In India, Uppal will be succeeded by Rajat Verma as head of commercial banking in India also with effect from 1 June 2017.
Bank deposits have surged after demonetisation but higher deposits does not mean banks are better off because deposits are classified as liabilities. Capital is the difference between bank assets and liabilities and represents the networth of a bank.
Yes Bank, IndusInd Bank and Chennai-based Lakshmi Vilas Bank are also contemplating a reduction in savings bank rates, officials from these banks said.
BPCL's Singapore arm BPRL International Singapore raised $600 million by selling dollar bonds to investors in Asia and Europe at 200 basis points above the 10-year US treasury.
Patel said it is important that India ensures that the notified 4% inflation target is secured on a durable basis particularly as monetary policy framework has been backed by legislation.
Corporate loans rose 25%, while vehicle loans increased 21%. “We have been able to ride the liquidity surge and deploy it well.
“The intentions behind demonetisation were positive and in keeping with broader reform efforts, but the short-term pain might outweigh the uncertain long-term gains,” Dan Martin, senior analyst at Fitch said in the newsletter.
Although the pace of asset quality deterioration will slow, it will remain a key challenge for banks in the next 18 months, Moody's and ICRA said.
Valladares has been a Citibank executive for 22 years. Prior to joining RBL Bank, he was Managing Director, Middle East, and head of the Citibank’s commercial banking division.
"Asset quality will remain a negative driver of the credit profiles of most rated banks in the country and the stock of impaired loans."
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