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Bank of Baroda posts Q4 net loss of Rs 1,047 cr due to rise in provisions

Punjab & Sind Bank shares jump nearly 7% on Q4 profit - The Hindu BusinessLine

Punjab & Sind Bank shares jump nearly 7% on Q4 profit PTI New Delhi | Updated on May 24, 2021 In Q4FY21, the state-run bank turned in a profit following eight consecutive quarters of losses Shares of Punjab & Sind Bank on Monday jumped nearly 7 per cent as the company turned profitable in the fourth quarter of FY21 after eight consecutive quarters of losses. The stock rallied 6.60 per cent to ₹21.80 on the BSE. On the NSE, it jumped 6 per cent to ₹21.80. The state-run bank turned profitable in the fourth quarter of FY21 after eight consecutive quarters of losses, posting a profit after tax of ₹161 crore on the back of improvement in recoveries and decline in bad loans.

IDBI Bank has transformed into a retail bank: Samuel Joseph, Dy MD

May 24, 2021 Samuel Joseph J, Deputy Managing Director, IDBI Bank× We’ve utilised the prompt corrective action period to change our business mix and strengthening of balance sheet. During the four years that IDBI Bank was under prompt corrective action (PCA), it transformed itself from a predominantly corporate bank to a retail bank. And the Bank, which exited PCA on March 10, 2021, would like to keep it that way, according to Samuel Joseph J, Deputy Managing Director. In an interaction with BusinessLine, he emphasised that it had aggressively accelerated provisioning, over and above the regulatory requirement, in the past to strengthen its balance sheet. So, write back to profits in the next two to three years, whenever the recovery from stressed assets happens, will be about ₹7,500 crore. Excerpts:

Why the stock of Equitas Small Finance Bank is a good investment

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