Bank of Maharashtra’s net profit rose to Rs 87 crore in Q2 of this fiscal, as compared to Rs 71 crore in the corresponding quarter last year. This is a 23% increase and was mainly aided by a growth in the banks other income. Other income grew 140 per cent to Rs 149.47 crore but… Read More »
Federal Bank registered a 30 per cent increase in net profit from Rs 182 crore to Rs 237 crore during the first half of this fiscal.
Increase in non-interest income helped State Bank of India post a net profit of Rs 2,490 crore in the second quarter, a 10% increase compared with Rs 2,260 crore in the corresponding period last year.
Central Bank of India’s net profit rose Rs 314 crore (96 crore in the corresponding period last year) in the second quarter of the current financial year, supported by a substantial growth in other income.
Higher fee-based income saw United Bank of India posting a net profit of Rs 84 crore for the second quarter this year, against a loss of Rs 180 crore for the corresponding period last year.
Syndicate Bank’s net profit for the second quarter of this fiscal stood at Rs 177.81 crore, a decrease of 32 per cent when compared to Rs 261.91 crore for the corresponding quarter, the previous year.
The SLR change really has no real impact on the economy as the scheduled commercial banks are already in maintaining a SLR of 27.6%. So there is no real money that is going out of the system. That means that if A needs to take a loan, the money to lend to B is still… Read More »
As per RBI data during the current financial year (up to October 10, 2009), the increases in prices of wheat (3.5 per cent) and rice (5.9 per cent) were relatively low as supply side pressures were mitigated by the comfortable levels of food grain stocks with public agencies which stood at 44.3 million tonnes as… Read More »
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The UCO Bank is expecting to raise Rs 900-950 crore from follow-on-public offer after a rousing comeback in the stock market. The revival of the stock market has encouraged UCO bank authorities to revise estimates of premium for the issue from Rs 50 to over Rs 60 a share.