A recent press report said that State Bank of Travancore’s Staff Union has asked the Union government to withdraw the Banking Amendment Bill-2011 presented in the Lok Sabha as they feel it would undo the gains the banking sector had made through the nationalization of banks in 1969. Reports said that the resolution passed at… Read More »
According to a recent press report SBI has increased the lending rates by 25 basis points and deposit rate by 100 basis points. It has a positive impact on savings because the returns are high, but the home loan and auto loans interest rates have gone higher. The bank’s current deposit interest rate is 9.50… Read More »
According to the recent press report, Allahabad bank has entered into a strategic alliance with Aditya Birla money to provide financial services to its customer which facilitates the bank customers to invest in the online financial products. Aditya Birla money is the broking, wealth management and retail distribution arm of Aditya Birla Financial Services group.… Read More »
A recent press report said that ING Vysya has recorded that the net profit of this fiscal year has been raised up to 53 per cent of Rs.115.4 crore through higher net interest income and sound asset quality. Mr. Jayant Mehrotra, CFO, ING Vysya bank said that although the margins were under pressure, the profit… Read More »
According to a recent press report Fincorp Limited has reported a 19 per cent drop in its net profit at Rs.21 crore against Rs.26 crore during the corresponding period last year. The company has recorded a fall in its net profit in spite of the strong growth in the disbursement. Reports said that the company… Read More »
A recent press report said that the country’s largest housing finance company HDFC has reported a net profit of Rs 971crore for the quarter ended September 2011, an increase of 20% compared to the corresponding period last year. The company has recorded a sound loan growth with advances growing 20% after factoring in loan sales.… Read More »
A recent press report said that the net profit of IndusIndBank has increased by 45 percent from Rs.133 crore to 193 crore for the July-September quarter this year. Reports said that the increase in profit was due to the healthy rise in both net interest income and other income. Mr. Romesh Sobti, Managing Director, IndusInd… Read More »
According to a recent press report, Bank of India has planned to derive 19 percent of its operation from international continents. Currently, the bank has planned to open four more subsidiaries in the continents such as Uganda, Rwanda, Botswana and Canada. Mr. N. Seshadri, Executive Director, Bank of India stated that the Bank has opened… Read More »
A recent press report said that HDFC Bank has recorded a profit of 31.5% which is mainly due to its strong business growth. Reports said that in spite of the growth in the bank’s net interest income and fee income by 16.6 per cent and 15.6 per cent respectively, profit growth was supported by a… Read More »
According to a recent press report, HDFC Bank (BCCL) has said that the bank’s net profit has increased to 31.5% more than the Predicted limit. The Bank is constantly maintaining the net interest and asset quality. Reports said that the Bank has always moved ahead of the market’s expectations for the past several quarters and… Read More »