Latest news with #IBPC
Mint
04-05-2025
- Business
- Mint
Microfinance stress, RBI embargo weighed on Kotak Bank's Q4 profitability
Mumbai: Kotak Mahindra Bank's profitability in the fourth quarter was dragged by stress in its microfinance portfolio and consequently slower growth in its agriculture and rural portfolio, even as the lender's operational metrics remained largely stable. The private sector lender's net profit in the December quarter fell 14% on-year to ₹ 3,552 crore. Sequentially, though, profit after tax was 7.5% higher. 'The microfinance business has gone through a very tough time, and that is what has contributed to the higher losses,' Kotak Mahindra Bank's managing director and chief executive officer Ashok Vaswani said in the post-earnings conference. Growth in the retail portfolio was also slow as the lender was unable to expand its high-yielding credit card book because of the Reserve Bank of India's embargo on the bank onboarding new customers. The embargo was lifted after 10 months in February. Vaswani said the bank's personal loan book saw good growth led by its acquisition of Standard Chartered India's personal loan portfolio in January. The corporate loan book also grew 'really well', he said. Customer assets, including advances and credit substitutes, rose 13% on-year to ₹ 4.8 trillion at the end of March. Loans, including inter-bank participation certificates (IBPC) and Bill Rediscounting Scheme (BRDS), were at ₹ 4.4 trillion, also up 13% on-year. Consumer loans were up 17% largely led by strong growth in mortgage, business banking and personal loans, whereas growth in the credit card business was 7% lower on-year. Commercial loans were up 6% on-year, with commercial vehicle, commercial equipment, and tractor finance seeing good growth. However, Kotak Mahindra Bank's agriculture portfolio grew a muted 1% on-year and its retail microcredit loan portfolio fell 33%. Corporate loans grew 6% and SME loans by 31%. 'Advances sort of reduced, but what we did was, we turned to build the credit substitutes such as commercial papers (CPs) and bonds etcetera,' deputy MD Shanti Ekambaram said, adding that the bank let go of some wholesale segments given the high pricing competitiveness in the segment. Vaswani said Kotak Mahindra Bank aims to grow its share of unsecured and personal loans to around 15% of its advances, compared with 10.5% now and around 12.7% before the credit card embargo and hit on microfinance. Unsecured retail advances, including retail microcredit, comprised 10.5% of net advances in the fourth quarter, mostly unchanged from a quarter ago and lower than 11.8% in the corresponding quarter of the previous year. Overall loan growth in 2025-26 is expected to be 1-1.5 times of GDP growth, Vaswani said, adding that Kotak Mahindra Bank aimed to maintain its credit-deposit (CD) ratio at 85-87%. The CD ratio was 85.5% on 31 March. Net interest income (NII) was up a muted 5% on-year at ₹ 7,284 crore. Net interest margin for the quarter was 4.97%. Chief financial officer Devang Gheewalla said NIM in the fourth quarter was supported by cuts on saving account rates and a financial year-end rise in average current account balances. Going forward, while higher lending in the unsecured credit card space would aid margins, overall, the margins would remain under pressure as the repricing on the liability side plays out, he said. The bank's gross non-performing assets ratio was 1.42% as of 31 March, worse than 1.39% a year ago but better than 1.50% in the previous quarter. Net NPA ratio at 0.31% had improved from 0.41% a quarter ago and 0.34% a year ago. Slippages during the fourth quarter were elevated at ₹ 1,488 crore, of which ₹ 135 crore were upgraded during the quarter itself. The bank wrote-off loans worth ₹ 873 crore during the quarter and saw recoveries and upgrades of ₹ 747 crore. Provisions were also high at ₹ 909 crore, significantly up from ₹ 794 crore a quarter ago and ₹ 264 crore a year ago. First Published: 4 May 2025, 11:12 AM IST
Economic Times
30-04-2025
- Business
- Economic Times
Bandhan Bank Q4 results: Profit zooms 483% YoY to Rs 318 crore, but NII falls 4%
