Banking & NBFCs
India's banks and NBFCs, daily: credit growth, gold loans, microfinance, leadership changes and RBI actions, with what each one means for lending.
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Banking & NBFCs
Axis Bank Names Former HDFC Bank Veteran Rahul Shukla as Group Head of Commercial and Bharat Banking
India’s third-largest private sector lender, Axis Bank Limited, has appointed seasoned corporate and rural banking veteran Rahul Shukla as Group Head of Commercial and Bharat Banking, effective October 19, 2026.
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Banking & NBFCs
IIFL Finance Q2 Net Profit Nearly Doubles to ₹805 Crore as AUM Expands 38% to ₹1.24 Lakh Crore
Retail non-banking financial company IIFL Finance Limited has reported a 93% year-on-year (YoY) surge in standalone and consolidated profit after tax (PAT) to ₹805 crore for the second quarter ended September 30, 2026 (Q2 FY27), up from ₹417.9 crore in the corresponding period of the previous fiscal year.
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Banking & NBFCs
Canara Bank Q2 Net Profit Hits Record ₹5,175 Crore as NII Surges 20.4%; Global Business Crosses ₹30 Lakh Crore
State-owned Canara Bank has reported an 8.4% year-on-year (YoY) increase in standalone net profit to ₹5,175 crore for the second quarter ended September 30, 2026 (Q2 FY27), registering the highest-ever quarterly profit in the bank’s operating history.
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Banking & NBFCs
Abu Dhabi’s IHC and First Abu Dhabi Bank Eye 25%–32% Stake in Bandhan Bank Promoter BFSL via Jefferies
Abu Dhabi-based International Holding Company (IHC)—the flagship investment conglomerate chaired by Abu Dhabi Deputy Ruler and National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan—and First Abu Dhabi Bank (FAB) are in early-stage talks to acquire a 25% to 32% stake in Bandhan Financial Services Limited (BFSL), the unlisted promoter entity of Bandhan Bank.
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Banking & NBFCs
PNB Housing Finance Sees 5–8 bps NIM Expansion from RBI Rate Hike, Clinches Quadruple ‘AAA’ Rating Sweep: MD & CEO Ajai Shukla
The Reserve Bank of India’s (RBI) decision to raise its benchmark repo rate by 25 basis points to 5.50%—its first rate hike in nearly four years to counteract West Asia-linked inflationary pressures—will generate a net positive margin impact for retail mortgage lenders with diversified funding structures.
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Banking & NBFCs
At ₹35.90 Crore, HDFC Bank’s Incoming MD & CEO Anup Bagchi Set to Become India’s Highest-Paid Bank Chief
India’s largest private-sector lender, HDFC Bank, has proposed an annual target remuneration package of up to ₹35.90 Crore for incoming Managing Director & CEO Anup Bagchi, positioning him to become the highest-paid bank chief executive in the country. Including a one-time stock-linked joining grant of ₹7.35 Crore, Bagchi’s total Year-1 compensation potential stands at ₹43.24 Crore.
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Banking & NBFCs
Deutsche Bank Appoints 30-Year Veteran Vikas Arora as Chief Country Officer and Head of Corporate Bank for the Philippines
MANILA / MUMBAI — Deutsche Bank has appointed nearly three-decade institutional veteran Vikas Arora as Chief Country Officer (CCO) and Head of Corporate Bank for the Philippines, effective October 1, 2026. Succeeding outgoing Country Head Dino Siason, Arora will oversee Deutsche Bank’s overall country platform in the Philippines and drive growth across both its Corporate Bank and Investment Bank divisions.
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Banking & NBFCs
L&T Finance Q2 FY27 Update: Retail Disbursements Jump 27% to ₹24,000 Crore as Gold Loans Surge 3.3x and Retailisation Hits 99%
MUMBAI — L&T Finance Limited (LTF) has delivered a strong operational readout for the second quarter ended September 30, 2026 (Q2 FY27). Ahead of its formal Q2 earnings release scheduled for October 15, 2026, the non-banking financial company reported a 27% year-on-year (YoY) jump in retail disbursements to approximately ₹24,000 crore, up from ₹18,883 crore in Q2 FY26.
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Banking & NBFCs
One Exit, One Entry: How Anup Bagchi’s Move to HDFC Bank and Sidharatha Mishra’s Rise at ICICI Life Redefine India’s BFSI C-Suite
A landmark C-suite domino effect is unfolding across Indian financial services this October—showcasing how the ICICI Group’s leadership bench is simultaneously powering HDFC Bank’s turnaround mandate and ICICI Prudential Life Insurance’s next growth cycle.
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Banking & NBFCs
Kotak Mahindra Bank appoints Anup Kumar Saha as MD & CEO
Saha is currently a whole-time director at the bank and has been overseeing its retail banking, data analytics and marketing functions since March 2026. He joined Kotak Mahindra Bank in January this year.
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