Industrias Bachoco S.A.B. de C.V. ("Bachoco" or the “Company”) (NYSE: IBA; BMV: BACHOCO), announces that the members of the Board of Directors of the Company (the “Board”) met today, regarding the intention of certain shareholders to make a voluntary tender offer for up to all of the shares representing the capital stock of the Company, owned by the investing public, as announced on March
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Industrias Bachoco press release (NYSE:IBA): Q2 GAAP EPS of $0.24.Revenue of $26.43M.
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Industrias Bachoco, S.A.B. DE C.V. - ADR (IBA) shares closed today at 1.2% below its 52 week high of $47.50, giving the company a market cap of $2B. The stock is currently up 10.9% year-to-date, up 2.4% over the past 12 months, and down 7.5% over the past five years. This week, the Dow Jones Industrial Average rose 1.8%, and the S&P 500 rose 1.4%. Trading Activity Trading volume this week was 0.1% higher than the 20-day average.Beta, a measure of the stock’s volatility relative to the overall market stands at 0.4. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70.MACD, a trend-following momentum indicator, indicates an upward trend.The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 93.6% The company's stock price performance over the past 12 months lags the peer average by -79.5%
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Industrias Bachoco SAB (NYSE: IBA ) reported its Q1 earnings results on Friday, April 29, 2022 at 09:00 AM. Here''s what investors need to know about the announcement. Earnings Industrias Bachoco SAB reported an EPS of $2.17. Revenue was up $277.00 … Full story available on Benzinga.com
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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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India's banks are freezing credit lines to shadow lenders as the coronavirus crisis shuts down commerce in Asia's third-largest economy, but leaving this sector in the lurch risks wider financial contagion. All major state-owned and private banks have stopped lending to non-banking financial companies (NBFCs) due to concerns about their financial health as businesses they lend to reel from the impact of the pandemic, four industry executives, who asked not to be named due to the sensitivity of the situation, told Reuters. This has led to a working capital squeeze for many NBFCs who account for nearly a fifth of overall lending as they struggle to meet operating costs. Their debt collections have dried up amid a 40-day nationwide lockdown to rein in the respiratory illness that has claimed over 500 lives. "For now, we've taken salary cuts of up to 75% across the board so that we can stretch the capital for a couple more months, but if things continue like this we are considering winding up our operations, the founder of a small NBFC that lends to small and medium enterprises said.
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Mumbai: Staring at a double blow of rising delinquences and falling loan demand, banks are all set to request the Reserve Bank of India (RBI) for extraordinary relaxations in accounting of non performing assets (NPAs) and could also ask government gaurantees for loans to small and medium enterprises (SMEs).These proposals are set to be okayed at the managing committee meeting of the Indian Banks' Association (IBA) on Saturday and will then be forwarded for the considerstion of the RBI.On the table is a relaxation of the NPA recognition timeline to 180 days from 90 days, which would give banks more time to assess damage and cushion impact on their financial metrics, especially capital and provision coverage, three persons familiar with the deliberations said.The suggestions also include a possible government guarantee of first loss for funding SMEs to provide relief to those that have shuttered without cash flows and a separate liquidity window for lower rated non-banking finance companies (NBFCs) through which RBI can directly buy bonds of these companies, which are finding it difficult to attract funds."The focus is to ensure we push credit flow where it is most needed whenever the lockdown is lifted.
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New Delhi; As the corona pandemic turns multifaceted, concerns are arising over the use of currency notes and banks have been advised not to recycle inward currencies and do so only after 48 hours. As a per a circular issued to banks in Kerala, all member banks of the SLBC that the inward currencies at branches should not be recycled. The inward currencies are to be separately wrapped in packets with date and to be recycled only after 48 hours. "We infer that currency notes are a probable threat for spread of coronavirus. Health Department has also opined that coronavirus could sustain on infected currency notes for about 12 hours." Canara Bank has issued a circular today to the SLBC member banks in Kerala. The staff in the branches have been asked to take precautions including wearing masks, gloves, using sanitisers and ensuring social distancing. Earlier, Indian Banks' Association (IBA) has made an appeal to people to wash their hands after touching or counting currency. IBA had also asked customers to use online and mobile banking channels for making their transactions and avoid visiting bank branches. "Wash your hands with soap for at least 20 seconds before and after physical banking/currency counting/AEPS (Aadhaar-enabled payments)," IBA had said in a public appeal.
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Kolkata: The Centre is making sure that banking services are up while the country goes into a lockdown to combat the spread of coronavirus. The Department of Financial Services has told the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) to ensure that all electronic and digital payment modes and channels function unhindered. It has directed Indian Banks’ Association (IBA) to coordinate with banks to ensure cash availability in ATMs. The department has also written to every state to ensure the mobility of bank employees to overcome the difficulties they face in reaching the branches. Several bank employees could not make it to offices as public transport came to a halt. In a letter dated March 24 to chief secretaries of states and union territories, it has requested to permit bank staff, RBI staff, NPCI staff and cash logistics companies to travel during the lockdown. ET has seen a copy of the letter. Several banks are keeping bank branches open cluster-wise and rotating staff to keep the risk of spreading the virus under check.
