HDFC Bank net up 30 percent in first quarter

October 12th, 2009 MUMBAI - HDFC Bank, the country's second largest private lender, has posted a 24.27 percent increase in net profit at Rs.663.9 crore for the quarter ended Sep 30 as compared to Rs.534.23 crore it logged in the like period last year. The bank's total income stood at Rs.2,850.2 crore in the second quarter, up by 8.7 percent from Rs.2,620.5 crore in year-ago period.

September 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.

July 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.

July 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.

July 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.

July 22nd, 2009 MUMBAI - Housing Development Finance Corp (HDFC) has seen its net profit for the quarter ended June 30 increase over 20 percent to Rs.565 crore, as compared to Rs.468 crore in the corresponding period last fiscal. The company's total income increased 22.8 percent to Rs.2,849 crore from Rs.2,318 crore, it said in a regulatory statement.

July 20th, 2009 NEW DELHI - The country's second largest private lender HDFC Bank Monday cut its benchmark lending rate by 25 basis points to 15.75 percent. "The benchmark prime lending rate has been reduced to 15.75 percent per annum with effect from July 20," the bank said on its website.

June 16th, 2009 MUSCAT - Oman's biggest lender BankMuscat Tuesday said it will sell its remaining holding in HDFC Bank within a month. BankMuscat, which held 9,051,724 equity shares or 2.13 percent in India's second largest private lender till Dec 31, 2008, had disposed of about 81 percent of its stake till March 22.

May 4th, 2009 MUMBAI - Major housing loan provider HDFC Monday said its net profit dipped 6.3 percent to Rs.2,282.54 crore for the year ended March 31 from Rs.2,436.25 crore the previous fiscal. The company's total income, however, rose 36.33 percent in 2008-09 to Rs.10,992.43 crore from Rs.8,062.8 crore it made in the previous year.

April 23rd, 2009 NEW DELHI - HDFC Bank Thursday reported a 33.9 percent increase in its net profit to Rs.6.31 billion for the quarter ended March 31, compared to Rs.4.71 billion in the same period a year before. The total income rose 53 percent to Rs.537 billion in the period under review compared to Rs.351 billion in the same quarter the previous year, HDFC said in a regulatory statement.

March 25th, 2009 NEW DELHI - Housing finance company HDFC Tuesday announced a reduction in its retail prime lending rates (RPLR) by 50 basis points (bps) from March 25. This is the second time in three months that HDFC has reduced its RPLR.

February 28th, 2009 MUMBAI - Indian equities markets Friday managed to hold their own in the face of depressing GDP growth numbers and uncertainty prevailing in global markets as a key index at the Bombay Stock Exchange ended trade merely 0.71 percent lower than its last close. The 30-scrip Bombay Stock Exchange (BSE) Sensitive Index (Sensex), which opened at 8,944.11 points, closed at 8,891.61 points, down 0.71 percent or 63.25 points from Thursday's close.

February 9th, 2009 KOLKATA - HDFC will set up its first back office operations hub in eastern India at the satellite township of Rajrahat at an initial cost of Rs.60 million, a top official said here Tuesday. 'We are initially taking 30,000 square feet of space in the IT hub of Rajarhat.

January 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.

January 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.