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.
Philadelphia-area man jailed 14 years for contempt of court to be freedJuly 10th, 2009 Man jailed 14 years for court contempt to be freedMEDIA, Pa. — A Pennsylvania man jailed for contempt of court for 14 years has been ordered released.
Indian EXIM bank to open office in Addis AbabaJune 27th, 2009 ADDIS ABABA -The Export and Import (EXIM) Bank of India is in negotiations with Ethiopian officials about the opening of an East African office in Addis Ababa. Board directors of the bank have already decided to open their East African office in Addis Ababa so as to support Indian companies' growing investment in eastern Africa, Indian embassy officials told IANS..
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.
2 more directors, Jackie Ward and Patricia Mitchell, resign from BofA's embattled boardJune 9th, 2009 2 more directors leave Bank of America's boardNEW YORK — Two more Bank of America Corp. directors are leaving, the company said Monday.
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.
ICICI Bank's Kamath joins Infosys as directorMay 2nd, 2009 BANGALORE - Infosys Technologies Ltd appointed K.V. Kamath, non-executive chairman of ICICI Bank, as an additional director to its board, the IT bellwether said Saturday.
Former Indian Bank chairman sentenced to 14 years in prisonApril 27th, 2009 CHENNAI - A fast track court here Monday sentenced former chairman and managing director of the state-run Indian Bank M. Gopalakrishnan to 14 years imprisonment for fraud.
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.
Teenager who robbed prostitutes jailed for six yearsMarch 19th, 2009 HONG KONG - A Hong Kong teenager who robbed seven prostitutes at knifepoint, in some cases after having had sex with them, was jailed for six years Thursday. Li Ka-chun, 18, carried out a series of robberies in June 2008 in inner-city flats where the prostitutes worked by themselves.
IIM-Ahmedabad, Union Bank sign pactMarch 19th, 2009 AHMEDABAD - The Indian Institute of Management-Ahmedabad (IIM-A) and state-run Union Bank of India (UBI) Wednesday signed an agreement for fostering research on small and medium enterprises (SMEs). The bank will provide a grant of Rs.20 million for starting 'Union Bank Chair Professor of SME' at IIM-A and for carrying out research programmes titled 'Union Bank Research Programme on the SME Segment' for a period of six years, institute director Samir Barua told reporters.
South Indian Bank, ING Life tie-up on premium paymentsFebruary 26th, 2009 KOCHI - The South Indian Bank, one of the oldest banks in south India, will collect insurance policy renewal payments on behalf of ING Life, part of the ING Group, it was announced Wednesday. Customers of ING Life can now pay their policy renewal premium at any of the 530 South Indian Bank branches spread across the country.
Indian Bank launches wealth management advisory servicesFebruary 6th, 2009 CHENNAI - As a first step towards launching a portfolio management services subsidiary, the city-based Indian Bank launched wealth management advisory services to its high net worth clients, said a top official. 'As per a study done in 2007, around $250 billion investible surplus is available in India and this figure will go up to $1 trillion by 2012,' the bank's chairman and managing director M.S.
Indian woman jailed in Britain for carrying fake documentsJanuary 9th, 2009 LONDON - An Indian national, Fatima Gani, has been jailed for possessing fake identity documents at her home in Tooting, London. The 42-year-old woman had illegally stayed back in the country after arriving on a holiday, the police said.
Indian workers in Gulf air problems at diaspora meetJanuary 8th, 2009 CHENNAI - Complaints of ill treatment of migrant workers by Indian immigration officials and by officials of Indian embassies abroad, the lack of higher education facilities for children of Indian workers and lack of legal assistance for jailed workers abroad were some of the issues brought to the notice of Union Minister for Overseas Indian Affairs Vayalar Ravi by the people from the Gulf region here Friday. Participating in the session to discuss the problems faced by the Indians in the Gulf region at the seventh Pravasi Bharatiya Divas (PBD) convention, a delegate said: 'I saw an immigration official throwing a passport on the face of two workers.
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