Latest news with #Provident
Time of India
08-07-2025
- Business
- Time of India
What happened to the Public Provident Fund interest rates? Here's what we know about the PPF's quarterly review
The Public Provident Fund (PPF) is a popular investment vehicle in India, alongside the National Savings Certificate and the Senior Citizen Savings Scheme. These small savings schemes have long been sought after as a stable means of building up financial stability, so there was considerable attention on whether Public Provident Funds would change their interest rates in Q2 2025. However, those seeking a stable PPF investment can rest easy, as the latest review, whose results were announced on June 30, has confirmed that there will be no changes to the interest rates. The Public Provident Fund is valued for its stability The government has declared an 8.25% interest rate on Employees' Provident Fund (EPF) for FY25. While EPF is primarily for salaried employees, a comparable long-term, tax-efficient fixed-income option for self-employed individuals is the Public Provident Fund (PPF). Below… The PPF is valued as an investment vehicle in large part thanks to its stable returns and its resilience against market volatility. The Q2 2025 review reinforces the stability of the PPF as investment vehicle thanks to its unchanging interest rate. The Public Provident Fund is an invaluable long-term investment option for gradually building wealth, due to its strong tax incentives, with PPF investments, which max out at Rs 1.5 lakhs per year, being tax exempt. In addition, the interest earned on a PPF investment is also tax free, along with the amount investors will gain upon the fund's maturity. A Public Provident Fund can be invaluable for long-term investments Everyone above age 18 should have an PPF (Public Provident fund) account !!It's the most underrated financial instrument discussed on social media !! Due to its slow and steady growth rate, backing by the Government, and imperviousness to market volatility, a PPF is a great choice for investment plans that can persist over the long term. An individual can only open one PPF account during their lifetime. The minimum yearly deposit required to keep a PPF active is Rs 500 per year, while the maximum yearly deposit possible is Rs 1.5 lakhs per year. If an investment of at least 500 per year isn't made, a PPF can still be reactivated provided that the investor pays a fee of Rs 500 for each missed year, along with a penalty of Rs 50 per year. A PPF reaches maturity 15 years after opening an account, with investors having the option of withdrawing the mature balance or extending the PPF in increments of five years.
Mid East Info
02-07-2025
- Business
- Mid East Info
Dubai Real Estate Sees Massive Shift Toward Ready Villas in May–June Surge - Middle East Business News and Information
In a powerful display of market leadership and sales excellence, Provident Estate has officially secured 50% of all ready villa sales in Dubai between May 13 and June 13, 2025. With transactions ranging between AED 4.7 million and AED 6.7 million, this record-setting achievement highlights Provident's growing dominance in the city's competitive luxury real estate segment. At a time when buyer demand is shifting toward high-quality, move-in-ready homes, Provident has demonstrated a remarkable ability to match clients with the right properties—quickly, strategically, and at scale. The data is clear: out of every 2ready villas sold in Dubai during this period, 1 was sold by Provident. 'This isn't just a sales figure—it's a statement,' said Laura Adams Secondary Sales Director of Provident Estate. 'It reflects the confidence our clients place in us, the quality of our relationships with developers and homeowners, and the deep market expertise our team brings to every transaction.' With over 400 agents, Provident's approach to sales is driven by market intelligence, cutting-edge tech tools, and human insight. The firm's structure is built around delivering results fast—without compromising on service, integrity, or transparency. This milestone comes amid a surge in villa demand in Dubai, particularly among both local and international buyers seeking privacy, space, and long-term investment value. By capitalizing on this trend and leveraging its vast ready villa inventory, Provident was able to outperform hundreds of other brokerages—accounting for half the market in just 30 days. The accomplishment follows a strong first half of the year for Provident, with highlights including: Exclusive launches with top-tier developers Major bulk deals across key master communities Record-high individual agent performances New office expansions and recruitment initiatives 'What makes this achievement even more exciting is that it's just the beginning,' said Laura Adams Secondary Sales Director at Provident. 'With the momentum we've built, our team is already setting sights on exceeding this benchmark in the months to come.'
