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.
Syndicate Bank net profit zooms 198 percentJuly 31st, 2009 BANGALORE - State-run Syndicate Bank posted a net profit of Rs.262 crore for the first quarter this fiscal, registering a whopping growth of 198 percent year-on-year from Rs.88 crore in the like period last year. "We have nearly trebled our net profit in the first quarter on a healthy 16.4 percent growth in net interest income (NII) to Rs.586 crore from Rs.503 crore a year ago and better management of treasury operations," bank executive director V.K.
State Bank net profit up 42 percentJuly 30th, 2009 Indo-ASIAN NEWS SERVICE
MUMBAI - India's largest lender State Bank of India (SBI) Thursday reported a 42 percent rise in net profit to Rs.2,330.37 crore ($481 million) in the first quarter of this fiscal compared to Rs.1,640.79 crore in the like period last year. SBI, which has around 12,000 branches, controls about a quarter of the total loans and deposits in the country.
ICICI Bank net profit up 21 percentJuly 25th, 2009 MUMBAI - India's largest private lender ICICI Bank Saturday reported a 21 percent increase in net profit at Rs.878 crore ($183 million) for the quarter ended June 30, as compared to Rs.728 crore in the same period last year. The total interest income fell 5.02 percent to Rs.1,985 crore in the quarter from Rs.2,090 crore in the corresponding period last year, the bank said in a regulatory statement.
Swiss bank Credit Suisse reports 29 percent rise in 2Q net profit to $1.41 billionJuly 23rd, 2009 Credit Suisse reports $1.41 billion 2ndQ profitZURICH — Swiss bank Credit Suisse Group has reported a 29 percent rise in second-quarter net profit to 1.57 billion francs ($1.41 billion). The bank says the results include one-time charges, legal costs and tax benefits.
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.
HDFC Bank net up 30 percent in first quarterJuly 14th, 2009 MUMBAI - The country's second largest private lender HDFC Bank Tuesday said its net profit increased by about 31 percent to Rs.606 crore (Rs.6.06 billion/$123.4 million) in the first quarter this fiscal, compared to Rs.464.35 crore in the year-ago period. The bank's net income for the period under review grew 21.86 percent to Rs.5,136.75 crore from Rs.4,215.15 crore.
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.
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.
Canara Bank net up 53 percent in third quarterJanuary 22nd, 2009 BANGALORE - State-run Canara Bank posted net profit of Rs.7.02 billion (Rs.702 crore/$142.6 million) for the third quarter this fiscal, registering a whopping 53 percent year-on-year (YoY) growth. Net profit in the corresponding period in 2007-08 was Rs.4.59 billion, the bank said in a statement Friday.
Vijaya Bank net up 24 percent in third quarterJanuary 22nd, 2009 BANGALORE - State-run Vijaya Bank Friday reported a net profit of Rs.1.57 billion (Rs.157 crore/$32 million) for the third quarter this fiscal, compared to Rs.1.27 billion a year ago, a growth of 24 percent. Total income for the quarter under review increased to Rs.16.35 billion from Rs.11.39 billion, posting 43.5 percent year-on-year growth.
Syndicate Bank net up 30 percent in third quarterJanuary 22nd, 2009 BANGALORE - State-run Syndicate Bank posted net profit of Rs.3.56 billion (Rs.356 crore/$72.4 billion) for the third quarter this fiscal, registering 30 percent year-on-year (YoY) growth. Net profit in the corresponding period last fiscal was Rs.2.73 billion, the bank said in a statement here Friday.
UCO Bank net profit rises over 100 percentJanuary 20th, 2009 KOLKATA - The city-based UCO Bank has posted a net profit of Rs.1.72 billion (Rs.171.64 crore) in the quarter ended Dec 31, as against Rs.827 million (Rs.82.78 crore) in the corresponding quarter last fiscal, reflecting an increase of over 100 percent, a top company official said here Wednesday. 'The net profit in this quarter jumped by 107.35 percent.
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.
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.
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