South Africa's current account deficit decreasesSeptember 4th, 2009 PRETORIA - South Africa's current account deficit has decreased, BuaNews reported Friday quoting the South African Reserve Bank (SARB). "The negative imbalance on the current account of the balance of payments improved from 7 percent of gross domestic product in the first quarter of 2009 to 3.2 percent in the second quarter," said the Reserve Bank in its September quarterly bulletin.
Allahabad Bank adds MoneyGram International's money transfer serviceJuly 19th, 2009 MUMBAI - Allahabad Bank is adding MoneyGram International's money transfer services to its core banking service branch locations. Allahabad Bank offers locations countrywide in India's largest cities and services to cities and rural communities especially across Uttar Pradesh and West Bengal.
Allahabad Bank's Q1 profit zooms 224 percentJuly 18th, 2009 KOLKATA - State-run Allahabad Bank posted a net profit of Rs.302.86 crore (Rs.3.02 billion) for the first quarter of 2009 as compared to Rs.93.36 crore for the same period last year, a top company official said here Saturday. The net profit was up by 224 percent due to higher investment trading profit of Rs.214 crore, up from Rs.32.2 crore a year ago.
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.
Allahabad Bank eyes 18 percent deposit, credit growthJune 15th, 2009 KOLKATA - The city-based Allahabad Bank is looking at a credit and deposit growth of 18 percent in the current fiscal, a top bank official said here Monday. "The growth estimates are based on RBI (Reserve Bank of India) guidelines.
Explosives seized in Uttar PradeshMay 28th, 2009 ALLAHABAD - Police personnel seized a huge cache of explosives in Allahabad in Uttar Pradesh. While randomly checking vehicular traffic, the police chanced upon these explosive items from a van, which they detained.
South Korea's economy contracts 4.3 percent in first quarterApril 24th, 2009 SKorean economy shrinks 4.3 percent in 1st quarterSEOUL, South Korea — South Korea's economy contracted 4.3 percent in the first quarter of 2009 from the same period last year, as manufacturing and exports slumped amid the global downturn, the Bank of Korea announced Friday. That marks the second straight quarter that South Korea's economy grew smaller.
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.
Allahabad Bank, UAE firm tie up for remittance facilityMarch 30th, 2009 KOLKATA - City-based Allahabad Bank signed a pact Monday with the Gulf-based money transfer and exchange house UAE Exchange and Financial Services for promoting its own money transfer services, the company said here. According to the state-owned bank's chairman and managing director K.R.
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.
Japanese economy shrinks in fourth quarter of 2008February 15th, 2009 TOKYO - Japan's gross domestic product (GDP) for the fourth quarter of 2008 shrank at an annualized 12.7 percent, the steepest fall in about 35 years, according to official data released Monday. The contraction is considered the steepest since the recorded 3.4 percent, or an annualized 13.1 percent, in the first quarter of 1974.
South Korean economy shrinks 5.6 percentJanuary 21st, 2009 SEOUL - South Korea's economy contracted at a more-than-expected rate of 5.6 percent in the final quarter of 2008 - its biggest drop since the Asian financial crisis a decade ago - and may be heading towards a deep recession. As exports shrank, domestic consumption waned and business investment declined, the central bank said Thursday.
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.
Two more banks cut lending ratesJanuary 1st, 2009 NEW DELHI - Two more state-owned banks joined the banking community in cutting lending rates by 50 to 70 basis points. In a regulatory statement, State Bank of Travancore announced Friday that it had revised the benchmark prime lending rate (BPLR) from 13.25 percent to 12.75 percent with effect from Jan 1.
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