EXPLAINED: Business financial services - The Real Truth

Punjab National Bank eyes Rs 6,000 crore quarterly profit after record September earnings

Punjab National Bank reported a record quarterly net profit of Rs 5,532 crore for September 2026. The bank's core operating profit grew by around 29 percent year-on-year despite treasury losses of Rs 1,000 crore. PNB aims to achieve Rs 6,000 crore in net profit in the upcoming quarters due to…

The Economic Times · 1h ago

Sumitomo-backed Yes Bank pegs AT1 bond verdict hit at Rs 5,217 crore

Yes Bank's reported profit for the September quarter could have turned into a loss due to the AT1 bond ruling. The bank's CET-1 ratio would drop significantly if the Supreme Court's decision is fully implemented. Investors are concerned as mutual funds pause investments in the bank's AT1 bonds. Yes Bank…

The Economic Times · 4h ago

Labor knew in July, months earlier than previously admitted, that ATO planned to ban credit card payments

Assistant treasurer Daniel Mulino says ‘what we did was to insist there be a transition period’. Since then government has pushed back change to mid-2027

The Guardian - AU · 11h ago

HDFC Bank deputy MD Kaizad Bharucha to step down on December 31

HDFC Bank Deputy Managing Director Kaizad Bharucha has sought to step down on December 31, 2026, amid a leadership transition at the lender. The RBI has approved Anup Bagchi’s appointment as CEO for a three-year term starting October 27.

The Economic Times · Oct 17

ICICI Bank Q2 Results: Net profit jumps 20% YoY to Rs 14,843 crore, NII rises 18%

ICICI Bank Q2 Results: Private lender ICICI Bank reported a net profit of Rs 14,843 crore in the second quarter of financial year 2027, marking 20.1% year-on-year increase from Rs 12,359 crore posted in the same period last year.

The Economic Times · Oct 17

IDBI Bank Q2 results: Net profit tanks 39% YoY to Rs 2,205 crore; NII dips 49% YoY

IDBI Bank reported a 39% year-on-year profit decline to Rs 2,205 crore in Q2 FY27, impacted by a one-off gain in the previous year. Excluding this, profit rose 14%. Asset quality improved, deposits grew 17%, advances increased 18%, and net interest margins strengthened sequentially to 4.11%.

The Economic Times · Oct 17

HDFC Bank Q2 Results: Net profit rises 5% YoY to Rs 19,510 crore; NII grows 10%

HDFC Bank Q2 Results: India’s largest private lender HDFC Bank on Saturday reported a net profit of Rs 19,509 crore for the second quarter of FY27, marking a 4.6% year-on-year jump from Rs 18,641 crore posted in the same period last year.

The Economic Times · Oct 17

Axis Bank Q2 Results: Net profit jumps 38% YoY to Rs 7,003 crore, NII rises 12%

Axis Bank Q2 Results: Private lender Axis Bank on Saturday reported a net profit of Rs 7,003 crore for the second quarter of FY27, marking a jump of 38% from Rs 5,089 crore posted in the corresponding quarter of the previous financial year.

The Economic Times · Oct 17

US pushes World Bank to scrap oil, gas funding curbs in major energy policy overhaul

US Treasury Secretary Scott Bessent has called for the World Bank to end its restrictions on upstream oil and gas projects. He emphasized that developing countries require reliable and affordable energy for economic growth and job creation. Bessent highlighted the need for a technology-neutral approach to energy financing to address…

The Times of India · Oct 17

Fairfax's IDBI buy: Biggest-ever banking M&A deal in India had no investment bankers

Fairfax Financial Holdings’ $5.6 billion acquisition of a controlling stake in IDBI Bank is significant not just for being the biggest foreign investment in India’s banking sector, but also because the transaction was handled without the involvement of major investment banks. Fairfax and IDBI Bank did not launch a formal…

The Economic Times · Oct 17