Latest news with #ARC
Skift
a day ago
- Business
- Skift
Online Travel Agency Flight Sales Jumped in May – Leisure and Corporate Bookings Fell
Online travel agencies have a tremendous marketing edge over leisure agencies, and corporate travel agencies might be feeling the pinch of macro uncertainties. U.S. travel agency sales of airline tickets fell 5% overall in May, according to new data from the Airline Reporting Corp. (ARC). But while total sales declined, online travel agencies bucked the trend with growing flight bookings. ARC, which tracks U.S. travel agency transactions, reported Wednesday that online travel agency (OTA) sales rose 8% year over year last month. Meanwhile, flight sales through traditional leisure agencies dropped 5%, and corporate trav
Business Standard
2 days ago
- Business
- Business Standard
ESAF Small Finance Bank soars after board clears Rs 735 Cr bad loan sale to ARC
ESAF Small Finance Bank rallied 7.89% to Rs 32.80 after the bank's board approved a major clean-up of its balance sheet by offloading bad loans worth Rs 735.18 crore to an Asset Reconstruction Company (ARC). The loan pool includes Rs 362.43 crore in non-performing assets (NPAs) and Rs 372.75 crore in technically written-off loans. The bank has already made a 90.15% provision against this pool, indicating limited impact on profitability. The board has authorized its Asset Sale Committee of Executives to oversee and complete all procedural formalities related to the transaction. The move is aimed at strengthening the banks asset quality and improving overall operational efficiency. Kerala-based ESAF Small Finance Bank commenced its banking operations in March 2017. It has a network of 787 banking outlets, 1106 customer service centres, 34 institutional business correspondents, 4,405 banking agents, 735 business facilitators and 693 ATMs spread across 26 states and 2 union territories. The bank reported a standalone net loss of Rs 183.19 crore in Q4 FY25 compared with a net profit of Rs 43.35 crore in Q4 FY24. Total income fell 9.99% YoY to Rs 1,036.78 crore in Q4 FY25.
News18
2 days ago
- Automotive
- News18
ESAF Small Finance Bank Jumps 11% After Board Clears Rs 735-Crore NPA Sale To ARC
Last Updated: ESAF Small Finance Bank shares surged over 11% on Thursday to hit an intraday high of Rs 33.83 on the BSE ESAF Small Finance Bank shares surged over 11% on Thursday to hit an intraday high of Rs 33.83 on the BSE, after the Thrissur-based lender announced board approval for a major asset sale. The bank will offload a pool of non-performing and technically written-off loans worth Rs 735.18 crore to an asset reconstruction company (ARC). The sale includes Rs 362.43 crore in non-performing assets (NPAs) and Rs 372.75 crore in technically written-off accounts. ESAF SFB noted it has provisioning coverage of 90.15% against the total pool. The board has authorised the Asset Sale Committee of Executives to execute the necessary formalities. However, the name of the ARC and detailed terms of the transaction were not disclosed. In a separate development, ESAF Small Finance Bank also announced a strategic tie-up with Maruti Suzuki India to offer retail financing solutions. The two companies signed a memorandum of understanding (MoU) to finance new and used cars, as well as commercial vehicles. The partnership aims to enhance vehicle ownership opportunities, particularly for first-time buyers in tier-II and tier-III cities, by combining Maruti Suzuki's dealer network with ESAF SFB's lending capabilities. From a technical perspective, the stock's Relative Strength Index (RSI) stands at 43.8, suggesting it is neither overbought nor oversold. The MACD is positive at 0.7 but remains below the signal line. ESAF shares are trading below their 10-day, 20-day, and 200-day simple moving averages, but above the 50-day and 100-day SMAs. Over the past three months, the stock has gained around 13.5%, although it remains down 43% over the past year. ESAF Small Finance Bank currently commands a market capitalisation of approximately Rs 1,566.9 crore. ESAF Small Finance Bank, headquartered in Thrissur, Kerala, is a leading small finance bank in India focused on promoting financial inclusion, especially in rural and underserved areas. Originating as a microfinance NGO in 1992, ESAF transitioned into a full-fledged small finance bank in 2017. With over 770 branches across 24 states and a customer base exceeding 8 million, the bank offers a range of products including retail, MSME, agri, gold, and vehicle loans. Known for its strong rural presence—well above RBI's mandated 25% rural lending threshold—ESAF combines physical outreach with digital services. As of FY25, the bank reported strong deposit growth and maintained a healthy CASA ratio, despite recent asset quality challenges. ESAF is also eyeing future transformation into a universal bank, contingent on improving its asset quality and operational metrics. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. First Published:
Time of India
2 days ago
- Automotive
- Time of India
ESAF Small Finance Bank shares soar 11% after board approves Rs 735-crore bad loan sale to ARC
ESAF Small Finance Bank shares jumped following the board's approval to sell non-performing loans to an asset reconstruction company. The bank also partnered with Maruti Suzuki India. This collaboration aims to provide retail financing solutions for vehicles. The partnership targets first-time buyers in tier-II and tier-III cities. Technical indicators show the stock is neither overbought nor oversold. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Technical indicators: Shares of ESAF Small Finance Bank soared 11.3% to an intraday high of Rs 33.83 on BSE on Thursday, after the Thrissur-based lender announced that its board has approved the sale of a pool of non-performing and technically written-off loans worth Rs 735.18 crore to an asset reconstruction company (ARC).The pool comprises Rs 362.43 crore in non-performing assets (NPAs) and Rs 372.75 crore in technically written-off accounts. The bank noted that it has provisioning coverage of 90.15% against the total board has authorised the Asset Sale Committee of Executives to carry out the necessary formalities to complete the transaction. The name of the ARC and specific terms of the sale were not ESAF Small Finance Bank has entered into a partnership with Maruti Suzuki India to offer retail financing solutions for new cars, used cars, and commercial two companies signed a memorandum of understanding (MoU) to provide flexible and accessible financing options, especially targeting first-time buyers. The partnership will leverage the combined networks of ESAF SFB and Maruti Suzuki across tier-II and tier-III cities to enhance vehicle ownership opportunities for a wider customer base, according to a company Relative Strength Index (RSI) stands at 43.8, indicating that the stock is neither overbought nor oversold. The MACD is at 0.7, remaining above the center line but below the signal line. The stock is currently trading below its 10-day, 20-day, and 200-day simple moving averages, while staying above the 50-day and 100-day SMAs. ESAF Small Finance Bank shares have gained approximately 13.5% over the past three months but have declined 43% over the past 12 months. The company's market capitalisation currently stands at around Rs 1,566.9 crore.
