Regulators shut Dwelling House S&L in Pittsburgh; 73rd US bank failure this yearAugust 14th, 2009 Small thrift in Pennsylvania shut by regulatorsWASHINGTON — Regulators on Friday shut down Dwelling House Savings and Loan Association, a small bank in Pennsylvania, boosting to 73 the number of federally insured banks that have failed this year. The Federal Deposit Insurance Corp.
Regulators close 2 banks in Florida, marking 71 US bank failures this yearAugust 8th, 2009 Regulators close 2 banks in FloridaNEW YORK — Regulators on Friday shut down two banks in Florida, bringing to 71 the number of federally insured banks to fail this year under the weight of the weak economy and rising loan losses. The Federal Deposit Insurance Corp.
Dena Bank expecting Rs.500 crore capital infusionJuly 14th, 2009 KOLKATA - Public sector lender Dena Bank is expecting a Rs.500 crore capital infusion from the central government later this year, a top company official said here Tuesday. "We will receive Rs.300 crore as preferential shares and Rs.200 crore as perpetual non-cumulative preference shares (PNCPS)," Dena Bank chairman and managing director D.L.
Regulators shutter small Wyoming bank, bringing this year's failed bank tally to 53July 11th, 2009 Regulators shut small Wyoming bankNEW YORK — Regulators on Friday shut Bank of Wyoming, marking the 53rd failure this year of a federally insured bank. The Federal Deposit Insurance Corp.
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.
UCO Bank may slash deposit rates again next monthJune 29th, 2009 KOLKATA - The city-based UCO Bank is likely to slash deposit rates by 50-100 basis points soon, a top official said here Monday. The bank cut its lending rates by 50 basis points recently to 12 percent.
UCO Bank to slash lending rates next weekJune 19th, 2009 KOLKATA - The city-based UCO Bank will cut its deposit and lending rates by 50 basis points soon, a top bank official said here Friday. We would cut both the deposit and lending rates by 50 basis points from June 27, UCO chairman and managing director S.K.
World Bank raises 2009 China's economic growth forecast from 6.5 percent to 7.2 percentJune 18th, 2009 World Bank raises 2009 China growth forecastBEIJING — The World Bank is raising its 2009 growth forecast for China due to the country's stimulus-driven investment boom. But it also cautions that it is still too soon to say a sustained recovery is on the way.
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.
Ahmedabad's first co-operative bank in liquidity crisisMay 13th, 2009 AHMEDABAD - The city's first co-operative bank - Ahmedabad People's Cooperative Bank - is caught in a cash crunch and will have to seek the central bank's help to avoid closing down operations, officials said Wednesday. The bank's liquidity has dried up with the deposit base getting completely eroded, chairman Nayan Kumar Majmudar told reporters.
SBI may review rates by May-endMay 8th, 2009 KOLKATA - State Bank of India (SBI), the country's largest lender, may review rates by May-end as it has seen a steady rise in deposits last fiscal, a top official said here Friday. 'Our deposits are growing at fantastic rates; we see an excess of supply over demand,' SBI chairman O.P.
PNB reduces lending rate by 50 basis pointsApril 30th, 2009 NEW DELHI - The Punjab National Bank on Thursday reduced its benchmark lending rate by 50 basis points to 11 percent. The Benchmark Prime Lending Rate (BPLR) has been slashed from 11.5 per cent to 11 per cent effective tomorrow, the bank said in a statement.
IDBI Bank reduces interest rates on term depositsApril 29th, 2009 NEW DELHI - Taking a cue from the State Bank of India, the state-run IDBI Bank Wednesday announced cut in its interest rates on retail term deposits by 25-50 basis points across various maturity buckets. The bank has also realigned its maturity buckets by bifurcating the three-year-five-day to 10 years maturity bucket into two separate buckets : three-year-five-day to five years, and five years to 10 years.
HSBC India to go slow in consumer credit businessApril 16th, 2009 KOLKATA - HSBC India will go slow in the consumer credit business in 2009 following high level of 'impairment' of assets last year, a top official said here Thursday. 'We continue to do lending in the retail space,' Naina Lal Kidwai, who was appointed the country head of HSBC India Thursday, told reporters.
Bankers say no to lowering lending ratesApril 8th, 2009 MUMBAI - Concerned over the rising non-performing assets (NPA) and high cost of deposits, India's bankers Wednesday told the Reserve Bank of India (RBI) that there was not much room for lending rates to go down. 'If there is a sharper downturn, it can further impact the asset quality.
KOLKATA - State-run IDBI Bank is expecting a loan disbursement growth of 18 percent and deposit growth of 20 percent this fiscal, considerably lower than that achieved in the last financial year, a top bank official said here Friday.
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