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 »
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 »
UTI Retirement Solutions, the pension arm of UTI Asset Management Company has outshined SBI Pension Fund and Life Insurance Corporation Pension Fund in the National Pension Scheme (NPS) for government employees. Under NPS, employees have to contribute 10% of their basic salary and dearness allowance with a matching contribution from their employers. It is estimated… Read More »
The Life Insurance Corporation of India has awarded Indian Overseas Bank, Coimbatore region, with the ‘Bima Region’ award for excellence in insurance business.
According to Economic Research Report by Macquarie, the Reserve Bank of India(RBI) may hike the Cash Reserve Ratio next month and policy rates by April in view of the rising inflation and excess liquidity in the money markets.
Bank of Baroda will soon be opening a foreign branch in Auckland, New Zealand, through a 100 per cent subsidiary of the banks, according to Mr M.D.Mallya, Chairman and Managing Director.
Union Finance Minister, Mr Pranab Mukherjee, said that the Government cannot allow commercial activities of banks to be supervised by representatives of people. Mr. Mukherjee was speaking in the Lok Sabha.
SBI Cards, one of the largest credit card issuers in the country is moving on to better times. The credit card major saw its non-performing assets (NPAs) fall to 9.77 per cent, as on September 30, against 10.5 per cent at the same time last year. Formerly, the NPA’s had reached an all time high… Read More »
In the near future, banks may be able to do away with the “know your customer” process. This is a possibility once a sizeable chunk of population gets a Unique Identification number. Addressing the press after attending a meeting organised by the Reserve Bank of India (RBI) on Friday on using UID for financial inclusion,… Read More »
The government owned bank, United Bank of India, is likely to file a red herring prospectus with the Securities and Exchange Board of India for their initial public offer (IPO) next week. This was stated Chairman by the Chairman of the bank, Mr. Satish C Gupta. Mr. Gupta said, “We hope to come out with the IPO… Read More »