The State Bank of India (SBI), India's largest lender, plans to add around 6,500 employees as part of a broader initiative to migrate customers to digital channels, chairman C.S. Setty said on Monday at the launch of YONO 2.0, a revamped version of the bank’s digital banking app in Mumbai.As part of this effort, the bank plans to increase its employee count to 10,000, assigning roles—largely floor managers—to help onboard customers onto the revamped digital platform by 31 March 2026. Of the total, 3,500 hav ...

Core Viewpoint - Roth Capital has set a price target of $13 for VersaBank (NASDAQ: VBNK), reflecting confidence in the bank's growth and performance [2][5]. Financial Performance - VersaBank's fourth-quarter results for 2025 show strong growth in its Receivable Purchase Program (RPP) assets, which has driven record revenue, indicating the bank's strong operating leverage [2][5]. - The current stock price of VBNK is $13, marking an increase of 3.01% or $0.38, with fluctuations between $12.76 and $13.46 during the trading day [3][5]. - Over the past year, VBNK's stock has experienced a high of $16.47 and a low of $8.51, indicating volatility in its stock performance [3][5]. Market Position - VersaBank's market capitalization is approximately $418.18 million, with a trading volume of 136,671 shares [4]. - The bank's strategic growth in digital banking and technology solutions has contributed to its robust performance, as highlighted in its 2025 annual audited financial statements [4].

Financial Data and Key Metrics Changes - The fourth quarter of fiscal 2025 showed a year-over-year revenue growth of 29% to a record CAD 35.1 million, with total assets growing 20% year-over-year to over CAD 5.8 billion [11][12] - Adjusted net income increased by 91% year-over-year to CAD 10.5 million, or CAD 0.33 per share, excluding one-time costs associated with corporate realignment [12][18] - The CET1 ratio was reported at 12.92%, and the leverage ratio was 8.47%, both above internal targets [11] Business Line Data and Key Metrics Changes - Revenue from Canadian banking operations was CAD 27.6 million, up 17% year-over-year, while U.S. banking operations revenue reached CAD 5.2 million, a 67% sequential increase [13][14] - The receivable purchase program (RPP) assets grew to CAD 293 million, with total fundings for fiscal 2025 reaching CAD 310 million, surpassing targets [7][14] - The cybersecurity segment generated CAD 1.9 million in revenue, down from CAD 2.3 million in the previous year, reflecting higher operating expenses [15] Market Data and Key Metrics Changes - Credit assets grew to a record CAD 5.07 billion, driven by a 19% year-over-year increase in the RPP portfolio [15] - The multi-family residential loans portfolio grew 11% year-over-year, while the overall portfolio saw a slight decrease of 3% sequentially [15][16] Company Strategy and Development Direction - The company is focused on capitalizing on operational efficiency and leveraging its digital banking model, particularly in the U.S. market [17][18] - Plans to realign corporate structure to that of a standard U.S. bank are progressing, with a shareholder vote expected in April [21][20] - The company aims to divest its cybersecurity business to enhance regulatory capital and reduce costs by approximately CAD 10 million [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the momentum in the U.S. RPP program and expects to target CAD 1 billion in RPP funding for fiscal 2026 [18][25] - The yield curve's return to an upward slope is anticipated to benefit net interest margins, with expectations for stability and potential upside in 2026 [19][54] - The company is well-positioned to provide custodial services for stablecoin issuers, leveraging its advanced technology [27][28] Other Important Information - The company has enhanced its CMHC-insured lending program, which is expected to contribute a minimum of CAD 2 million in incremental revenue in fiscal 2026 [10] - The RealBank Deposit Tokens initiative is seen as a significant opportunity for new deposit channels and potential licensing revenue [22][56] Q&A Session Summary Question: Can you talk about your partner pipeline for the U.S. RPP program? - Management confirmed that the existing partners can help reach the CAD 1 billion target for fiscal 2026, with a strong pipeline for new partners [25] Question: Can you provide an update on the DRT Cyber sales process? - Management acknowledged delays in the sales process but indicated that they are in the final stages of a quality of earnings report, with several interested parties [29] Question: What is the expected base for non-interest expenses in 2026? - Management indicated that the budgeted figure for non-interest expenses is around CAD 72 million, excluding one-time costs [40] Question: What verticals are driving growth in the U.S. RPP? - Management noted that growth is driven by home improvement, HVAC, and recreational vehicles, similar to the Canadian market [44]

