rs 18,746 crore, while provisions grew 36.2% to Rs 1,815 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo Advances rose 11.5% to Rs 13.6 lakh crore, and deposits increased 12.8% to Rs 16 lakh crore. The board also approved acquisition of ICICI Prudential Pension Funds Management Company for Rs 203.5 crore, making it a wholly owned subsidiary, pending regulatory approvals. HDFC Bank CFO Srinivasan Vaidyanathan said loan growth is expected to match the industry in FY26 and improve by FY27, led by consumption-driven lending. Mortgages grew 7%, and overall retail lending rose 9.6%. ICICI's ED Sandeep Batra said personal loan and credit card growth slowed to 1% due to calibrated risk management but asset quality remained stable. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
News18
19-07-2025
- Business
- News18
ICICI Bank Q1 net profit jumps 15.9 pc; sees margin contraction ahead
Mumbai, Jul 19 (PTI) ICICI Bank on Saturday posted a 15.9 per cent jump in its consolidated net profit for the June quarter to Rs 13,558 crore compared to Rs 11,696 crore in the year-ago period. On a standalone basis, the country's second-largest private sector lender reported a net profit of Rs 12,768 crore for the quarter, up 15.5 per cent from Rs 11,059 crore a year ago. Its core net interest income increased 10.6 per cent to Rs 21,635 crore on the back of a 12 per cent domestic loan growth, but was restricted by a narrowing of the net interest margin to 4.34 per cent from 4.41 per cent in the quarter-ago period. The bank's executive director Sandeep Batra pointed to some more pain in the offing on the NIMs front, especially with the RBI's rate cut cycle still on. 'We do expect the NIMs to sort of compress a little more in the next quarter," he told reporters, adding that the future trajectory will be decided by the RBI's actions and the overall liquidity in the system. The other income, excluding treasury operations, recorded a 13.7 per cent jump to Rs 7,264 crore. From an asset growth perspective, the bank slowed down growth in the riskier credit card and personal loans segment to over 1 per cent each after multiple quarters of maintaining it at over 20 per cent. Batra said there is no specific reason for the slowdown, but pointed out that the number is influenced by the demand factor as well. When asked about the slower growth in retail assets, he said the bank does recalibrations to its credit norms and added that there is an overall slowdown in the market as well. The corporate loans grew more slowly than expected because of competitive pricing options available to borrowers. From an asset quality perspective, the fresh slippages came at a slightly higher level of Rs 6,245 crore, but the bank management made it clear that it is comfortable with the quality of the portfolio. The overall provisions, excluding the ones for taxes, stood at Rs 1,815 crore compared to Rs 1,332 crore in the year-ago period, the bank said. The gross non-performing assets ratio improved to 1.67 per cent as of June 30 from 2.15 per cent in the year-ago period. Batra said the bank expects the economy to fare better in the second half of the fiscal year, and the banking system will be a beneficiary of this as credit demand increases. The overall deposit growth came at 12.8 per cent for the reporting quarter, the bank said, adding that it added 83 branches to take its overall network to 7,066 branches as of June 30. ICICI Bank's overall capital adequacy stood at 16.97 per cent, with the core buffer level at over 16 per cent. Batra said the bank does not foresee any immediate need for a capital raising exercise. Among its subsidiaries, the life insurance arm delivered a PAT increase to Rs 302 crore in Q1 against Rs 225 crore in the year-ago period, the general insurance arm's PAT jumped by nearly 29 per cent to Rs 747 crore, while ICICI Securities' net profit declined to Rs 391 crore from Rs 527 crore. PTI AA BAL BAL view comments First Published: July 19, 2025, 19:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Economic Times
09-07-2025
- Business
- Economic Times
Affluent Indians shift gears as interest rises in alternatives, gold, global investing: HSBC report
Wealthy Indian investors are signaling a notable shift in their investment strategy, with a rising preference for alternative assets, managed solutions, and overseas diversification, according to the HSBC 2025 Affluent Investor Snapshot. ADVERTISEMENT The report, based on a survey of 10,797 affluent investors across 12 global markets, reveals a growing appetite for diversified portfolios, especially among Indian investors who are increasingly looking beyond traditional holdings. HSBC notes that affluent Indians are now leaning toward multi-asset strategies, alternative investments, and managed products like mutual funds, reflecting a broader evolution in wealth management goals. According to Sandeep Batra, Head of International Wealth and Personal Banking at HSBC India, 'There is a notable shift among affluent individuals in India toward a more strategic approach to portfolio management. There is a growing emphasis on making money work harder over extended time horizons.' He added that Indian investors are 'actively diversifying across various asset classes, including alternatives, and exploring opportunities beyond their domestic markets.'Within Indian portfolios, gold has seen the highest increase in allocation over the past year, rising from 8% to 15%, followed by alternative investments. Managed investments, equities, and gold remain the dominant holdings. Indian investors also maintain the lowest average cash allocation in Asia at just 15%, indicating a higher willingness to deploy capital into growth-oriented Gen Z and millennial investors are leading this trend, cutting down cash allocations from 31% to 17% on average. In India, while affluent investors have already reduced cash allocations, their global peers remain divided: 30% plan to increase cash allocations, 20% plan to reduce them, and half intend to keep them unchanged over the next 12 months. ADVERTISEMENT Also read: Baseless and malicious: Vedanta slams Viceroy report, says claims 'meant to discredit' the group Affluent investors in India and globally are also showing rising interest in international diversification. The US ranks as the top destination for overseas investments, while markets like Singapore, Hong Kong, UAE, and the UK also remain attractive. HSBC's findings show that 4 in 10 global affluent investors plan to invest internationally in the next 12 months, with the highest intent reported in the UAE (56%) and Singapore (50%). ADVERTISEMENT Notably, investors in key wealth hubs not only look abroad but also show strong preferences for investments within their own regions. The report also notes increasing interest in opening overseas investment accounts, with the US, Singapore, and Hong Kong ranking highest in macroeconomic headwinds, Indian investors remain significantly more optimistic than their global counterparts. According to HSBC's findings, over 90% of Indian respondents are confident in achieving their short-term goals, more than 80% in medium-term goals, and 86% in long-term financial objectives. ADVERTISEMENT Globally, 8 in 10 affluent investors remain confident in meeting their financial goals, with retirement planning emerging as the most important long-term priority across India, property investment, financial support for family, and personal well-being savings top the list of financial priorities. Additionally, 85% of Indian respondents expressed satisfaction with their quality of life, underscoring both financial confidence and lifestyle security despite rising living costs and broader economic concerns. ADVERTISEMENT The report highlights a growing trend of portfolio evolution, where affluent Indian investors are increasingly turning toward alternatives, reducing idle cash, adding gold, and exploring international markets, with confidence and strategic clarity driving the shift. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
