Day: July 4, 2020

Mumbai: Top private lender HDFC Bank on Saturday said its advances grew 21 per cent at the end of June, from a year ago, while deposits rose 25 per cent.In an exchange filing, the private sector lender said its advances as of June 30 rose to Rs 10,04,500 crore from Rs 8,29,700 crore a year ago. They stood at Rs 9,93,700 crore as of March 31.Its deposits aggregated to around Rs 11,89,500 crore as of June 30, compared with Rs 9,54,600 crore a year ago and Rs 11,47,500 crore at the end of March 2020.The bank said its CASA (current account savings account) ratio stood at around 40 per cent as of June 30, compared with 39.7 per cent a year ago, and 42.2 per cent as of March 31.During the quarter ended June, the bank purchased loans totalling Rs 1,376 crore through the direct assignment...

After plunging in the first quarter of 2020, earnings of Northrim Bancorp, Inc. (NASDAQ:NRIM) will likely recover in the remainder of the year on the back of lower provisions expense. However, the earnings will likely remain below last year's level because provisions will most probably remain above normal. NRIM has high exposure to COVID-19-sensitive industries, which will likely drive provision expense in the year ahead. Moreover, the drop in yields on earning assets will likely pressurize net income for the year. On the other hand, NRIM's participation in the Paycheck Protection Program will limit the earnings decline. For the full year, I'm expecting earnings to dip by 30% year-over-year to $2.12 per share. The uncertainties related to the COVID-19 pandemic and NRIM's significant exposu...

Come August 2020, the mechanism of trading through use of shares as collateral is going to see a big change. Investors wanting to take exposure by using their demat holdings will now have to pledge their holdings in favour of the broker through which they trade as against the current mechanism where the investor’s shares were physically transferred to the broker’s collateral account from the investor’s demat account.The mechanism which was to be effective from June 1 as per original timeline now stands extended to August 1 because of the pandemic.Let us go through the basics as to what was the existing mechanism and how exactly the new mechanism will work.What is the current mechanism?Currently, in case an investor wishes to trade in the capital market, he/she can do so either by...