Financial Data and Key Metrics Changes - The fourth quarter of fiscal 2025 showed a year-over-year revenue growth of 29% to a record CAD 35.1 million, with total assets growing 20% year-over-year to over CAD 5.8 billion [11][12] - Adjusted net income increased by 91% year-over-year to CAD 10.5 million, or CAD 0.33 per share, excluding one-time costs associated with corporate realignment [12][18] - The CET1 ratio was reported at 12.92%, and the leverage ratio was 8.47%, both above internal targets [12] Business Line Data and Key Metrics Changes - Revenue from Canadian banking operations was CAD 27.6 million, up 17% year-over-year, while U.S. banking operations revenue reached CAD 5.2 million, a 67% sequential increase [13] - The receivable purchase program (RPP) assets grew to CAD 293 million, with total fundings for fiscal 2025 reaching CAD 310 million, surpassing targets [6][13] - The cybersecurity segment generated revenue of CAD 1.9 million, down from CAD 2.3 million in the previous year, reflecting higher operating expenses [14] Market Data and Key Metrics Changes - Credit assets grew 20% year-over-year to CAD 5.07 billion, with the RPP portfolio representing 78% of total assets [15] - The net interest margin on credit assets was 265 basis points, a 13% increase year-over-year, while overall net interest margin was 229 basis points [16][43] Company Strategy and Development Direction - The company is focusing on expanding its U.S. operations, targeting CAD 1 billion in RPP funding for fiscal 2026, with a mix of conventional and securitized RPP [18][19] - Plans to divest the cybersecurity business are underway, which is expected to eliminate CAD 10 million from the consolidated cost structure [20] - The company is also advancing its proprietary deposit tokens, aiming to establish a new deposit channel and license technology to other banks [22][45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum of the digital banking business and the potential for continued growth in both Canadian and U.S. markets [4][17] - The anticipated one-time costs associated with corporate realignment are expected to be around CAD 1.5 million, with overall costs projected to remain flat in 2026 [18][33] - The company expects to benefit from a stable net interest margin in 2026, with potential upside from the RPP and CMHC lending [19][43] Other Important Information - The company achieved a record book value per share of CAD 16.67 [11] - The liquidity levels were higher than typical due to the U.S. market entry, with cash and securities at CAD 663 million, or 11% of total assets [11][12] Q&A Session Summary Question: Can you talk about your partner pipeline for the U.S. RPP program? - Management confirmed that the existing partners can help reach the CAD 1 billion target for fiscal 2026, with a strong pipeline for new partners [25] Question: Can you elaborate on the custody solution consistent with planned regulation in Canada? - The company is prepared to provide custodial services to stablecoin issuers, leveraging its state-of-the-art technology [26][27] Question: What is the status of the DRT Cyber sales process? - The sales process is taking longer than expected, with a quality of earnings report in the final stages [28][29] Question: What is the expected base for non-interest expenses in 2026? - Management indicated that the budgeted figure is around CAD 72 million, excluding one-time expenses [33] Question: Can you provide insights on the growth drivers in the U.S. RPP? - The growth is driven by home improvement, HVAC, and energy-saving projects, similar to the Canadian market [37]

Joining us right now is New Bank's CEO David Veles. Good morning to you. Um, this really is a a big move for you guys and I I wonder whether it wonder what it portends um in in a larger way for where you're trying to go here.>> Thank you, Andrew. Well, this is really the continuation of the thesis that we've been executing for 12 years since the beginning of the company in Brazil in 2013. Our view is that financial services will go through the same transformation that all industries across the world have go ...