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Kolkata: The Centre is making sure that banking services are up and running while the country goes into a lockdown to combat the spread of coronavirus.The Department of Financial Services has told the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) to ensure that all electronic and digital payment modes and channels function unhindered. It has directed Indian Banks' Association (IBA) to coordinate with banks to ensure cash availability in ATMs.The department has also written to every state to ensure the mobility of bank employees to overcome the difficulties they face in reaching the branches. Several bank employees could not make it to offices as public transport came to a halt.In a letter dated March 24 to chief secretaries of states and union territories, it has requested to permit bank staff, RBI staff, NPCI staff and cash logistics companies to travel during the lockdown. ET has seen a copy of the letter.Several banks are keeping bank branches open cluster-wise and rotating staff to keep the risk of spreading the virus under check.
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The Indian Banks' Association (IBA) has asked banks to open only selective branches to carry out basic essential transactions in areas that have been placed under lockdown across the country in view of the coronavirus pandemic. Earlier, the IBA has informed
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The Indian Banks' Association (IBA) has announced that effective Monday banks will undertake only essential services like cash deposit and withdrawal, cheque clearances, remittances and government transactions.
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Two big unions in the banking sector, All India Bank Employees' Association (AIBEA) and All India Bank Officers Association (AIBOA) will go on strike on March 27th to oppose the mega bank mergers approved by the Union Cabinet on Wednesday.This comes days after bank unions called off a three-day bank strike which was scheduled from March 11. The strike had been called after talks over wage revision failed to initiate with the Indian Banks’ Association (IBA). The Cabinet on Wednesday approved merger of 10 public sector banks, including Allahabad Bank, Andhra Bank and OBC, to create large four state-owned lenders with effect from April 1.In one of the biggest consolidation exercises in the banking industry, the government last year announced amalgamation of the Oriental Bank of Commerce and the United Bank of India with the Punjab National Bank, of the Syndicate Bank into the Canara Bank, of the Andhra Bank and the Corporation Bank into the Union Bank of India, and of the Allahabad Bank into the Indian Bank.
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The three-day bank strike that would have left banks closed for six days in March has been called off by the unions. The Indian Banks’ Association (IBA)
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KOLKATA: The proposed three-day bank strike in the country called by various unions from March 11 has been deferred following 'positive' developments at the bipartite meeting held in Mumbai on Saturday, an AIBEA statement said here. The strike had been called by the constituents of United Forum of Bank Unions (UFBU), the umbrella body of the trade unions in the banking sector. All India Bank Employees' Association (AIBEA) statement said that in the bipartite meeting, which was held between the unions and Indian Banks Association (IBA), discussions were held in respect of offer of increase in pay slip cost to 15 per cent, demand for five-day banking among others. The statement added that IBA has agreed to discuss all other issues raised by the unions. Bank unions had observed a two-day strike from January 31 after talks over wage revision failed to make headway with the IBA.
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The Chancery Law Project is bringing together all sections of the legal profession to try and drill climate action into contracts, regulation and national laws As awareness of climate change and its impacts grows, a question frequently asked by many is: what can I do to help? The answer, even if it sounds like a cop out, is at its root a simple one: each of us must do what we can and should probably focus on what we are good at. For some that means developing the game-changing clean technologies of the future, or educating the citizens of tomorrow to provide them with the skills to both help build and thrive in a net zero economy. Others may have unique oratory talents to lecture world leaders on the case for urgent climate action, and occasionally someone might have an incredible capacity for presenting inspiring BBC nature documentaries. Meanwhile, many existing professions will have to adjust, adapt, and skill-up for the net zero transition. This is particularly true for the legal profession - in the battle against climate change there is a lot of plain old admin and legal oversight to do.
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The finance ministry has issued an advisory to the Indian Banks’ Association (IBA) asking it to avoid referring companies with loans defaults of less than Rs. 200 crores to the bankruptcy tribunal, two bankers familiar with the matter said.
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Following the Libor scandal, the financial conduct authority of the UK has decided to phase out the rate by the end of 2021.
