Morning Buzz: Banks and NBFCs report robust credit growth; Invesco increases Swiggy valuation; and more
While Bajaj Finance showed a 35 percent jump in assets under management, Bandhan, Federal and RBL Bank also pointed to an 18 percent growth. Invesco has marked up its valuation of Swiggy to $8.3 billion, up from $7.8 billion it had ascribed last July
Data from lenders Bajaj Finance, L&T Finance and state-run banks have shown a surge in loans.
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Banks and NBFCs report robust credit growth Â
Data from lenders Bajaj Finance, L&T Finance and state-run banks have shown a surge in loans. While Bajaj Finance showed a 35 percent jump in AUM (assets under management), mid-size banks Bandhan, Federal and RBL Bank also pointed to an 18 percent growth. The only dampener to the party was the rising cost of funds. Small finance banks also reported growth. AU SFB saw a jump of 20 percent, while Ujjivan saw a 27 percent rise. Â(Economic Times)
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Invesco increases Swiggy valuation Â
Invesco has marked up its valuation of Swiggy to $8.3 billion. This is higher than the $7.8 billion valuation the investor had ascribed last July. The firm holds a 2 percent stake in the company. Last year, the company had said that its core food delivery business had turned profitable in March when employee stock option costs were excluded. Â(Mint, Business Standard)
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