ABC News
2 days ago
- Science
- ABC News
The world's shrinking cloud cover is driving record temperatures, new research finds
The world's cloud cover has been shrinking significantly and may help explain the extraordinary heat of the last two years, new research led by NASA found. The research, published this month, analysed satellite observations during the past 24 years. It found areas over the ocean where storm clouds often form have dwindled by between 1.5 and 3 per cent per decade. It may not sound like much, but Monash University professor Christian Jakob, who leads the ARC's 21st Century Weather Centre of Excellence, said that loss has amounted to a significant portion of sunlight being absorbed by the Earth instead of being reflected out to space. "So that increase is what's providing extra warming to the climate in addition to the greenhouse effect, that's also increasing," Professor Jakob, who was a contributing author to the study, said. He said the new finding could even help explain one of the big climate mysteries of the past couple of years. The years 2023 and 2024 saw global average temperature reach record highs — each becoming the hottest year on record, and by a long way. While most of the extraordinary heat could be explained by greenhouse gas emissions and the presence of the El Niño climate driver, there was still a margin at the top that puzzled climate scientists. Scientists were looking into several possible explanations, including changes to shipping regulations and the underwater volcano Hunga Tonga-Hunga Ha'apai eruption in January 2022. However, Professor Jakob said the change in clouds amounted to a significantly larger difference. "What we found is the effect of clouds, and the shrinking of highly reflective clouds, is much, much larger," he said. "I would say it's at least three or four times the influence of the other effects that have been put forward. "So, while we can't say with certainty that it's the reason 2024 was so warm, it's fair to assume it contributed to the extraordinary warmth over the last few years." The loss of clouds has to do with the changes in wind patterns, as a response to climate change, according to Professor Jakob. This has led to a growth of the subtropical regions — where cloud is generally more sparse and patchy — while stormy regions have retracted toward the North and South poles. These stormy regions, to the north and south, contain extensive cloud cover, which is highly reflective, sending sunlight back into space. "The patchy clouds … these are the clouds that we are getting more of, while these intense grey skies, where more or less the entire sky is covered, are reducing," he said. "And so, therefore, the area of the clouds that are very good at reflecting sunlight is getting smaller. And the area of the clouds that are not so good at reflecting sunlight is getting bigger." Professor Jakob said this change was particularly evident at the boundary of these climate zones, including to the south of Australia. "The most affected regions are actually over the oceans," he said. "The ocean is an extremely good storer of energy, and it warms in the process of storing that energy. "So, as the clouds no longer reflect the sunlight, it now reaches the ocean surface. "The ocean takes up that energy that comes from the sun, and the sea surface temperatures go up, and that has major implications for how weather systems behave, but also major implications for the general warming of the planet." Clouds are a really important part of the Earth's climate system, yet they remain one of the most challenging features in our climate models. Professor Jakob said one of the keys to understanding them better was to understand changes to our weather. "The clouds don't just magically change; they change because climate change changes how weather systems behave," he said. "In this case, where they (the weather systems producing high cloud cover) occur is pushed further towards the poles." Investigating changes in our weather and climate systems is the main aim of ARC Centre of Excellence for 21st Century Weather. He said that for communities to be better prepared for a future climate, a shift in thinking from climate change to weather change needed to take place. "The poster child numbers we use to describe climate change are things like global mean temperature. Global mean temperature is really a very nice and very clear indicator that the climate system is affected by humans," he said. "However, when's the last time you've planned a barbecue on a forecast of global mean temperature? "What are we actually interested in in terms of the impacts that change in global mean temperature will have on us? And that's of course the weather." He said we had a good knowledge about how climate change was currently affecting temperatures on the ground and several types of extreme weather, but there was still a lot to learn.
