Banking

Ujjivan Small Finance Bank reported a sharp 66% year-on-year drop in net profit for the first quarter of FY26, with earnings falling to Rs. 129 crore from Rs. 373 crore in the same period last year. The significant decline was attributed to a marked rise in provisions and contingencies, even as operating metrics remained relatively stable. Despite steady loan growth and deposit accretion, the higher provisioning levels—likely in anticipation of asset quality stress—impacted bottom-line performance.

Chanda Kochhar, the former chief executive of ICICI Bank, has been found guilty of receiving a Rs. 64-crore bribe in connection with the approval of a Rs. 300-crore loan to the Videocon Group. The court’s findings confirm longstanding suspicions of quid pro quo dealings between Kochhar, her husband Deepak Kochhar, and Videocon’s promoter, Venugopal Dhoot.

ICICI Bank reported a robust set of earnings for the first quarter of FY2025, with net profit rising 16% year-on-year to Rs. 10,636 crore, driven by strong loan growth, higher net interest income, and stable asset quality. The performance exceeded market expectations and led to a 3% rise in the bank’s share price during early trade. Backed by resilient margins, growing retail credit, and prudent risk management, ICICI Bank continues to consolidate its position as a leading private sector lender with a well-balanced growth strategy and consistent execution.

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IDBI Bank posted a strong financial performance for the first quarter of FY2025, registering a 17% year-on-year increase in net profit, which rose to Rs. 2,007 crore. The uptick was driven by improved asset quality, higher net interest income, and disciplined cost management. The bank also saw a healthy rise in operating profit and a further reduction in non-performing assets (NPAs), underscoring the strength of its ongoing restructuring efforts.

ICICI Bank reported a robust 16% year-on-year increase in net profit for the first quarter of FY2025, driven by healthy loan growth, improved asset quality, and strong operating metrics. The private sector lender posted a net profit of Rs. 11,981 crore for the quarter ended June 30, up from Rs. 10,636 crore in the corresponding period last year. Despite moderating net interest margins, the bank maintained earnings momentum through cost controls and higher fee-based income.

HDFC Bank, one of India's leading private sector lenders, has declared a 1:1 bonus issue, granting shareholders one additional equity share for every share held. This move is part of the bank’s broader capital management strategy and reflects its confidence in future earnings potential. The bonus issue aims to enhance shareholder value, increase stock liquidity, and broaden retail investor participation. The record date for determining eligibility has been announced, and the market has responded with heightened interest in the stock.

Union Bank of India has reported a 12% year-on-year increase in its net profit for the first quarter of FY26, reaching Rs. 4,116 crore. The rise in profitability was driven by improved interest income, a healthier asset profile, and robust operational performance. Despite a slight uptick in provisions, the bank maintained strong credit growth and reported better-than-expected asset quality figures. These results reflect a sustained turnaround for the public sector lender, supported by structural reforms, digital initiatives, and favorable macroeconomic conditions.

Central Bank of India reported a strong financial performance for the first quarter of FY25, posting a 33% year-on-year increase in net profit to Rs. 1,169 crore. This growth was supported by healthy expansion in net interest income, improved asset quality, and a decline in provisions. The state-owned lender’s operating metrics continue to show a positive trajectory, reflecting a strategic focus on retail lending, digital banking, and prudent risk management.

AU Small Finance Bank has reported a 16% year-on-year rise in net profit for the first quarter of FY26, reaching Rs. 581 crore. The performance was driven by robust loan book expansion, steady margins, and disciplined asset quality management. Net interest income and advances showed healthy growth, while the bank maintained a low level of non-performing assets, demonstrating resilience amid evolving macroeconomic conditions.

Axis Bank reported a 4% year-on-year drop in net profit for the first quarter of FY25, closing the period with earnings of Rs. 5,806 crore. The dip in profitability comes despite a steady rise in net interest income (NII) and loan growth, as the bank increased provisioning and experienced a marginal dip in fee income. While core banking metrics remained stable, a combination of higher operating expenses and conservative risk provisioning dragged down the bottom line.