Bandhan Bank reported a strong set of numbers in the March quarter as its profit soared 483% YoY to Rs 318 crore as compared to just Rs 55 crore in the year-ago period. ADVERTISEMENT Net interest income (NII) for the fourth quarter however came at Rs 2,756 crore compared to Rs 2,859 crore in Q4FY24, representing a degrowth of 4% YoY. Operating profit in the reporting period stood at Rs 1,571 crore in the fourth quarter as against Rs 1,838 crore in the same period last year. The provisions (other than tax) and contingencies charged to the profit and loss for Q4FY25 were lower at Rs 1,260 crore compared to Rs 1,774 crore in Q4FY24. The collection efficiency for EEB loans was at 97.8% for Q4 FY25, slightly higher than 97.4% in coverage ratio (including technical write-offs) as of March 2025 stood at 86.5% versus 84.5% in the previous year. Excluding technical write-off, PCR stands at 73.7%. As of March 31, 2025, total deposits stood at Rs 1.51 lakh crore as against Rs 1.35 lakh crore in the previous year – a growth of 12% YoY. CASA Deposits stood at Rs 47,437 crore and CASA Ratio stood at 31.4%; CASA + Retail TD to total deposit ratio stands at around 69% ADVERTISEMENT Gross Advances rose 10% YoY to Rs 1.37 lakh crore as of March 2025, as against Rs 1.25 lakh crore in the previous year. On a YoY basis, retail book (other than housing) grew 98%, Wholesale Banking grew 35%, and the Housing book showed a growth of 11% (18% YoY excluding IBPC). On Wednesday, Bandhan Bank shares closed 1.8% lower at Rs 165 on NSE. (You can now subscribe to our ETMarkets WhatsApp channel)
Zawya
29-04-2025
- Business
- Zawya
IBPC Dubai Annual Conclave 2025 highlights strengthened ties and shared vision between India and the UAE
Dubai, United Arab Emirates: In an evening of reflection and renewed purpose, the Indian Business & Professional Council (IBPC Dubai) hosted its much anticipated 22nd Annual Conclave at the Taj Exotica, Dubai this past weekend. The event welcomed over 350 members, business leaders, diplomats, and dignitaries, including the gracious presence of the former President of India, HE Shri Ram Nath Kovind, and Consul General of India to Dubai, H.E. Satish Sivan. The conclave served as a powerful platform to highlight the growing Indo-UAE strategic partnership and IBPC Dubai's pivotal role in advancing bilateral relations, fostering innovation, and enabling impactful collaborations. The evening unfolded with a powerful cultural performance, 'Miracle on Wheels: A Story of Strength and Spirit,' featuring artists of determination under the guidance of founder Syed Sallauddin Pasha whose moving display of resilience and creativity set the tone for a night dedicated to progress and partnership. Renowned chartered accountant and IBPC Dubai Secretary General Dr. Sahitya Chaturvedi, in his annual presentation, noted, 'IBPC Dubai has conducted over 51 programs in the past year. We are not just growing—we are evolving,' as he highlighted the council's inclusive engagement, including the recognition of Life Members and senior legends, interactive platforms for women, and the active participation of youth in IBPC initiatives. This comes amid a dynamic shift in IBPC's membership strategy, now reimagined to be more inclusive of women, youth, and emerging professionals, as the Council broadens its reach and deepens engagement with a wider audience. IBPC Dubai Chairman Siddharth Balachandran emphasized the enduring friendship between India and the UAE, rooted in 'strong ideas and stronger execution.' He added, 'IBPC Dubai is here to aspire and ascend. We are all cogs in the wheel driving toward one common destination—excellence.' He was followed by HE Satish Kumar Sivan, Consul General of India, who confirmed that bilateral trade has surged past $100 billion in 2025, a remarkable rise from $84 billion in March 2024, across sectors including technology, education, healthcare, and innovation. He also paid tribute to IBPC member Dr. Ram Buxani, a pioneering figure in the Indian diaspora, who passed away last year. Introducing the evening's keynote speaker, IBPC Dubai Vice Chairman Sunil Sinha paid tribute to HE Shri Ram Nath Kovind, Former President of India, describing him as 'a leader who embodies dignity and humility—his life a quiet testament to perseverance, to choosing values over visibility, and to the belief that public service is the noblest calling. He brought grace to the highest office and remains a true inspiration to us at IBPC Dubai, reminding us that real leadership builds bridges across nations.' Taking the stage to sustained applause, Former President Kovind delivered a moving address that echoed these sentiments. Reflecting on leadership, legacy, and the power of service, he spoke passionately about the role of elders in shaping society. 