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MUMBAI: The country needs to double credit growth to 15 per cent to become a USD 5 trillion economy by 2024-25, say bankers.The country has recorded high double-digit credit growth in the past and is capable of achieving similar growth now as well, they added."If you want to reach a USD 5 trillion economy, the outstanding credit, which is around Rs 95-98 trillion, it will have to be doubled, which means we need to grow (credit) at around 15 per cent," State Bank of India's Chairman Rajnish Kumar said at an IBA event.Echoing his views, Union Bank of India's Managing Director and CEO Rajkiran Rai G said for a USD 5 trillion economy, credit growth has to be more than 15 per cent per annum."To sustain that kind of credit growth, we need to build a robust risk management system so that we don't repeat the mistakes of past. The sourcing, process, monitoring have to be evolved and technology will play a major role in it," Rai said.Banks' credit growth has been hovering at around 7 per cent, currently.Prime Minister Narendra Modi on Thursday underlined the need for working together to make India a USD 5 trillion economy, while stressing that the government has been able to maintain macroeconomic stability amid tough global environment."Let's move ahead with the resolve to make India a USD 5 trillion economy," he said while replying to a debate on Motion of Thanks to President for his address to Parliament.Kumar said one important sector where India needs huge amount of investments is infrastructure.He said globally the norms around capital are getting tighter."There is demand for providing more for the risk, which restricts capital for growth," he said.Kumar said the country needs huge capabilities in project financing.To enhance its project financing capabilities, SBI has done a lot of policy modification.
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Zamira Hajiyeva, the wife of the former head of the International Bank of Azerbaijan (IBA) Jahangir Hajiyev, lost her fight to overturn the UK’s first unexplained-wealth order (UWO) - a tool heralded by police that forces individuals to prove that their funds are from legitimate sources
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Services of public sector banks were impacted on Saturday as nation-wide strike by employee unions entered its second day. The strike call has been given by the United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) to press for wage revision pending since November 2017. However, private sector lenders like ICICI Bank and HDFC Bank were operational. Branches in several parts of the country remained closed and some of the ATMs also went dry, according to reports coming various parts of the country. Many banks, including State Bank of India (SBI), had informed customers in advance that operations may be impacted to some extent due to the strike. Cash deposit, withdrawal, cheque clearances, instrument issuance and loan disbursement were affected. The strike coincides with the beginning of the Budget session of parliament and presentation of Union Budget 2020-21.
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The United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, decided to go on strike after talks on wage revision with the Indian Banks Association (IBA) failed to reach a consensus.
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NEW DELHI: Bank unions have decided to go on a two-day nationwide strike from Friday as talks with management of public sector lenders on wage revision have failed to reach a consensus.Many banks, including SBI, have informed customers that operations may be impacted to some extent due to the strike.The strike will coincide with the beginning of the Budget session of parliament and presentation of union Budget 2020-21.The strike call has been given by the United Forum of Bank Unions (UFBU), an umbrella body of nine bank unions, including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW).Earlier this week, a meeting with the Chief Labour Commissioner remained inconclusive, AIBOC President Sunil Kumar said.The wage revision for employees of public sector banks is pending since November 2017."Today's talks with Indian Banks' Association (IBA) failed on demand from unions, so strike call stands," AIBEA General Secretary C H Venkatachalam said.
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After a letter from the Indian Banks’ Association (IBA) on removing entire fees on these transactions, which would have meant significant revenue loss for its owner National Payments Corporation of India (NPCI), the two parties have reached an understanding for now.
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The Indian Bank’s Association (IBA) has written to the NPCI to remove charges like interchange fee and switching fee on UPI
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The International Bank of Azerbaijan (IBA) has for the first time launched the IBA Bot to serve its customers
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Chennai: Protesting against the Indian Banks Association's (IBA) rigid approach in the wage revision negotiations, the United Forum of Bank Unions (UFBU) has decided to go on strike on January 31, February 1 and March 11, 12 and 13, according to a top All India Bank Employees' Association (AIBEA) leader. Interestingly, the bankers have called strike on the day when Finance Minister Nirmala Sitharaman would be presenting her second budget. In a statement AIBEA General Secretary C.H. Venkatachalam said the IBA had adopted a rigid approach in resolving the wage revision demands during the bipartite talks on January 13. He said the UFBU, an umbrella body of nine unions in the banking sector, met after that and decided to go on a two-day strike, starting January 31, followed by three-day strike, starting March 11, and an indefinite strike from April 1 to highlight the demands and express our protest. "We are sure all our unions would understand the seriousness of the situation given the government policies towards labour and take all-out steps to implement the programmes," he said.
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Bank unions on Wednesday called for a two-day nationwide strike on January 31 and February 1 after talks over wage revision failed to make headway with the Indian Banks' Association (IBA). The United Forum of Bank Unions (UFBU), which represents nine trade unions, said they will also hold a three-day strike from March 11-13.
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Let's see if Industrias Bachoco (IBA) stock is a good choice for value-oriented investors right now from multiple angles.
