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06 Nov

Strong Quarter Two Performance and ROA Outlook Boost ICICI Bank Stock Momentum

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ICICI Bank's stock continued its strong upward momentum, reaching an all-time high of ₹1,526.35 after gaining 2 percent during intraday trading on the BSE on Friday. The private sector lender has experienced a robust rally, rising 7 percent over the past two trading sessions and climbing 10 percent across four consecutive days of gains. This impressive performance easily outpaced the benchmark BSE Sensex, which gained 0.56 percent to reach 79,757 during morning trading. Driven by this sharp price appreciation, ICICI Bank's total market capitalisation surged toward a historic ₹11 trillion landmark, touching ₹10.96 trillion in intraday deals according to data…

04 Nov

SBI Drives Sector-Wide Cyber Defense Initiative Alongside Robust Q2 Financial Results

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State Bank of India (SBI), the nation's largest lender, has initiated a strategic movement alongside the Indian Banks’ Association (IBA) to establish a structured, industry-wide framework for real-time cyber threat intelligence sharing among financial institutions. Speaking on the critical necessity of this cooperative infrastructure, SBI Chairman C.S. Setty emphasized that while current protocols mandate reporting security incidents to regulatory bodies and state law enforcement agencies, creating an official peer-to-peer network among banks is essential for executing swift, preventive counter-measures. As financial entities rapidly accelerate digital adoption, the expanding technological attack surface presents unprecedented security vulnerabilities that require collective vigil. Setty…

29 Oct

SBI Funds Management Expands Market Presence with 10% Surge in QAAUM

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SBI Funds Management Ltd, the asset manager for SBI Mutual Fund, has demonstrated solid business expansion as its quarterly average assets under management (QAAUM) grew by 10 per cent year-on-year to reach ₹13.1 trillion for the quarter ending September 30, 2026. This sustained asset growth was matched by strong financial metrics, with the company reporting a 12 per cent year-on-year increase in operating revenue to ₹2,336 crore for the first half of the financial year. Meanwhile, operating profit for the same six-month period climbed 11 per cent to ₹1,797 crore, showing steady overall performance even as operational profitability gains grew…

15 Oct

Canada’s Fairfax Financial Acquires 60.72% Stake in IDBI Bank for Rs 52,878 Crore in Landmark FDI Transaction

nanikaBanking

The recent announcement regarding the government and the Life Insurance Corporation of India divesting a combined 60.72 percent stake in IDBI Bank to Canada-based Fairfax Financial Holdings Limited for Rs 52,878 crore has marked a historic milestone as India's largest foreign direct investment in the financial sector, yet the agreed deal price of Rs 81 per share has come as a major disappointment to market participants who anticipated valuations ranging between Rs 100 and Rs 110 apiece based on pre-West Asia conflict trading levels earlier in the year. Analysts point out that despite this sharp pricing discount and the significant…

03 Sep

RBI Swap Facility Boosts International Banking Activity at GIFT City

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Indian banks operating through International Banking Units (IBUs) at GIFT City’s International Financial Services Centre (IFSC) have sanctioned loans worth $54.02 billion under the Reserve Bank of India’s swap facility for FCNR(B) deposits as of August 31, 2026. The amount has risen sharply from $4.1 billion sanctioned by 14 IBUs on July 15, reaching $18.87 billion by July 31 and accelerating to $54.02 billion by the end of August, with 20 IBUs now participating in the scheme. The rapid increase highlights growing demand for foreign currency funding through GIFT IFSC and the expanding role of its financial services infrastructure. IBUs…

21 Aug

Fairfax’s IDBI Bank Bid Moves Closer as CSB Stake Issue Emerges

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Canada’s Fairfax Financial, a frontrunner for acquiring the government and LIC’s stake in IDBI Bank, may be given up to two years to consolidate its existing banking interests in India, according to sources. The proposed transaction, valued at more than $5 billion, would be the largest foreign investment in an Indian bank and is currently in the final stages of approval. Under Reserve Bank of India rules, an entity cannot own and operate two separate banks. Fairfax owns around 40% of CSB Bank, creating a regulatory requirement if it acquires control of IDBI Bank. Sources said Fairfax could either sell…

20 Aug

HDFC Bank Eyes $1 Billion Overseas Debt Raise Through Dollar Bonds

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HDFC Bank is returning to the dollar bond market for the second time in two months, with plans to raise at least $1 billion through overseas debt issuance as Indian banks accelerate fundraising ahead of the Reserve Bank of India’s special foreign-exchange swap window closing on August 31. The lender plans to issue at least $500 million each through three-year and five-year bonds via its GIFT City branch, with final pricing expected by Friday. Bankers said the issue could exceed $1 billion depending on investor demand. If completed, the latest transaction would take HDFC Bank’s total proceeds from dollar bond…

18 Aug

Axis Bank Hikes FCNR(B) Rates as Banks Step Up Overseas Fund Mobilisation

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Axis Bank, India’s third-largest private sector lender, has raised the interest rate on FCNR(B) deposits of more than $1 million to 6.40% for three- to five-year maturities, effective August 17, making it the highest rate offered by a large Indian bank. The move follows the Reserve Bank of India’s decision to shorten the concessional swap window for FCNR(B) deposits. Axis Bank had earlier offered 6.25% on deposits above $1 million, while the rate for deposits below $1 million now stands at 6.25%. In comparison, HDFC Bank and ICICI Bank continue to offer 6.25%, while State Bank of India offers 6%…

14 Aug

ICICI Bank Leads Offshore Fundraising Wave Driven by Central Bank Incentives

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ICICI Bank Ltd. has launched a $1.45 billion syndicated offshore loan, joining a growing wave of Indian lenders tapping international debt markets to benefit from lower hedging costs. The nation’s second-largest private bank initially signed a $1 billion agreement with Bank of America Corp. and is now expanding the four-year deal—priced at a margin of 110 basis points over SOFR—to lenders including Mizuho Bank, Mashreqbank, and United Overseas Bank. This borrowing follows ICICI Bank’s $1 billion five-year bond sale last month, its first international issuance in nearly a decade, alongside talks for an additional $500 million in offshore bonds. The…

04 Aug

HDFC Bank Offers Higher Dollar Deposit Rates to Attract Overseas Funds

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HDFC Bank, India’s largest private sector lender, has increased the interest rate on its three- to five-year Foreign Currency Non-Resident (Bank) [FCNR(B)] dollar deposits by 25 basis points to 6.25 per cent from 6 per cent. The revised rate came into effect from August 1 as banks step up efforts to attract foreign currency deposits under the Reserve Bank of India’s (RBI) concessional swap scheme. The rate hike comes at a time when the RBI’s special swap window is entering its final two months, a period expected to witness increased mobilisation of FCNR(B) deposits. Banks are focusing on attracting overseas…