'Senior citizens bring wisdom, maturity, and compassion,' he said. 'Their stories are India's stories. I salute individuals like Mr. Vasu Shroff, whose life journey embodies global recognition and quiet perseverance.' President Kovind also highlighted the rapidly strengthening relationship between India and the UAE, recalling the landmark 2015 visit of Prime Minister Narendra Modi, and the recent diplomatic milestones achieved during the Crown Prince of Dubai's visit to India. 'We are witnessing a system of evolution,' he observed. 'India and the UAE are partners not only in trade but in vision.' Underscoring the economic momentum, he noted that as India rises to become the world's third-largest economy and its startup ecosystem ranks third globally, the UAE continues to be one of India's most significant investors. The shift towards bilateral trade in local currencies (INR and AED), he said, is a clear signal of deepening strategic ties. In a moment of quiet pride, he acknowledged the 16 Pravasi Bharatiya Samman Awardees in the UAE—the highest honour conferred on overseas Indians—as symbols of the diaspora's profound contributions. He also spoke of the spiritual harmony embodied by the BAPS Hindu Temple, standing alongside a mosque and a church, as a beacon of interfaith tolerance and unity. The night concluded with a vote of thanks delivered by IBPC Dubai Governor Skandan Mahalingam and an invigorating call to action: 'IBPC is not just a council—it is a movement. A movement that reflects the vision of a Viksit Bharat and the inclusive future we're building together.' A special note of appreciation was extended to key IBPC members including Eugene Mayne, Founder and CEO Of Tristar Group, Dr. K. P. Hussain, Chairman and Managing Director of Fathima Healthcare Group, and Mr. Ankur Gupta, Head - Corporate Affairs & Growth, Tata Sons MENA, for their continued partnership and unwavering support in advancing IBPC Dubai's mission.
Arabian Business
02-04-2025
- Business
- Arabian Business
Former Indian president Kovind to be chief guest at IBPC Dubai conclave
The Indian Business and Professional Council (IBPC Dubai) announced former Indian President Ram Nath Kovind as the chief guest for its 22nd Anniversary Conclave in Dubai. The conclave, slated to be held on April 25, will focus on strengthening India-UAE bilateral relations, exploring opportunities for Indian businesses and professionals in the UAE, and aligning India's development goals with the UAE Vision 2030. The event will also serve as a platform for discussions on policy advocacy, advancements in the digital economy, and enhancing collaboration between the entrepreneurs of the two nations, IBPC said. Former India PM Ram Nath Kovind to visit Dubai The upcoming event will focus on several key areas aligned with the theme of 'Viksit Bharat', aimed at fostering India's growth and strengthening its global ties. Key topics will include the digital economy, which will explore strategies to enhance transparency and efficiency in digital trade, especially the digital clearance of transactions. Additionally, discussions will also focus on cross-border transactions in local currency, which can drive efficiency in trade between the two nations and create a more seamless business environment, it said. Several significant initiatives and partnerships are also expected to be announced at the anniversary conclave, IBPC Dubai said. These include the launch of the 'Viksit Bharat' series, which aims to promote sectoral investments in India, with planned delegations focusing on key states like: Uttar Pradesh Madhya Pradesh Kerala Assam Gujarat Goa The initiatives aim to attract global investors, particularly in the tourism and sustainable development sectors, fuelling growth and innovation across India's diverse regions. 'As we mark our 22nd anniversary, this conclave will be a testament to our continued commitment to fostering stronger ties between India and the UAE,' said Siddharth Balachandran, Chairman of IBPC Dubai.
