IIFCL to raise Rs.3,000 crore by MarchSeptember 4th, 2009 KOLKATA - The state-owned India Infrastructure Finance Co Ltd (IIFCL) will raise Rs.3,000 crore from the domestic market by issuing bonds by March, a top company official said here Friday. "We have already raised Rs.1,000 crore and we intend to raise another Rs.3,000 crore by March 2010," said company chairman and managing director S.S.
Indian Bank first quarter net up 52 percentJuly 23rd, 2009 CHENNAI - The city-based Indian Bank closed the first quarter with a 52 percent increase in net profit and nearly 21 percent increase in total business as compared to the corresponding period in the previous fiscal, said a top bank official here Thursday. "Despite the challenging economic environment, the bank has earned a net profit of Rs.331.66 crore and did a total business of Rs.1,28,701 crore (deposits plus advances) as against Rs.217.62 crore and Rs.1,06,691 crore posted during the corresponding period of the previous year," said the bank's chairman and managing director M.S.
HDFC to raise Rs.4,000 crore via private placementJuly 22nd, 2009 MUMBAI - Housing Development Finance Corp (HDFC) Wednesday said it will raise Rs.4,000 crore ($826 million) through private placement of securities. The company has sought its shareholders' approval for issuance of warrants with redeemable non-convertible debentures to qualified institutional buyers not exceeding Rs.4,000 crore, HDFC said in a regulatory statement.
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.
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.
UCO Bank to enter general insurance businessJuly 3rd, 2009 KOLKATA - State-run UCO Bank will invest Rs.45 crore in its proposed general insurance company, a top bank official said here Friday. "We will pick up a 30-percent stake in the general insurance venture, which will have a capital base of Rs.150 crore," the bank's chairman and managing director S.K.
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.
Kerala to set up Rs.250-crore trade centreJune 30th, 2009 THIRUVANANTHAPURAM - The Kerala State Industrial Development Corp (KSDIC) has tied up with Fertilisers and Chemicals Travancore Ltd (FACT) to set up a world class trade and exhibition centre in Kochi at an investment of Rs.250 crore, it was announced Tuesday. KSDIC said in a statement that it would form a joint venture with FACT to execute the project.
Sterlite to invest Rs.250 crore for expansionJune 26th, 2009 MUMBAI - Sterlite Technologies, a global provider of transmission solutions for telecom and power companies, Friday said it will invest Rs.250 crore for capacity enhancement in the next two years. The company in a statement said it would double its optical fibre capacity to 12 million-km this fiscal and would take it to 20 million-km in 2011.
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.
State Bank plans to raise Rs.20,000 croreMay 8th, 2009 KOLKATA - State Bank of India (SBI), the country's largest lender, wants to raise Rs.20,000 crore in the current fiscal, a top company official said here Friday. 'SBI wants to raise Rs.20,000 crore this fiscal.
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.
Indian Bank net up 23 percentApril 27th, 2009 CHENNAI - State-run Indian Bank Monday reported 23.4 percent rise in its net profit for 2008-09 at Rs.1,245.32 crore from Rs.1,008.73 crore the previous fiscal. 'The bank's total business went up by 23 percent to Rs.124,413 crore (deposits Rs.75,582 crore and advances Rs.51,831 crore),' M.S.
United Bank posts 27 percent growth in advancesApril 16th, 2009 KOLKATA - Public sector lender United Bank of India (UBI) Thursday reported 27 percent growth in advances at Rs.36,000 crore and 16 percent rise in deposits at Rs.54,000 crore in 2008-09. 'Our bottomline is likely to be between Rs.150-200 crore after we close our books,' UBI chairman and managing director S.C.
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.
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