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The International Bank of Azerbaijan (IBA) has joined a new standard - SWIFT gpi, used by SWIFT (Society for Worldwide Interbank Financial Telecommunication) in global transactions
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MUMBAI: Banks have voiced concerns over the Reserve Bank of India’s decision to introduce roundthe-clock fund transfers — cautioning the regulator that it could cause chaos. But, some in the know said their fears could well be exaggerated.Recently, RBI directed banks to keep the National Electronic Fund Transfer (NEFT) window open 24x7. The facility allows individuals and businesses to move money from any account in a bank branch to another bank branch in the country.Several senior bankers ET spoke to said lenders may run into a problem in managing cash balances if there is a large outflow late in the evening or early morning when the money market is shut — particularly, as it is unclear how the mechanism to draw a liquidity line from RBI in the wee hours would work out. A 24x7 NEFT could also pose complications in account reconciliation and crediting or debiting of interest in accounts from which funds flow in or out.Indeed, just days before RBI communique on NEFT, the industry body Indian Banks’ Association (IBA) in a letter to RBI executive director S Ganesh Kumar said: “..Opening up NEFT 24x7 will increase the risk as without any cap on value per transaction, (it) could lead to extreme flows when banks are closed.” The IBA letter dated November 30, 2019, said: “Since NEFT is interoperable across banks, even if some of the banks are not ready it will create chaos.”72878649 Responding to ET’s email query, IBA chief executive VG Kannan said: “These are very early days and so far no bank has faced any problem.
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New Delhi: SBI Chairman Rajnish Kumar on Monday said the bankers have highlighted issues, including taxation, credit growth, certification and steps for increasing financial market efficiency with Finance Minister Nirmala Sitharaman during a pre budget meeting. "We have made suggestions about taxation, certification, improving credit growth, increasing financial market sufficiency. We have suggested measures to attract investors in financial market," Kumar told media after the meeting. The SBI chief is the chairman of the banking industry body - Indian Banks Association (IBA) for 2019-20. IBA represents banks' interests with the government and regulators. In a separate statement, Finance Ministry said the main areas of discussion during the meeting included issues namely, increasing credit off-take from banks, governance changes in PSBs with special focus on PJ Nayak Committee recommendations, creation of a well-functioning bond markets, benefits of partial credit guarantee scheme, alternative investment funds in the real estate sector, measures for alleviating stress among NBFCs among others.
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The Baku Court of Appeal held a meeting on the appeals by former head of the International Bank of Azerbaijan (IBA) Jahangir Hajiyev, ex-MP Dunyamin Khalilov, as well as a civil plaintiff - the Ministry of Taxes
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Officers' unions of public sector banks have deferred the proposed two-day strike following an assurance from Finance Secretary Rajiv Kumar to look into their concerns.Four unions of bank officers had threatened to go on a two-day strike from September 26 to protest against the consolidation of 10 state-run lenders into four."Finance Secretary Rajiv Kumar was positive in formation of a committee consisting of all concerned to address the issues arising out of the proposed merger of 10 banks including preserving the identity of all the banks. An appeal was made to us to revisit our strike call in view of the discussions," a joint statement said issued on Monday.In view of the consideration of the positive and workable solution by the Finance Secretary, the 48 hours strike stands deferred, it said.As a result, normal banking activity would not be affected.The Indian Banks' Association (IBA) had informed SBI that the All India Bank Officers' Confederation (AIBOC), All India Bank Officers' Association (AIBOA), Indian National Bank Officers' Congress (INBOC) and National Organisation of Bank Officers (NOBO) had given a call for a pan-India strike by bank employees on September 26 and 27, 2019.The government on August 30 announced its mega consolidation plan to bring the down the total number of PSBs to 12 from 19 in 2017 in a bid to make them global-sized banks.As per the plan, United Bank of India and Oriental Bank of Commerce are to be merged with Punjab National Bank, making the proposed entity the second largest public sector bank (PSB).Syndicate Bank is to be merged with Canara Bank, while Allahabad Bank will be merged with Indian Bank.
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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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A mole in the Indian Banks’ Association (IBA) headquarters in Mumbai reports a sense of quiet satisfaction instead of the usually sombre mood among bankers who come to IBA’s Cuffe Parade office, seeking its intervention with banking sector regulator, Reserve Bank of India (RBI).No prizes for guessing why. Over the last few months, RBI has been hauled up by more than one authority — and on more than one occasion.Hence the schadenfreude (pleasure derived at another’s misfortune) among bankers, many of whom have been at the receiving end of RBI’s ivory tower approach to regulation. After all, it’s not often the regulator gets a taste of its own medicine.Get Up From the Wrong SideThe most recent instance is of the Supreme Court pulling up RBI for failing to make its inspection reports public. Prior to that, the apex court declared RBI’s February 12, 2018, circular ultra vires or beyond RBI’s legal authority. Striking it down in toto, the apex court declared RBI could not apply a blanket rule on non-repayment of loans to all bank borrowers, but could only do so on a case-by case basis.These are not the only instances where the once-invincible RBI has been put on the mat.
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