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.
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.
ICICI Bank cuts lending rates by half a percentJune 4th, 2009 MUMBAI - India's largest private sector lender ICICI Bank has cut the floating reference rate (FRR) by 50 basis points, including the floating home loan rate, the company announced Thursday. The revised FRR will be 12.75 percent as against 13.25 annually, the bank said in a regulatory statement.
State Bank of India net profit up 45.62 percentMay 9th, 2009 MUMBAI - The country's largest lender State Bank of India (SBI) Saturday reported a 45.62 percent rise in its net profit for the quarter ended March 31. The bank said in a regulatory statement that its fourth quarter profit stood at Rs.2,742.31 crore, up from Rs.1,883.25 crore in the like period last year.
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.
Bank of China says 1Q net profit falls 14 percent on lower fees and interest incomeApril 28th, 2009 Bank of China's 1Q net profit falls 14 percentSHANGHAI — Bank of China Ltd., the country's third-largest commercial bank by assets, said Tuesday its first-quarter profit fell 14.4 percent as slowing exports and imports cut into its trade finance business. The Beijing-based lender said profit fell to 18.57 billion yuan ($2.7 billion), or 0.07 yuan per share.
China's biggest bank, ICBC, says quarterly profit up 6 percent despite fall in interest incomeApril 27th, 2009 Chinese bank ICBC says 1Q profit up 6 percentBEIJING — Industrial & Commercial Bank of China Ltd., the country's biggest commercial lender by assets, said Monday its quarterly profit rose 6 percent from a year earlier despite a double-digit fall in interest income. Profit for the three months ending March 31 was 35.1 billion yuan ($5.1 billion), or 0.11 yuan per share, the Beijing-based lender said.
China Construction Bank says 1Q profit down 18 percent on lower interest; fee income risesApril 25th, 2009 China Construction Bank 1Q profit down 18 percentBEIJING — China Construction Bank Ltd., the country's second-biggest commercial lender by assets, said Saturday its first quarter profit fell 18 percent as interest rate cuts by China's central bank hurt revenues. Profit for the three months ending March 31 was 26.3 billion yuan ($3.8 billion), or 0.11 yuan per share, the Beijing-based lender said.
PNC Financial Services 1st-qtr profit rises 22 percent, beats Wall Street's expectationsApril 23rd, 2009 PNC Financial 1Q profit jumps 22 percentNEW YORK — PNC Financial Services Group Inc. on Thursday reported a surprising 22 percent jump in first-quarter profit, boosted by its purchase of National City Corp.
Shikha Sharma new managing director of Axis BankApril 20th, 2009 MUMBAI - Axis Bank Ltd Monday said it has appointed Shikha Sharma as the bank's managing director and chief executive for the next five years. Sharma, currently chief of ICICI group's life insurance business, will replace Axis Bank's present chief executive P.J.
Shikha Sharma new managing director of Axis BankApril 20th, 2009 MUMBAI - Axis Bank Ltd Monday said it has appointed Shikha Sharma as the bank's managing director and chief executive for the next five years. Sharma, currently chief of ICICI group's life insurance business, will replace Axis Bank's present chief executive P.J.
Shikha Sharma new managing director of Axis BankApril 20th, 2009 MUMBAI - Axis Bank Ltd Monday said it has appointed Shikha Sharma as the bank's managing director and chief executive for the next five years. Sharma, currently chief of ICICI group's life insurance business, will replace Axis Bank's present chief executive P.J.
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.
ICICI Bank slashes home loan ratesMarch 7th, 2009 MUMBAI - Two days after the country's central bank lowered key rates, private lender ICICI Bank Friday cut interest rates in new home loans by 25-50 basis points. For home loans less than Rs.2 million, the lending rate would come down to 9.75 percent from 10 percent, a bank spokesperson said.
ICICI Bank, LIC Housing cut home loan ratesDecember 30th, 2008 MUMBAI - Two more lending institutions - ICICI Bank and LIC Housing - Wednesday cut their interest rates on home loans by up to 75 basis points (bps). While LIC Housing Finance cut rates for existing home loan borrowers by 75 bps effective Thursday, ICICI cut rates by 50 bps with immediate effect.
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