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IndusInd, Bharat Fin merger: Premium paid for cost reduction, synergies and rural reach

2017-10-14 moneycontrol
IndusInd Bank on Saturday confirmed its acquisition of microfinance institution Bharat Financial Inclusion after over a month of exclusive merger arrangement. (3-0)

IndusInd Bank seals $2.4 billion deal to buy Bharat Financial Inclusion

2017-10-14 business-standard
India's IndusInd Bank Ltd agreed an all-share deal on Saturday to buy microlender Bharat Financial Inclusion Ltd for close to 155 billion rupees ($2.4 billion), boosting its presence in microfinance lending and rural banking. (58-0)

IndusInd reports a picture-perfect result even as buzz builds around Bharat Financial buy

2017-10-12 moneycontrol
IndusInd Bank delivered another quarter of predictable high quality earnings giving investors another reason to cheer at the beginning of the earnings season. A strong growth in low-cost deposits drove margin stability despite the bank stepping up its presence in the competitive corporate lending business. Its asset quality showed no signs of stress and fee income growth was decent. While the bank awaits meaningful recovery in the retail business in the second half of the fiscal, it is also gearing up to acquire Bharat Financial, which the management feels would be margin accretive from day one. (2-0)

This week in banking: IndusInd-Bharat Fin merger on cards, Bandhan Bank announces IPO plans

2017-09-16 moneycontrol
Banking sector this week started with two major announcements —IndusInd Bank announcing its exclusive merger talks with microfinance lender Bharat Financial Inclusion and Bandhan Bank gearing up for its IPO (initial public offering). (1-0)

Banking sector this week: IndusInd-Bharat Fin merger on cards, Bandhan Bank announces IPO plans

2017-09-16 moneycontrol
Banking sector this week started with two major announcements —IndusInd Bank announcing its exclusive merger talks with microfinance lender Bharat Financial Inclusion and Bandhan Bank gearing up for its IPO (initial public offering). (1-0)

IndusInd Will Discuss $2.2 Billion Bharat Financial Deal - Bloomberg

2017-09-11 bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Bharat Financial: CIMB Bank cuts stake

2017-07-27 thehindubusinessline
CIMB Bank Berhad on Thursday sold 18 lakh shares of Bharat Financial Inclusion through a bulk deal at an average price of ₹820.32, NSE data reveals. The number of shares sold represents 1.3 per cent of the total paid-up shares of Bharat Financial, formerly SKS Microfinance. CIMB Bank Berhad held 2.35 per cent stake as on June 30. The name(s) of the buyer(s) could not be immediately known. Shares of BFIL may remain focus.

Bharat Financial posts Rs37 crore loss in Q1

2017-07-26 livemint
Bharat Financial’s total revenue for the first quarter jumped nearly by 12% to Rs463.1 crore against Rs414.1 crore in the first quarter of FY17

Bharat Financial: Direct assignment continues

2017-06-16 thehindubusinessline
Bharat Financial Inclusion (formerly SKS Microfinance) on Friday assigned a pool of receivables of an aggregate value of ₹539.67 crore to one of the largest public sector banks on direct assignment basis in accordance with the guidelines prescribed by the Reserve Bank of India.

Broker's call

2017-06-15 thehindubusinessline
Our ‘Overweight’ view on Bharat Financial Inclusion (formerly SKS Microfinance) has been premised on our assumption that asset quality indicators are improving and the worst is known in terms of recognition and provisioning. Our view was that in the coming quarters, investor focus will shift to growth as write-offs are through.

Bharat Financial to use 2 lakh kirana stores as service sites

2017-06-14 moneycontrol
Expanding its footprint across the length and breadth of the country, micro-finance lender Bharat Financial Inclusion will bring around 2 lakh Kirana stores to cater as service points with the digital imprint.

Route One Fund buys stake in Bharat Financial for Rs 99 cr

2017-05-15 moneycontrol
Route One Fund I, LP today bought 0.88 per cent stake in Bharat Financial Inclusion for nearly Rs 99 crore, through an open market transaction.

Bharat Financial reports Rs 235 cr Q4 loss

2017-05-01 business-standard
Hyderabad-based microfinance lender Bharat Financial Inclusion has reported a net loss of Rs 235 crore in the January-March quarter of the previous financial year, while it earned a net profit of Rs 84.47 crore in the same quarter a year ago.

Bharat Financial Inclusion posts Q4 loss of Rs 235 crore, weighs merger

2017-05-01 livemint
Bharat Financial, formerly SKS Microfinance, had made a net profit of Rs 84.47 crore during the March quarter of fiscal 2016

A paperless growth in housing finance

2017-03-25 business-standard
After many years of a comfortable banking career with leading banks like GE Capital, Standard Chartered and Barclays, Sandeep Menon and Sujay Patil decided to rock the boat. At roughly 40, they found themselves at the crossroads with two options before them: One, continue on the staid, oft-treaded path and stay within the comfort zone; and two, stir things up a bit and take the plunge to go entrepreneurial.