Bank of Baroda becomes a registered bank in New ZealandSeptember 1st, 2009 WELLINGTON - The Reserve Bank of New Zealand has given permission to the Bank of Baroda to begin trading in the country, making it the nation's 19th registered bank. India's third-largest public sector bank first indicated a desire to enter New Zealand when then-chairman Anil Kumar Khandelwel visited the country in 2007, stuff.co.nz reports.
Italy's UniCredit posts 74 percent drop in second-quarter net profitAugust 4th, 2009 UniCredit reports 2Q earns down 74 percentMILAN — The Italian bank UniCredit SpA says second-quarter net profit fell 74 percent due to lower fees and commissions. The group said in a statement Friday that net profit dropped to euro490 million ($705 million), compared with euro1.91 billion in the second quarter of 2008.
US stocks rising sharply as overseas markets observe solid gainsAugust 3rd, 2009 NEW YORK — U.S. stock futures are sharply higher, buoyed by broad gains in overseas markets, as solid reports from European banks give investors a burst of optimism.
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.
Swiss bank Credit Suisse reports 29 percent rise in 2Q net profit to $1.41 billionJuly 23rd, 2009 Credit Suisse reports $1.41 billion 2ndQ profitZURICH — Swiss bank Credit Suisse Group has reported a 29 percent rise in second-quarter net profit to 1.57 billion francs ($1.41 billion). The bank says the results include one-time charges, legal costs and tax benefits.
US Bancorp 2nd-qtr profit falls 50 percent on higher credit costs, charge to repay gov't loanJuly 22nd, 2009 US Bancorp 2Q profit tumbles 50 percentMINNEAPOLIS — U.S. Bancorp says its second-quarter profit dropped 50 percent as credit costs rose and it repaid a government loan.
Sweden's Nordea posts 11 pct drop in 2Q profit, but raises full-year outlookJuly 21st, 2009 Nordea posts 11 pct drop in 2Q net, raises outlookSTOCKHOLM — The Nordic region's biggest financial group, Nordea Bank AB, on Tuesday reported an 11 percent drop in second-quarter net profit, mainly due to higher loan losses and staff costs, but raised its full-year outlook. Net profit in the quarter fell to euro616 million ($874 million), down from euro692 million in the same quarter last year.
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.
H&R Block reports strong fourth-quarter profit on higher bank income, tax prep feesJune 29th, 2009 H&R Block reports better-than-expected 4Q profitKANSAS CITY, Mo. — H&R Block, the nation's largest tax preparer, has reported better-than-expected profit for its fiscal fourth quarter as higher fees and more consumer financial services income offset a decline in the number of tax returns it prepared.
Wall Street heads for higher open as investors await jobs data, retail sales reportsJune 4th, 2009 US stock futures point higher ahead of jobs dataNEW YORK — Stock futures are indicating a higher opening for the U.S. markets as investors await sales reports from retailers and data on the labor market.
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.
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.
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.
United Bank posts 27 percent growth in advancesApril 16th, 2009 KOLKATA - Public sector lender United Bank of India (UBI) Thursday reported 27 percent growth in advances at Rs.36,000 crore and 16 percent rise in deposits at Rs.54,000 crore in 2008-09. 'Our bottomline is likely to be between Rs.150-200 crore after we close our books,' UBI chairman and managing director S.C.
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.
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