Infosys looking at overseas acquisitionsAugust 5th, 2009 KOLKATA - IT major Infosys Technologies is looking at acquisitions in Europe, Latin America, the Middle East, Japan and Australia, a top company official said here Wednesday. "The size of the company should be around $450-500 million," Infosys chief executive and managing director S.
CISF to guard Infosys complex in BangaloreAugust 1st, 2009 BANGALORE - Infosys Technologies (Infosys) has availed the security cover facilitated by the Central Industrial Security Force (CISF) for its vast complex located in Bangalore. A formal function to herald this service was held at the Infosys campus here on Friday.
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.
Allahabad Bank not likely to cut rates soonJune 24th, 2009 KOLKATA - State-run Allahabad Bank is unlikely to cut either interest rates or deposit rates soon, a top bank official said here Wednesday. There is a demand that interest rates should be made affordable but there are other factors that need to be taken into account, the bank's chairman and managing director K.R.
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.
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.
India's economic revival will be fast: Chanda KochharApril 28th, 2009 NEW DELHI - The Indian economy will recover 'quick and fast', though sectors such as realty and auto will take some to revive, according to ICICI Bank joint managing director Chanda Kochhar. 'India is in a much better economic position than many countries.
School van driver arrested for molesting childApril 27th, 2009 GHAZIABAD - The driver of a school van was arrested here Monday for allegedly molesting an eight-year-old child while on the way to school, police said. Shashi Kant Kamath was arrested Monday morning from a private school in Bulandshahr Road Industrial Area of Ghaziabad, police said.
India's ICICI bank quarterly profit down 35 pct on low fee income, braces for more bad loansApril 25th, 2009 India's ICICI bank quarterly profit down 35 pctMUMBAI, India — ICICI Bank Ltd., India's largest private bank, said Saturday that its quarterly profit slid over 35 percent as the global financial crisis eroded fee income in commercial and retail banking. The bank said it was also bracing itself for rising bad loans by increasing provisions.
Allahabad Bank posts 18 percent growth in 2008-09April 14th, 2009 KOLKATA - City-based public sector lender Allahabad Bank registered 18 percent growth in deposits and advances in 2008-09 over the year before, a top official said here Tuesday. 'The bank has achieved a total business of Rs.144,000 crore as on March 31, 2009,' K.R.
ICICI Bank urges government to unveil borrowing plansApril 4th, 2009 KOLKATA - India's largest private lender ICICI Bank Saturday urged the government to spell out 'how it plans to manage its borrowings'. 'There are concerns on the impact the government borrowings will have on liquidity, pushing up interest rates,' K.V.
India to grow 7-8 percent this fiscal: ICICI chiefApril 4th, 2009 KOLKATA - Despite the economic slowdown, the Indian economy is likely to grow 7-8 percent in 2009-10, ICICI Bank chief executive K.V. Kamath said here Saturday.
Venu Srinivasan is new CII presidentMarch 27th, 2009 NEW DELHI - TVS Motor chairman and managing director Venu Srinivasan has been elected the new Confederation of Indian Industry (CII) president for 2009-10. He succeeds in that post ICICI Bank chairman K.V.
Allahabad Bank joins hands with Suzuki MotorcycleFebruary 15th, 2009 KOLKATA - City-based public sector lender Allahabad Bank Monday signed an agreement with two-wheeler maker Suzuki Motorcycle India for financing of Suzuki two-wheelers under 'AllBank Mobike' scheme. Under the scheme, the bank will provide loans to two-wheeler buyers at discounted rates, Allahabad Bank chairman and managing director K.R.
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.
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