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Julius Baer names interim India country head as Papneja departs

Julius Baer has appointed Kunal Sumaya as interim country head for India. He will replace Umang Papneja, who is leaving after four years. Papneja will stay until July. Julius Baer is expanding its presence in India, a key growth market. Sumaya, with 17 years at the firm, will focus on onshore growth and the global Indian client base. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/XIqSpVZ via IFTTT
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PNB Q4 net profit rises 14% YoY to ₹5,225 crore; targets ₹2 lakh crore digital book in FY27

Punjab National Bank is seeing strong digital growth, sanctioning one in three loans digitally and crossing ₹1 lakh crore in digital sanctions. The bank reported a 14% profit jump for the fourth quarter of FY26. PNB anticipates further growth in retail term deposits and aims for a 12-13% credit growth in FY27. Digital transactions now exceed 95% of total transactions. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/1Kl5gMx via IFTTT
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No systemic risk to BFSI sector; may see short-term slowdown in loan growth: Deepak Parekh

Industry veteran Deepak Parekh stated the banking and financial services sector is not facing major systemic risks from global geopolitical uncertainties. He anticipates a short-term slowdown in loan growth. Real estate investment trusts are growing in India. Insurance penetration remains low. Deposit mobilization has moderated as retail investors favor mutual funds. Artificial intelligence's impact on finance is still evolving. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/9cuQFNX via IFTTT
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RBI rate cuts partly passed on to borrowers in FY26, lending rates fall but not fully: Report

RBI's repo rate cuts in FY26 were only partially passed on to borrowers, with lending rates declining but not matching the full policy reduction. While weighted average lending rates fell by 93 basis points, the transmission varied across bank types and loan segments, leading to estimated borrower savings of Rs 19,000 crore. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/JRN5IrZ via IFTTT
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Public sector banks rush to build up wealth management assets

The move is aimed at improving customer engagement as household savings shift from bank deposits to market-linked instruments and risk products. Indian Bank plans to set up a wealth management vertical targeting high net worth individuals, while sectoral leader State Bank of India aims to grow its wealth assets under management fivefold to Rs 15 lakh crore by 2030. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/uIP9wEn via IFTTT
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Punjab & Sind Bank aims to cross total business milestone of Rs 3 lakh cr in FY27

Punjab & Sind Bank is targeting a significant milestone of Rs 3 lakh crore in total business by the end of the current financial year. This ambitious goal is driven by expected loan growth and deposit expansion. To fuel this expansion, the bank plans to raise substantial funds through equity and debt issuances. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/H1UBkvS via IFTTT
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Axis Bank opens its first digital locker-focussed branch

Axis Bank has opened its first digital locker branch in New Delhi. This new facility aims to provide advanced security and customer experience through automated locker services. The bank is responding to a growing demand for safe deposit lockers, especially in urban areas. Industry estimates predict a significant increase in locker requirements by 2030. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/UVEPoZh via IFTTT
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