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19 September 2021
12:51 hour

Punjab & Sind Bank inks alliance with Indiabulls Commercial Credit and Indiabulls Housing Finance

Money Works 4 Me

14/09/2021 - 14:59

The co-lending model would help the bank enhance its Retail and MSME portfolio and boost lending to MSME sector


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Related headlines:

  1. Indiabulls Housing Finance net at Rs 329 cr, aims to raise disbursements via co-lending (12/02/2021 - Financial Express)
    Ashwini Kumar Hooda, deputy managing director (DMD), Indiabulls Housing Finance, said that retail disbursements have crossed Rs 2,500 crore this quarter.
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  2. Indiabulls Housing Finance to launch Rs 1,000-cr public issue of bonds next week (03/09/2021 - Financial Express)
    The public issue is of secured/and or unsecured, redeemable, non-convertible debentures of face value of Rs 1,000 each, Indiabulls Housing said in a release.
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  3. Rakesh Jhunjhunwala buys 1 crore shares of Indiabulls Housing Finance in Apr-Jun 2021; stock surges 5% (22/07/2021 - Financial Express)
    Rakesh Jhunjhunwala acquired 1 crore shares or a 2.17 per cent stake in Indiabulls Housing Finance firm in the April-June quarter of FY22
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  4. Yes Bank inks pact with Indiabulls Housing Finance (29/07/2021 - Money Works 4 Me)
    The partnership aims at synergising capabilities to provide an efficient and seamless experience to retail home loan customers
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  5. Indiabulls Housing Finance to sell its mutual fund business for Rs 175 crore (11/05/2021 - Financial Express)
    The sale of Indiabulls Asset Management Company will be limited only to the MF part of the business, whilst the alternate investment fund (AIF) and portfolio management service (PMS) businesses will be demerged from the existing IBAMC structure.
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  6. Indiabulls Housing Finance, Yes Bank come forward for strategic co-lending tie-up (29/07/2021 - Money Works 4 Me)
    Under this strategic co-lending agreement, they will offer home loans to homebuyers at competitive interest rates
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  7. Indiabulls Housing Finance reports marginal rise in Q1 consolidated net profit (06/08/2021 - Money Works 4 Me)
    Total income of the company decreased by 9.79% at Rs 2325.75 crore for Q1FY22
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  8. Stocks on focus: Vodafone Idea, Indiabulls Housing Finance, SIS, Nestle, Varun Beverages (16/02/2021 - Financial Express)
    Since the Union Budget, Both the benchmark indices, S&P BSE Sensex and NSE Nifty 50 have gained over 12% each.
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  9. Indiabulls Housing Finance looking to raise around Rs 7500 crore (15/02/2021 - Financial Express)
    “We are in market for international bonds, that should give us Rs 1,500 crore, bank lines should give us Rs 2,000-3,000 crore more,” he added. Overall, in the next two months, we expect around Rs 7,500 crore coming to the company,” the DMD added.
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  10. Indiabulls Housing Finance to launch Rs 1,000 crore public issue of bonds (03/09/2021 - Money Works 4 Me)
    The tranche I issue will open on September 6 and close on September 20, 2021
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  11. HDFC, Indiabulls Housing, ICICI Bank, Nestle India, ONGC, Tata Steel among stocks in focus (22/04/2021 - Financial Express)
    SGX Nifty points at a gap-up opening for domestic equity benchmarks BSE Sensex and Nifty 50 on Thursday.
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  12. Reliance Infra sells Reliance Centre to Yes Bank for Rs 1,200 crore (02/04/2021 - Financial Express)
    FE has learned Reliance Centre may soon be the new address of Yes Bank as the lender is likely to convert the building as its corporate headquarters. The bank currently operates from Indiabulls Finance Centre in Lower Parel, Mumbai.
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  13. Indiabulls Housing Finance gets CCI approval to divest mutual fund business (13/09/2021 - Money Works 4 Me)
    Divestment of the mutual fund business is aimed at focussing on its retail estate asset management business, as it is not the core focus area of the company
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  14. Indiabulls Housing, HDFC ink pact for co-lending to offer housing loans at competitive rates (21/04/2021 - Financial Express)
    The technology-led co-lending is expected to help both the companies to offer a convenient and seamless experience to its customers as well as help expand their reach to tier III and IV cities in India.
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  15. Punjab & Sind Bank turns black in Q1 (29/07/2021 - Money Works 4 Me)
    Total income of the bank increased 4.36% at Rs 2039.61 crore for Q1FY22
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  16. We are not chasing balance sheet growth: Gagan Banga, MD & CEO, Indiabulls Housing Finance (01/06/2021 - Financial Express)
    We are trying to make a very good base for the asset-light model we have created. So, to have a good base we have to focus on fortifying our balance sheet. We have raised around Rs 3,800 crore of capital and our capital adequacy ratio is over 30% till March 2021.
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  17. Punjab & Sind Bank returns to profit after 8 quarters of losses (23/05/2021 - Financial Express)
    Net NPA almost halved to 4.04% from as much as 8.03% a year earlier.
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  18. RBI imposes penalty of Rs 25 lakh on Punjab and Sind Bank (03/07/2021 - Money Works 4 Me)
    The Reserve Bank of India has imposed a penalty for non-compliance with certain provisions of directions on 'Cyber Security Framework in Banks'
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  19. Punjab & Sind Bank sets off accumulated losses of Rs 3,577 crore (24/08/2021 - Money Works 4 Me)
    Setting-off of the accumulated losses will present a true and fair view of the financial position of the bank
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  20. Loan delinquencies materially increased in SME, retail segments; NPLs may jump 50% in 2 years: Moody’s (26/08/2021 - Financial Express)
    Credit and Finance for MSMEs: The retail and SME NPL ratio has increased at most banks rated by Moody’s. This included Punjab National Bank, Union Bank of India, Bank of Baroda, Yes Bank, ICICI Bank, IndusInd Bank, Axis Bank, and HDFC Bank.
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  21. All PSBs, REC to buy stakes in bad bank; Indian Banks’ Association files application for incorporation of NARCL (25/06/2021 - Financial Express)
    Not just large lenders but all public-sector banks (PSBs), barring Punjab & Sind Bank, have evinced interest in picking up stakes in the so-called bad bank, one of the sources said.
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  22. MSME loan share in commercial loans by value jumps over 50% in five years: Report (19/09/2021 - Financial Express)
    Credit and Finance for MSMEs: The share of bank credit to micro and small enterprises in India’s total gross bank credit was 10.07 per cent in July, as per the RBI data.
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  23. Indiabulls looking to exit ARC business, in talks for loan portfolio sale (19/03/2021 - Financial Express)
    “IARCL has decided to exit the asset reconstruction (ARC) business a few months back after assessing market conditions,” said one person aware of the development. The decision was taken before the announcement of the bad bank by the government.
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  24. Lilium inks $1B commercial deal & strategic alliance with Azul (02/08/2021 - Seeking Alpha)

