CARE Ratings has downgraded the outlook on ESAF Small Finance Bank’s various tier 2 bonds instruments to “negative” from “stable” on account of high asset quality stress which has adversely impacted the bank’s profitability.Read More
Baskar Babu Ramachandran, the promoter and managing director of Suryoday Bank, has raised his holding in the bank to 5.18% from 5.04% earlier, with the purchase of 1.5 lakh equity shares through open market operations.Read More
The fundraising suggests a likely return of investor confidence in the bank after the Reserve Bank of India on Saturday said the private lender has sufficient capital despite a likely hit on its net worth.Read More
The new facility is reportedly borrowed at a weighted life of 19 years, and now carries a funding cost of 9.2%. The loan it refinanced was taken in 2021 to develop wind-solar hybrid projects.Read More
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