NRI deposits in Kerala banks grow to Rs.34,649 crore

September 1st, 2009 THIRUVANANTHAPURAM - Alcohol sales in Kerala Monday reached a record single-day high to touch Rs.34.13 crore. According to N.

July 31st, 2009 BANGALORE - State-run Syndicate Bank posted a net profit of Rs.262 crore for the first quarter this fiscal, registering a whopping growth of 198 percent year-on-year from Rs.88 crore in the like period last year. "We have nearly trebled our net profit in the first quarter on a healthy 16.4 percent growth in net interest income (NII) to Rs.586 crore from Rs.503 crore a year ago and better management of treasury operations," bank executive director V.K.

July 25th, 2009 BANGALORE - State-run Vijaya Bank returned to the black by posting a net profit of Rs.143 crore for the first quarter this fiscal as against a net loss of Rs.766 million in the same period of previous fiscal. "Our core earnings during the first quarter have been impressive despite slackened business growth.

July 23rd, 2009 CHENNAI - The city-based Indian Bank closed the first quarter with a 52 percent increase in net profit and nearly 21 percent increase in total business as compared to the corresponding period in the previous fiscal, said a top bank official here Thursday. "Despite the challenging economic environment, the bank has earned a net profit of Rs.331.66 crore and did a total business of Rs.1,28,701 crore (deposits plus advances) as against Rs.217.62 crore and Rs.1,06,691 crore posted during the corresponding period of the previous year," said the bank's chairman and managing director M.S.

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 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.

June 25th, 2009 THIRUVANANTHAPURAM - Deposits by non-resident Indians (NRIs) in Kerala banks grew from Rs.29,889 crore in March 2008 to a record high of Rs.37,019 crore as on March 31, 2009, according to the State Level Bankers Committee (SLBC). This was revealed at the 99th meeting of SLBC that took place here Thursday.

June 11th, 2009 CHENNAI - City Union Bank, an old generation private lender based in Tamil Nadu, Thursday said it will raise Rs.250 crore over the next two years to fund its expansion plans. "Our target is to have a net worth of Rs.1,000 crore in two years time.

June 1st, 2009 RAIPUR - The Chhattisgarh government Monday said its royalty earnings from minerals rose 20 percent in 2008-09 to Rs.1,237 crore. "The state had made earnings of Rs.1,237.29 crore from minerals in 2008-09, comparing to Rs.1,028.38 crore in 2007-08, registering an overall 20 percent increase," an official statement said.

April 25th, 2009 THIRUVANANTHAPURAM - Banks in Kerala have posted a marginal growth of 6.3 percent in advances from Rs.80,131 crore in June 2008 to Rs.85,174 crore as on Dec 31, according to the State Level Bankers Committee (SLBC). The SLBC in a meeting here said loans given to the education sector reported the biggest jump when it went up from Rs.2,920 crore in June to Rs.4,049 crore in December.

April 24th, 2009 THIRUVANANTHAPURAM - State Cooperation Minister G. Sudhakaran Friday said the total deposits in the 1,614 cooperative banks in Kerala would keep increasing despite the slowdown and touch Rs.50,000 crore by November.

April 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.

February 18th, 2009 THIRUVANANTHAPURAM - Kerala's 2006 per capita debt stood at over Rs.14,300 - the highest among states in south India - against the national average of around Rs.9,000. This was stated in the Economic Review 2008 tabled in the Kerala Assembly Thursday.

January 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.

January 16th, 2009 THIRUVANANTHAPURAM - Kerala Finance Minister Thomas Isaac Saturday said the state is soon going to feel the heat of the economic slowdown as remittances from abroad are certain to fall in the coming months. 'It is going to be a tough time on account of the fall in remittances which incidentally have been keeping the state afloat for several years,' Isaac told reporters after the meeting of the Kerala State Planning Board here.