VersaBank's 2025 annual audited Consolidated Financial Statements and Management's Discussion and Analysis ("MD&A") will be available today online at www.versabank.com/investor-relations, SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar.shtml. Supplementary Financial Information will also be available on our website at www.versabank.com/investor-relations. All amounts are in Canadian dollars unless otherwise noted. All interim financial information within this earnings release is unaudited and base ...

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Launched in 2016, Airtel Payments Bank operates entirely as a profitable digital-first bank with no physical branches. Over the years, it has integrated deep tech into its internal processes to drive organic growth and build a secure, transparent, and scalable backend infrastructureThey have helped in achieving financial inclusion and last-mile access by leveraging an extensive, human-assisted distribution network of banking points to serve remotest corners of the countryPayments banks have evolved into a r ...

Summary of Chime Financial Conference Call Company Overview - Chime Financial is positioned as a leader in the digital banking sector, targeting nearly 200 million U.S. adults earning up to $100K, a demographic often overlooked by traditional banks [5][6] - 97% of Chime members report improved financial progress, and the company has been recognized as the number one bank brand in America by J.D. Power [5][6] Key Points and Arguments Digital Banking Shift - There is a significant shift towards digital banking in America, with Chime at the forefront [5] - The company focuses on solving critical financial needs and has innovated its cost structure to provide better value to consumers [6] Primary Account Relationships - Chime has achieved high success in converting members to primary account status, driven by product innovation [8] - The average active member conducts 55 transactions per month, indicating strong engagement [10] - Tenured cohorts use an average of four products monthly, with revenue per active member (RPAM) increasing from $250 to $350 [11] Targeting Higher-Income Segments - The fastest-growing segment for Chime includes individuals earning over $75K, with a focus on high-yield savings and rewards products [12][14] - Chime offers a 3.5% interest rate on high-yield savings accounts, significantly above the national average [14] Ungating Strategy - Chime has implemented an ungating strategy to allow non-direct depositors access to certain products, resulting in increased member growth and improved unit economics [16][18] - The company added 1.6 million new active members in the past year, up from 1.2 million the previous year [18] Competitive Advantages - Chime's cost structure is significantly lower than traditional banks, with a transaction margin of approximately 70% [22] - The transition to Chime Core, an in-house payment processor, has reduced processing costs by over 50% [23] Chime Card - The Chime Card, a secured credit card, offers 1.5% cash back and is designed to enhance customer engagement and acquisition [27][28] - New cohorts using the Chime Card are spending approximately 80% of their transactions through it [29] Liquidity Products - Chime's liquidity products, such as MyPay and Instant Loans, account for about 20% of revenue and are designed to provide short-term credit with low risk [36] - The company benefits from a unique repayment position, as it is the first to be repaid when direct deposits come in [35] Economic Resilience - Chime has observed resilience in consumer spending, particularly in non-discretionary categories, despite economic challenges [38][40] - The model is designed to perform well in both good and tough economic times, with a focus on low-cost services [41] Chime Enterprise - Chime Enterprise aims to provide financial wellness solutions to employers, leveraging partnerships with platforms like Workday and UKG [43][44] - Early adoption rates among employees have exceeded expectations, indicating strong market interest [44] Growth Framework - Key growth levers include increasing active members and revenue per member, with a focus on cross-selling additional products [47][48] - The company expects to see improvements in profit margins due to operational efficiencies and AI integration in customer support [50][51] Additional Important Insights - Chime's customer support has improved significantly due to AI initiatives, leading to higher customer satisfaction scores [51] - The company anticipates continued growth in adjusted EBITDA margins, projecting an 11-point improvement in Q4 [52]

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