Yahoo
10-06-2025
- Business
- Yahoo
Provident Bank Expands Newark Presence with New Branch, Reinforces Commitment to Local Community
New location marks Provident's fourth branch in Newark and continued commitment to the city Greater Life Check Presentation St. Johns Soup Kitchen Photo Ribbon Cutting Photo Newark Habitat for Humanity Photo ISELIN, N.J., June 10, 2025 (GLOBE NEWSWIRE) -- Provident Bank, a leading New Jersey-based financial institution, announced the formal opening of its fourth branch in Newark, N.J., demonstrating its ongoing commitment to serving the financial needs of local businesses and consumers. The new branch, led by Israel Morales, Vice President, will be conveniently located on the ground floor of the Ironside Newark Building at 110 Edison Place (between the Prudential Center and train station) and includes an ATM. 'We are excited to announce the newest branch in the City of Newark,' said Vito Giannola, Executive Vice President and Chief Banking Officer at Provident Bank. 'This new location is part of our extensive network of more than 140 branches and further demonstrates our deep commitment to the communities we serve. With this new office, we will be focused on providing the Newark community with a convenient in-person experience and access to experienced, knowledgeable bankers who will assist local residents with their banking and lending needs.' As part of its ongoing community engagement program, Provident Bank also announced it has partnered with three local non-profit organizations: Habitat for Humanity of Greater Newark, St. John's Soup Kitchen, and Greater Life. Each organization received $2,500 during the bank's ribbon cutting ceremony earlier this week, celebrating the city of Newark and this new branch office. "This branch deepens Provident's commitment and history of providing equitable access to credit and banking services to the consumers and small businesses of New Jersey's largest city of more than 300,000 residents,' said Roxanne Camejo, Community Development Officer, Provident Bank. 'Beyond banking, we are proud to directly invest in Newark's future by donating to three impactful local charities, strengthening vital community programs.' About Provident BankFounded in Jersey City in 1839, Provident Bank is the oldest community-focused financial institution based in New Jersey and is the wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS). With assets of $24.22 billion as of March 31, 2025, Provident Bank offers a wide range of customized financial solutions for businesses and consumers with an exceptional customer experience delivered through its convenient network of more than 140 branches across New Jersey and parts of New York and Pennsylvania, via mobile and online banking, and from its customer contact center. The bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc. To learn more about Provident Bank, go to or call our customer contact center at 800.448.7768. Media Contact:Keith VestedProvidentbank@ Photos accompanying this announcement are available at: in to access your portfolio
Yahoo
10-06-2025
- Business
- Yahoo
Needham to acquire BankProv for $212M
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Needham Bank's holding company, NB Bancorp, will acquire Massachusetts lender BankProv through a stock-and-cash deal valued at about $212 million, according to a news release Thursday. Acquiring Amesbury-based BankProv through the merger with its holding company, Provident Bancorp, will give $5.2 billion-asset Needham an additional $1.6 billion in assets, $1.2 billion in deposits and $1.3 billion in gross loans. BankProv, founded almost two centuries ago, also adds seven branches, giving the combined bank 18 branches across greater Boston and the adjoining area to the west, the North Shore in Massachusetts and southern New Hampshire. It's expected to be the sixth-largest Massachusetts-based bank in the Boston area based on deposit market share, Needham said. When the transaction closes – expected to occur in the fourth quarter – 133-year-old Needham is set to have about $7.1 billion in assets, $5.9 billion in deposits and $6.1 billion in loans. With the purchase, Needham expects to issue about 5.9 million shares of its common stock. The deal is valued at $211.8 million based on Needham's closing price from Wednesday of $16.62 per share. As part of the deal, shareholders of Provident Bancorp, BankProv's holding company, can choose either 0.691 shares of Needham common stock or $13 in cash for each Provident share they own. The choice, though, is subject to allocation procedures ensuring half of Provident's shares of common stock will receive the stock consideration, the bank noted in the release. 'This merger allows Needham Bank to expand into attractive market areas on the Massachusetts North Shore and in Southern New Hampshire where we already have a concentration of business clients,' said Needham CEO Joseph P. Campanelli. 'While we have a strong record of organic growth, this merger allows us to further leverage the capital we raised in late 2023 and continue to grow and expand our existing client base with branches in new markets.' With the acquisition, Joseph B. Reilly, Provident's CEO, will join Needham's board. Reilly was named co-CEO in December 2022, after former CEO Dave Mansfield's exit. BankProv, a month earlier, disclosed that its lending exposure to the crypto mining industry would result in a quarterly loss of about $28 million. The lender then distanced itself from the sector, no longer issuing loans secured by digital assets or cryptocurrency mining rigs. Reilly became the bank's sole CEO in February 2024, according to a securities filing. 'Both organizations have a long history of serving our communities with a focus on 'relationships, agility and entrepreneurship' in banking,' Reilly said. 'Combined, we will offer an expanded product line of commercial and consumer products that will provide real value to our market areas. This merger benefits our customers and provides a good return for our stockholders.' It's the latest in a string of Boston-area bank deals. Two were announced in December: Boston-based Berkshire Bank said it was acquiring Brookline for $1.1 billion, and Rockland, Massachusetts-based Independent Bank said it was acquiring Lowell-based Enterprise in a $562 million deal. And in April, Boston-based Eastern Bank said it will merge with Brockton, Massachusetts-based HarborOne in a $490 million transaction. In December 2023, Needham raised nearly $410 million through an initial public offering connected to its conversion from mutual holding company to stock holding company. The transaction dilutes Needham's tangible book value by about 6.1% and is expected to be earned back in less than three years, the release said. Needham said it plans to continue to exceed regulatory minimums to be considered well-capitalized and maintain 'significant' liquidity after the merger, according to the release. Recommended Reading TD, BMO adjust their timelines for First Horizon, Bank of the West deals
Business Wire
09-06-2025
- Business
- Business Wire
PROVIDENT BANCORP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Provident Bancorp, Inc.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ('KSF') are investigating the proposed sale of Provident Bancorp, Inc. (NasdaqCM: PVBC) to NB Bancorp, Inc. (NasdaqCM: NBBK). Under the terms of the proposed transaction, shareholders of Provident can elect to receive either: (i) 0.691 shares of NB Bancorp common stock or (ii) $13.00 in cash, for each share of Provident that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ( toll free at any time at 855-768-1857, or visit to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit
