Repco Bank sets credit growth target of ₹21,750 cr. for FY25
The Hindu
Repco Bank Ltd aims for ₹21,750 crore credit growth by FY25, with strong performance and NPA reduction strategies in place.
Chennai-based Repco Bank Ltd (RBL) has set itself a credit growth target of ₹21,750 crore for FY25, said its Managing Director (i/c), O.M. Gokul.
RBL is prepared to march ahead with a strong sense of purpose towards building a strong and sustainable performance over the next few years with repatriate rehabilitation as prime objective, he said in a statement.
According to him, the bank performed remarkably well across all parameters in FY24 with total income crossing ₹1,000 crore, while net profit grew to ₹70 crore from ₹67 crore. Net worth rose to ₹850 crore from ₹829 crore.
The bank’s Gross Non-Performing Assets declined from 9.43% to 8.46% and Net Non-Performing Assets dropped from 4.18% to 3.67% due to strong and prudent recovery measures. Cash recovery was more than fresh slippages. The bank aims to further reduce NPA during FY25.
RBL reported a business mix of ₹19,500 crore against ₹17,746 crore in the year ago period. The total deposits increased by 11% to ₹10,582 crore and gross advances increased by 10% to ₹9,053 crore.
The board recommended a dividend of 25%.
Bitcoin’s march toward $100,000 made further ground on Thursday as the coin crossed $95,000.
Billionaire Gautam Adani indicted in New York for bribery and fraud scheme, impacting Adani Group's financial plans.
SEC charges Adani Group chairman with defrauding American investors and bribing officials in multi-billion-dollar solar energy project scheme.
Country Club Hospitality and Holidays Ltd clears ₹600 crore debt, explores global partnerships, franchise model for growth and expansion.
Steel Secretary addresses concerns over cheap steel imports from FTA nations, highlighting challenges faced by domestic industry.
Stock markets in India closed for Maharashtra elections, with a bounce back in domestic indices observed on Tuesday.
The sensor systems for vehicles in India are all imported. Nothing is made in India though they are engineered at a sustainable low cost, said ISRO Chairman S. Somanath.
Donald Trump's proposed tariffs on Chinese imports could impact global trade, inflation, and economic growth.
Evernorth Health Services opens global capability centre in Hyderabad, plans to hire 300 more employees by April.
Tata Power partners with Bhutan's DGPC to develop 5,000 MW clean energy capacity, strengthening regional clean energy sector.
Rupee closes flat against dollar amid geopolitical tensions, domestic market optimism; traders eye upcoming data and elections.