South Africa's current account deficit decreasesSeptember 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.
State Bank net profit up 42 percentJuly 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.
ICICI Bank net profit up 21 percentJuly 25th, 2009 MUMBAI - India's largest private lender ICICI Bank Saturday reported a 21 percent increase in net profit at Rs.878 crore ($183 million) for the quarter ended June 30, as compared to Rs.728 crore in the same period last year. The total interest income fell 5.02 percent to Rs.1,985 crore in the quarter from Rs.2,090 crore in the corresponding period last year, the bank said in a regulatory statement.
Wipro net up 12 percent in first quarterJuly 22nd, 2009 BANGALORE - Wipro Ltd posted net profit of Rs.10.16 billion (Rs.1,016 crore) for the first quarter (April-June) of this fiscal (2009-10), registering 12 percent year-on-year (YoY) growth as per the Indian accounting standard. In a regulatory filing Wednesday, the IT bellwether said consolidated revenue for the quarter (Q1) was Rs.62.74 billion (Rs.6,274 crore), an increase of five percent YoY as per the Indian accounting standard.
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 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.
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.
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 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.
Indian Oil's third quarter net up 41 percentJanuary 29th, 2009 NEW DELHI - State-run oil major Indian Oil Corp (IOC) Friday said its net profit increased 41.5 percent to Rs.29.58 billion for the quarter ended Dec 31 as compared to Rs.20.9 billion in the corresponding period a year ago. The total income of the company rose 10.6 percent to Rs.723.51 billion in the quarter under review from Rs.654.04 billion, a company statement said.
Three Indian banks forge ties to float Malaysian ventureJanuary 29th, 2009 CHENNAI - Three Indian banks - Indian Overseas Bank (IOB), Bank of Baroda and Andhra Bank - will soon float a Malaysian banking joint venture to take advantage of the opportunities there, said a top official. 'We hope to get the green signal from the Malaysian authorities to start banking operations there by March,' IOB's chairman and managing director S.A.
Vijaya Bank net up 24 percent in third quarterJanuary 22nd, 2009 BANGALORE - State-run Vijaya Bank Friday reported a net profit of Rs.1.57 billion (Rs.157 crore/$32 million) for the third quarter this fiscal, compared to Rs.1.27 billion a year ago, a growth of 24 percent. Total income for the quarter under review increased to Rs.16.35 billion from Rs.11.39 billion, posting 43.5 percent year-on-year growth.
Canara Bank net up 53 percent in third quarterJanuary 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.
UCO Bank net profit rises over 100 percentJanuary 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.
Indian Bank net up 14 percentJanuary 20th, 2009 CHENNAI - The city-based Indian Bank has posted a net profit of Rs.3.5 billion for the third quarter ended Dec 31, up 14 percent, as against Rs.3.07 billion declared in the corresponding period of 2007. The bank's total income went up 23.6 percent to Rs.20.71 billion (Rs.2,071 crore) during the period under review from Rs.16.76 billion (Rs.1,676 crore) earned during the third quarter of the last fiscal.
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