Zawya
18-03-2025
- Business
- Zawya
IBPC Dubai unveils affiliate tier to empower women and youth entrepreneurs
Accelerating Growth and Opportunity for the UAE's Indian Business Community Focused on Networking, Advocacy, Mentorship, and Visibility for Women and Youth Entrepreneurs Dubai, United Arab Emirates: A recent Mastercard study found that entrepreneurship is nearly equally embraced by both genders in the UAE, with 49 percent of women and 47 percent of men surveyed identifying as entrepreneurs, highlighting the country's dynamic business environment. Taking these pertinent statistics into account, the Indian Business and Professional Council (IBPC Dubai) has introduced a groundbreaking new membership category designed to empower women and young professionals. This newly launched Affiliate Tier, priced at just AED 500, aims to provide a powerful platform for women of all ages and individuals under the age of 45, offering them essential resources, mentorship, and networking opportunities to thrive in the UAE's dynamic business environment. The new membership category is part of IBPC's ongoing commitment to creating a more inclusive business community, focusing on diversifying leadership across sectors. By offering affordable membership, IBPC aims to elevate emerging voices in business, helping youth and women entrepreneurs gain access to invaluable opportunities for growth. As businesses led by women and youth continue to drive innovation and economic expansion in the UAE, the Affiliate Tier stands as a critical tool for supporting this wave of transformation. 'The Affiliate Tier is a significant step in creating a more inclusive and dynamic business landscape. It represents IBPC's commitment to ensuring that all entrepreneurs—especially women and youth—have the support, tools, and networks needed to excel,' said Siddharth Balachandran, Chairman of IBPC. 'We are excited to see how this initiative will empower the next generation of leaders and contribute to the continued growth and success of our community. Women and youth bring fresh perspectives, creativity, and resilience that will drive innovation and inspire lasting change within the IBPC cadre. Additionally, with the removal of size-based distinctions for corporate members in favour of a benefits-based approach, we are ensuring greater flexibility and value for our members. Existing memberships will automatically be mapped to new tiers for a seamless transition, minimizing financial impact while keeping membership fees competitive. Our commitment to good governance remains steadfast, and we will continue to deliver sustained value through meaningful connections, opportunities, and insights.' In addition to this new, affordable membership offering, IBPC has also introduced a more streamlined and inclusive approach to its broader membership categories. These tiers have been thoughtfully designed to meet the varied needs of professionals at different stages of their business journeys, ensuring they have the right resources, networks, and opportunities to thrive. The Silver membership provides essential benefits such as voting rights, access to events, and focus group membership. The Gold membership offers additional advantages, including exclusive event access, company spotlight features, and membership in advocacy platforms. For those looking for even more tailored support, the Platinum membership includes dedicated event curation, speaker opportunities, and personalized advocacy interventions. At the pinnacle of this membership structure is the Diamond tier, an exclusive, lifetime membership that offers mentorships, access to premium business opportunities, and the ability to leverage IBPC's extensive network in the UAE. This tier ensures that members receive unmatched support and visibility in the region's competitive business landscape. 'Together, these initiatives reflect IBPC's unwavering commitment to fostering an inclusive, diverse, and dynamic business community in the UAE. By empowering women, youth, and professionals from all backgrounds, IBPC continues to drive the growth and success of its members, creating opportunities for the next generation of leaders to shine,' added the Chairman. This membership restructuring announcement was made at a special Women's Day event, where Vice Chairman of the Guru Nanak Darbar Gurudwara, Mrs. Bubbles Kaur Khandari, was felicitated. Panellists included Dr. Nahla Abdul Razzaq Kazim, founder and CEO of Kazim's Fertility Barza, educator and entrepreneur Ms. Chetna Buxani Shastri, CEO of E-movers Siddhi Joshi, with the moderator being CEO of Evolvitude, Ms. Neetu Chandra. The event was MC'd by branding and strategic communications consultant Stuti Sinha, with the opening address given by Member Ms. Jaya Mahalingam, Director at Ideal Capital Management Consultants, Dubai and the vote of thanks presented by Ms. Gomathi Seetharaman, health and wellness champion & Founder, Arogya Yatra. Haya Mashhood, philanthropy consultant, unveiled the new membership categories sharing pertinent details.
