Category Archives: Banks

Bank of India raises Rs 325 Crores

Bank of India has raised Rs 325 crore Tier-I capital through a bond issue. According to a press release issued by the bank, the capital was raised through the issuing of innovative perpetual debt instrument (IPDI) carrying a coupon rate of 9 per cent.

Union Bank opens rep office in Sydney, Australia

State run lender Union Bank of India inaugurated its representative office in Sydney, Australia, on Wednesday and plans to upgrade its operations through a full-fledged branch or through a subsidiary bank in the country.

The year 2009 for SBI

SBI has been the most aggressive bank in the advances space for the Year 2009. First it changed the housing loan scene overnight by announcing the 8% fixed cum floating interest rate scheme. Then it became the dominant player in the automobile loans domain too. SBI was one of the preferred banks for the loans… Read More »

Year 2009 for HDFC Bank

The bank is one of the few which continued to grow its retail lending book even after the financial crisis. However, the growth rate has come down and officials say they will be cautious in their lending to the unsecured retail loan portfolio of credit cards and personal loans. The unsecured loan portfolio, which was… Read More »

ICICI bank in the year 2009!

The bank had gone slow on its housing loans, mortgage loans and automobiles loans (both 2 wheelers and 4 wheelers). Most of the automobile showrooms did not have an ICICI bank representative throughout the year. ICICI bank was also the last among the major banks to reduce the housing loan interest rate to the competitive… Read More »

Year 2009 for Punjab National bank!

Another simple measure to watch is net interest margin, which looks at net interest income as a percentage of average earning assets. Track margins over time to get a feel for the trend. PNB’s Net Interest margins have been generally stable in the 3.5 to 4 percent range. FY08 Net Interest Margin stands at 3.58… Read More »

How did Bank of India fare in 2009?

Bank of India pioneered the introduction of the Health Code System in 1982, for evaluating/ rating its credit portfolio. This year however, the bank has been hit badly by bad debts. The bank’s profitability was impacted on the back of total provisions shooting up to Rs 883 crores (Rs 452 crores). Of the total provisions,… Read More »

2009 for Non Banking Financial Companies in India

One of the most repeated pleas of NBFCs on the direct taxes front is the issue of parity with banks and housing finance companies in the areas of allowing provision on non-performing assets as a deduction. This provision, made in accordance with the prudential norms of the RBI, can be claimed as a deduction for… Read More »