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.
Oil India to start drilling in Libya from OctoberSeptember 2nd, 2009 KOLKATA - State-run energy explorer Oil India Ltd (OIL) will start drilling oil blocks in Libya from October for exploring an estimated two trillion cubic metres of reserves, a top company official said Wednesday. "We will drill four wells in Libya by 2010-11.
Central Bank to raise stake in housing finance armJuly 29th, 2009 KOLKATA - State-run Central Bank of India plans to raise its stake in its housing finance arm Centbank Home Finance, a top official said here Wednesday. The bank is planning to acquire the stakes of its two partners - Special Undertaking of UTI (SUUTI) and Urban Development Corp Ltd (HUDCO) - in Centbank Home Finance, 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.
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.
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.
West Bengal power firm plans Rs.5,000 crore investmentsJuly 2nd, 2009 KOLKATA - State-owned West Bengal State Electricity Distribution Company Limited (WBSEDCL) is planning to raise Rs.5,000 crore in the next three years to fund rural and urban electrification, a top company official said here Thursday. "Around Rs.3,000 crore will be invested for rural electrification, Rs.1,000 crore for enhancement of urban facilities and another Rs.1,000 crore for customer service automation," Malay K.
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.
City Union Bank to raise Rs.250 croreJune 11th, 2009 CHENNAI - City Union Bank, an old generation private lender based in Tamil Nadu, Thursday said it will raise Rs.250 crore over the next two years to fund its expansion plans. "Our target is to have a net worth of Rs.1,000 crore in two years time.
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.
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.
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