India's Bajaj Finance misses Q2 profit view on higher bad loan provisions

BENGALURU, Oct 17 - Indian non-bank lender Bajaj Finance reported a smaller-than-expected rise in second-quarter profit on Tuesday, as provisions for bad loans increased.

Loan losses and provisions grew nearly 47% year-on-year in the quarter to 10.77 billion rupees, up from 7.34 billion rupees a year ago. The RBI has been cautioning lenders about nascent stress in this segment, urging them to adopt stronger risk management practices.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ambani’s Finance Unit Posts Profit Jump in Its Debut EarningsJio Financial Services Ltd.’s quarterly profit doubled in its first set of earnings since it was spun out of Reliance Industries Ltd. as part of founder-owner Mukesh Ambani’s plans to extend his dominance to India’s finance sector.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Nigeria's cabinet OKs proposed $1.5 billion borrowing from World Bank -finance ministerExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Canadians seek theft reassurance through dealership finance and insurance departmentspScrambling for answers to the steep increase in vehicle thefts across Canada over the past five years, consumers are turning to dealership finance and insurance departments for solutions./p
Source: AutoNewsCanada - 🏆 77. / 51 Read more »

New Zealand PM-elect Luxon says Willis 'locked in' as finance ministerExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

New Zealand PM-elect Luxon says Willis 'locked in' as finance ministerExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

TSX recap: Index climbs 0.81% on strength in finance, techStrength in base metal, financial and technology stocks helped lead a broad-based rally Monday, with Canada's main stock index rising more than 150 points while U.S. stock markets also climbed higher.
Source: BNNBloomberg - 🏆 83. / 50 Read more »