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City Union Bank (CUB) has reported a net profit of Rs 140.32 crore during the quarter ended June 30, 2017, as compared to Rs 123.52 crore, a year ago, an increase of 14%. The bank is planning to seek shareholders approval for a Rs 500-crore Qualified Institutional Placement (QIP). N Kamakodi, managing director and chief executive CUB said that the quarter performance was decent and it was satisfactory compared to peers and industry. He attributed the increase in profit to 22% growth in net interest margin and increase in credit. The total income of the bank rose to Rs 960.86 crore from Rs 883.30 crore, a year ago. Bank's Gross NPA rose to Rs 734.95 crore from Rs 555.03 crore, while Net NPA rose to Rs 425.95 crore from Rs 333.98 crore. In terms of percentage, Gross NPA rose to 3.05% of gross advances from 2.62%, while the net NPA rose to 1.79% to net advances from 1.59%. The bank's capital adequacy ratio (CAR) as on June 30, 2017 as per RBI guidelines ...

HSBC Holdings PLC on Monday said profit grew 5 percent in the six months through June and announced its third share buyback in a year, indicating continued progress in the six-year turnaround plan of Europe's biggest bank. HSBC, like many global banks, spent the years up to the 2008 financial crisis expanding its empire with a string of acquisitions. Recent years have seen it cut jobs and sell assets worldwide to shrink the group back to profitability and maintain dividend payouts in an era of stricterc. The bank's Chief Executive Officer Stuart Gulliver and Chairman Douglas Flint are both retiring, leaving a legacy of improving revenue and returning more capital to shareholders, having focused on trimming the bank's empire and shifting focus to Asia. The latest share buyback, of up to $2 billion, comes as HSBC uses excess capital to offset the dilutive effect of shares paid out as dividends. It completed a previously announced $1 billion buyback in April. "...