Jaguar Land Rover secures 500 mn pound funding: reportOctober 7th, 2009 LONDON - Jaguar Land Rover (JLR), the troubled British carmaker, has secured 500 million pounds of new finance, including a 175 million pound loan from the State Bank of India, according to reports Wednesday. Tata Motors-owned JLR, which employs 14,500 people in Britain, has also won a $90 million (57 million pounds) export financing facility with ABC International Bank, the Daily Telegraph said in an online report.
RBC Bank, US subsidiary of Royal Bank of Canada, says CEO Scott Custer to retireOctober 1st, 2009 CEO of NC-based RBC Bank to retire next monthRALEIGH, N.C. — The chief executive of North Carolina-based RBC Bank is retiring.
UCO Bank inks deal with Mahindra for car financingSeptember 15th, 2009 KOLKATA - UCO Bank has signed an agreement with auto major Mahindra and Mahindra for car financing, a top official of the bank said here Tuesday. The bank will offer financing facilities to eligible customers to buy Mahindra's cars and multi-utility vehicles, bank chairman and managing director S.K.
Bank of Baroda opens two branches in Trinidad in a dayJuly 11th, 2009 Port-of-SPAIN - Bank of Baroda has created history by opening two branches in one country in a day, according to M.D. Mallya, global chairman and managing director.
New Zealand's Westpac bank commits second million-dollar blunder in just one monthJune 27th, 2009 MELBOURNE - Just about a month after it had mistakenly put 10 million New Zealand dollars into the bank account of a couple from Rotorua instead of the requested 100,000 dollars overdraft, Westpac bank has committed yet another blunder by paying a customer 4.3 million dollars instead of 43,000 dollars. Computer company Elite Business Systems, in Hamilton, received a Westpac fax on behalf of a client paying a bill.
State Bank to acquire State Bank of IndoreJune 19th, 2009 MUMBAI - The board of State Bank of India (SBI) has approved the acquisition of associate State Bank of Indore, the country's largest lender said Friday. "SBI has informed BSE (Bombay Stock Exchange) that the central board of the bank at its meeting held on June 19, has approved a proposal for acquisition of State Bank of Indore by State Bank of India, subject to approval by the Reserve Bank of India and the government of India," SBI said in a regulatory statement.
Cashed-up New Zealand Asian pair still on the runJune 17th, 2009 WELLINGTON - The infamous cashed-up Asian-origin couple, who escaped from New Zealand, continue to prove elusive for Kiwi police. Kiwi police say "cultural differences" are challenging their efforts to find failed petrol station owner Leo Gao and his girlfriend.
Three state-run banks to set up joint Malaysian subsidiaryJune 4th, 2009 MUMBAI - Bank of Baroda, Indian Overseas Bank and Andhra Bank will set up a joint subsidiary in Malaysia, it was announced Thursday. "The subsidiary is proposed to be named as India BIA Bank (Malaysia) Bhd," Bank of Baroda said in a regulatory statement.
Asian couple accused of Kiwi bank loan blunder have splitMay 26th, 2009 WELLINGTON - The brazen Kiwi couple who are at the centre of an embarrassing multimillion-dollar bank loan blunder appear to have parted ways in Asia, New Zealand police said Tuesday. Leo Gao, 29, and his girlfriend Kara Yang, 30, fled New Zealand three weeks ago after New Zealand dollar 10 million was accidentally deposited in Gao's Westpac bank account.
Bank-mistake millionaires not as rich as they thoughtMay 23rd, 2009 WELLINGTON - Fugitives who fled New Zealand after a bank mistakenly gave them a 10-million-New-Zealand-dollar (US$6.1 million) overdraft are not as rich as they might have thought, according to news reports on Saturday. And there appears to be more people to share their ill-gotten gains than the two people police have said are at the centre of a manhunt, which is centred on Hong Kong.
Couple made millionaires by bank mistake may be in Hong Kong: New Zealand policeMay 22nd, 2009 WELLINGTON - Two people who fled New Zealand with millions of dollars obtained through a bank's mistake were believed to have gone to Hong Kong, police said Friday. Interpol was alerted and inquiries were being made in Hong Kong and Beijing, a statement from national police headquarters said.
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.
Three Indian banks forge ties to float Malaysian ventureJanuary 29th, 2009 CHENNAI - Three Indian banks - Indian Overseas Bank (IOB), Bank of Baroda and Andhra Bank - will soon float a Malaysian banking joint venture to take advantage of the opportunities there, said a top official. 'We hope to get the green signal from the Malaysian authorities to start banking operations there by March,' IOB's chairman and managing director S.A.
More state-owned banks reduce lending ratesDecember 28th, 2008 NEW DELHI - Dena Bank, Punjab National Bank (PNB) and Bank of Baroda will reduce their benchmark prime lending rates (BPLR) from Jan 1, the three state-owned banks announced Monday. Dena Bank will cut its BPLR by 75 basis points from 13.5 percent annually to 12.75 percent.
Punjab National Bank, Bank of Baroda reduce lending ratesDecember 28th, 2008 NEW DELHI - Punjab National Bank (PNB) Monday reduced its benchmark prime lending rate (BPLR) by 50 basis points from 12.5 percent annually to 12 percent from Jan 1. Bank of Baroda too reduced its BPLR by 75 basis points from existing 13.25 percent to 12.5 percent, also from Jan 1.
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