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  25. Bank credit to micro, small businesses up over 6% in December from year-ago amid Covid, shows RBI data (02/03/2021 - Financial Express)
    Credit and Finance for MSMEs: MSME sector accounted for a share of around 18 per cent in the total credit to the industry and around 5 per cent in the total non-food credit extended by the scheduled commercial banks.
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  26. SME lending, procurement startup OfBusiness gets $110M from Falcon Edge, Matrix Partners, others (11/04/2021 - Financial Express)
    Credit and Finance for MSMEs: Over the last year, OfBusiness secured $200 million in debt from over 40 lending partners including IDFC First, Kotak, SBI, Bank of Baroda, Bank of India, Punjab National Bank, ICICI, HDFC, and others.
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  27. Indiabulls Real Estate reports consolidated net profit of Rs 5 crore in Q1 (09/08/2021 - Money Works 4 Me)
    Total consolidated income of the company jumped by around 6-fold at Rs 532.03 crore for Q1FY22
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  28. PMEGP: PM Modi’s pet scheme disburses Rs 1,300 cr subsidy in FY21 so far; Bank of Baroda leads tally (22/02/2021 - Financial Express)
    Credit and Finance for MSMEs: Bank of Baroda had disbursed the highest subsidy amount of Rs 143 crore across 3,402 projects followed by Rs 129 crore in 4,695 projects disbursed by Punjab National Bank, Rs 119 crore disbursed in 3,576 projects by Canara Bank, etc.
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  29. Punjab & Sind Bank back in black on higher other income, lower provisions (30/07/2021 - Financial Express)
    While the advances of the lender grew 10% y-o-y to Rs 67,933 crore, deposits grew 16% y-o-y to Rs 98,478 crore. Current accounts and savings account (CASA) deposits grew by 14.29% y-o-y to Rs 30,832 crore.
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  30. Lanco Infratech declared as ‘fraud’ account by Punjab & Sind Bank (17/06/2021 - Financial Express)
    “It is informed that an NPA account Lanco Infratech Limited with outstanding dues of Rs 215.17 crore has been declared as fraud and reported to RBI today as per regulatory requirement,” the lender said .
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  31. PNB inks deal with Indian Oil to provide up to Rs 2 crore loan to dealers (10/02/2021 - Financial Express)
    Punjab National Bank (PNB) signed a memorandum of understanding (MoU) with India Oil Corporation Ltd to cater to the financing needs of the IndianOil dealers, the bank said in a release.
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  32. LIC Housing Finance inks strategic partnership with India Post Payments Bank (07/09/2021 - Money Works 4 Me)
    IPPB will make LICHFL’s home loan products accessible to its customer’s pan-India
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  33. No error of judgement in PNB Housing Finance deal: PNB MD (03/08/2021 - Financial Express)
    While speaking at a conference on the bank’s June quarter earnings, Rao said PNB is awaiting a decision from the Securities Appellate Tribunal (SAT) on the PNB Housing Finance-Carlyle deal as it is a matter of interpretation of law.
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  34. BRICS Women’s Business Alliance: Need for Credit Guarantee Fund, VC Fund to support women entrepreneurs (12/09/2021 - Financial Express)
    Credit and Finance for MSMEs: To promote women participation in technology and innovation-led sectors, the alliance recommended BRICS a distance learning educational platform for women to learn different uses of technology and creating access to resources to learn and upskill.
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  35. PM Modi’s Standup India: Loans to SC/ST, women entrepreneurs jump 21%; sanctioned amount nears Rs 25k cr (10/02/2021 - Financial Express)
    Credit and Finance for MSMEs: The scheme was launched to facilitate credit from Rs 10 lakh to Rs 1 crore to at least one SC/ST borrower and at least one woman borrower per bank branch of scheduled commercial banks for setting up their businesses in the manufacturing, services, or trading sectors.
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  36. Vakrangee inks pact with Punjab National Bank (27/08/2021 - Money Works 4 Me)
    The company is well on track to increase the operational NextGen store footprint from current 11,900 to 25,000 stores by March 2022
