Banking & NBFC Stocks in Focus: IndusInd Bank, Equitas SFB & More

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Banking & NBFC Stocks in Focus: IndusInd Bank, Equitas SFB & More
Credit: © Reuters.

By Malvika Gurung -- Punjab National Bank (NS: PNBK ): The state-owned lender has raised Rs 2,000 crore by issuing Basel-III compliant bonds at a coupon rate of 8.75% p.a. on a private placement basis to certain investors.

IndusInd Bank (NS: INBK ): The private lender has partnered with the US-headquartered customer engagement platform MoEngage, to deliver a differentiated digital experience or ‘Gen Z’ experience to customers.

Canara Bank (NS: CNBK ): The state-owned lender has increased the marginal cost of funds based lending rate by 10 basis points across all tenors, coming into effect from Thursday.

Equitas Small Finance Bank (NS: EQUI ): The microfinance lender’s gross advances surged 22% YoY to Rs 21,699 crore and total deposits rose 19% YoY to Rs 20,386 crore in Q1 FY23. The CASA deposits jumped 55% YoY to Rs 20,386 crore.

City Union Bank (NS: CTBK ): The private lender’s board of directors have approved raising Rs 500 crore through the qualified institutional players (QIP) route.

Shriram Transport (NS: SRTR ) Finance Company: The NBFC has received approval from its equity shareholders and creditors for the merger with Shriram City Union Finance.

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