Canara Bank first quarter net zooms 353 percentJuly 22nd, 2009 BANGALORE - State-run Canara Bank Wednesday reported a net profit of Rs.555 crore for the first quarter this fiscal, registering a whopping 353 percent year-on-year (YoY) increase over the Rs.123 crore posted in the corresponding quarter year ago. "The net profit for the quarter has shot up due to multiple factors such as net interest income growing by 27 percent YoY to Rs.1,291 crore from Rs.1,019 crore, other income increasing by 29 percent to Rs.
Dena Bank expecting Rs.500 crore capital infusionJuly 14th, 2009 KOLKATA - Public sector lender Dena Bank is expecting a Rs.500 crore capital infusion from the central government later this year, a top company official said here Tuesday. "We will receive Rs.300 crore as preferential shares and Rs.200 crore as perpetual non-cumulative preference shares (PNCPS)," Dena Bank chairman and managing director D.L.
IDBI Bank expects lower loan, deposit growthJuly 10th, 2009 KOLKATA - State-run IDBI Bank is expecting a loan disbursement growth of 18 percent and deposit growth of 20 percent this fiscal, considerably lower than that achieved in the last financial year, a top bank official said here Friday. In 2008-09, its loan portfolio grew at 26 percent and deposit at 56 percent.
Bank of Maharashtra plans to raise Rs.1,500 croreJuly 7th, 2009 KOLKATA - State-owned Bank of Maharashtra is planning to raise Rs.1,500 crore in three years, a top bank official said here Tuesday. "We have a plan to raise Rs.500 crore every year (starting from this fiscal) for three years via follow-on public offer, qualified institutional placement or issue perpetual preference shares," bank chairman and managing director Allen C.A.
Corporation Bank plans to raise Rs.1,000 croreJune 30th, 2009 KOLKATA - The state-run Corporation Bank is planning to raise Rs.1,000 crore this fiscal, a top official said here Tuesday. "This year we have already raised Rs.1,000 crore and we are planning to raise another Rs.1,000 crore through tier I perpetual bonds or tier II capital," J.M.
UCO Bank may slash deposit rates again next monthJune 29th, 2009 KOLKATA - The city-based UCO Bank is likely to slash deposit rates by 50-100 basis points soon, a top official said here Monday. The bank cut its lending rates by 50 basis points recently to 12 percent.
Allahabad Bank reduces lending rateJune 27th, 2009 KOLKATA - State-run Allahabad Bank Saturday decided to slash its benchmark prime lending rate by 25 basis points from July 1.
"The bank has decided to reduce the benchmark prime lending rate by 25 basis points from the existing 12.25 percent to 12 percent with effect from July 1, 2009," the bank said in a regulatory statement.
Allahabad Bank not likely to cut rates soonJune 24th, 2009 KOLKATA - State-run Allahabad Bank is unlikely to cut either interest rates or deposit rates soon, a top bank official said here Wednesday. There is a demand that interest rates should be made affordable but there are other factors that need to be taken into account, the bank's chairman and managing director K.R.
UCO Bank to slash lending rates next weekJune 19th, 2009 KOLKATA - The city-based UCO Bank will cut its deposit and lending rates by 50 basis points soon, a top bank official said here Friday. We would cut both the deposit and lending rates by 50 basis points from June 27, UCO chairman and managing director S.K.
Allahabad Bank net up 55.8 percent in fourth quarterMay 4th, 2009 KOLKATA - State-run lender Allahabad Bank Monday reported a net profit of Rs.264.09 crore in the fourth quarter of 2008-09 as against Rs.169.51 crore in the like period last fiscal, a rise of 55.8 percent. However, the bank's yearly profit fell 21 percent last fiscal.
HSBC India to go slow in consumer credit businessApril 16th, 2009 KOLKATA - HSBC India will go slow in the consumer credit business in 2009 following high level of 'impairment' of assets last year, a top official said here Thursday. 'We continue to do lending in the retail space,' Naina Lal Kidwai, who was appointed the country head of HSBC India Thursday, told reporters.
Allahabad Bank posts 18 percent growth in 2008-09April 14th, 2009 KOLKATA - City-based public sector lender Allahabad Bank registered 18 percent growth in deposits and advances in 2008-09 over the year before, a top official said here Tuesday. 'The bank has achieved a total business of Rs.144,000 crore as on March 31, 2009,' K.R.
Bankers say no to lowering lending ratesApril 8th, 2009 MUMBAI - Concerned over the rising non-performing assets (NPA) and high cost of deposits, India's bankers Wednesday told the Reserve Bank of India (RBI) that there was not much room for lending rates to go down. 'If there is a sharper downturn, it can further impact the asset quality.
Allahabad Bank joins hands with Suzuki MotorcycleFebruary 15th, 2009 KOLKATA - City-based public sector lender Allahabad Bank Monday signed an agreement with two-wheeler maker Suzuki Motorcycle India for financing of Suzuki two-wheelers under 'AllBank Mobike' scheme. Under the scheme, the bank will provide loans to two-wheeler buyers at discounted rates, Allahabad Bank chairman and managing director K.R.
Allahabad Bank posts Rs.3.7 bn net profitJanuary 18th, 2009 KOLKATA - The city-based Allahabad Bank has posted net profit of Rs.3.69 billion for the quarter ended Dec 31, 2008 as against a profit of Rs.3.65 billion in the corresponding quarter last fiscal, a top company official said here Monday. In the third quarter, Allahabad Bank's net interest margin (NIM) was also up at 3.24 percent, compared with 2.59 percent in the year-ago period.
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