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  37. MSE credit growth slips into red first time since Covid last year; share in gross bank credit declines (04/07/2021 - Financial Express)
    Credit and Finance for MSMEs: The share of MSEs in India’s gross bank credit continued to decline for the fourth straight month from 12.11 per cent in December 2020 to 9.7 per cent in April 2021.
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  38. NHB mulls entity for securitisation; housing finance to get a leg-up (22/06/2021 - Financial Express)
    This special purpose entity (SPE) is expected to be established as a non-banking financial company (NBFC) and regulated by the Reserve Bank of India (RBI). The entity will help deepen the securitisation market, resolve bad loans and widen funding avenues for housing finance companies (HFCs).
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  39. RHFL defaults on interest payment of Rs 31.32 crore (25/05/2021 - Financial Express)
    The list of lenders includes Bank of Baroda, Punjab National Bank, ICICI Bank, HDFC Bank, Canara Bank, Bank of India and Indian Bank, among others.
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  40. MSE credit growth remains in red for third straight month in June; share in gross bank credit up (26/08/2021 - Financial Express)
    Credit and Finance for MSMEs: Bank credit to medium enterprises reported a 63.2 per cent YoY growth to Rs 1.88 lakh crore in June 2021 from Rs 1.15 lakh crore in June 2020.
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  41. Bank lending to small businesses sees positive growth in July; share in gross bank credit improves (01/09/2021 - Financial Express)
    Credit and Finance for MSMEs: From 12.11 per cent in December 2020, MSEs’ share in gross bank credit had contracted to 12.09 per cent in January 2021, 11.8 per cent in February, 11.3 per cent in March, 9.7 per cent in April, and 9.48 per cent in May before it improved to 9.55 per cent in June.
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  42. MSME credit gap: How Bitcoin, Ethereum, other crypto investors may address small business liquidity crisis (13/05/2021 - Financial Express)
    Credit and Finance for MSMEs: Of Rs 95.69 lakh crore gross bank credit outstanding as of February 26, 2020, the share of MSE lending stood at only 11.8 per cent, down from 12.09 per cent share in the overall Rs 94.97 lakh crore gross bank credit deployed in January 2021.
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  43. YoY bank credit growth to MSEs highest in February even as share in overall credit continues to decline (27/04/2021 - Financial Express)
    Credit and Finance for MSMEs: MSEs’ share in Rs 95.69 lakh crore gross bank credit outstanding as of February 26, 2020, stood at 11.8 per cent down from 12.09 per cent share in the overall Rs 94.97 lakh crore gross bank credit in January 2021 and 12.11 per cent in December 2020.
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  44. Bank credit to small businesses jumps 6.4% in January; MSEs’ share dips marginally (23/03/2021 - Financial Express)
    Credit and Finance for MSMEs: MSEs had a 12.09 per cent share in the overall Rs 94.97 lakh crore gross bank credit deployed in January 2021, down from 12.11 per cent in December 2020.
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  45. American Shared Hospital Services inks $22M credit agreement with Fifth Third Bank (13/04/2021 - Seeking Alpha)

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  46. MSE credit growth slips for second straight month in May; share in gross bank credit further dips to 9.48% (19/07/2021 - Financial Express)
    Credit and Finance for MSMEs: The YoY growth in credit deployment to medium enterprises had remained strong at 64.7 per cent – Rs 1.83 lakh crore in May 2021 from Rs 1.11 lakh crore in May 2020.
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  47. Punjab National Bank, SBI Life among top mutual fund buys in May; here’s what AMCs bought, sold (17/06/2021 - Financial Express)
    Punjab National Bank, SBI Life Insurance Company, and Indus Towers were the three top large-cap buys by Mutual Funds in the month of May.
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  48. Aptus Value Housing Finance IPO opens: Grey market premium weak; should you subscribe? (10/08/2021 - Financial Express)
    Aptus Value Housing Finance Rs 2,780.05-crore IPO has opened for subscription on Tuesday, at a price band of Rs 346-353 per share.
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  49. DXC tapped for First Horizon Bank's commercial credit card processing (21/04/2021 - Seeking Alpha)

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