Bank of England says growth in lending to individuals slows in JuneJuly 29th, 2009 UK lending growth slows in JuneLONDON — Net lending to individuals in the United Kingdom rose by 400 million pounds ($655 million), a drop of 100 million pounds from the six-month average, the Bank of England said Wednesday. Net mortgage lending rose by 300 million pounds, the same as in May but only a third of the April gain and consumer credit rose by 100 million pounds.
HDFC Bank cuts lending rate by 25 basis pointsJuly 20th, 2009 NEW DELHI - The country's second largest private lender HDFC Bank Monday cut its benchmark lending rate by 25 basis points to 15.75 percent. "The benchmark prime lending rate has been reduced to 15.75 percent per annum with effect from July 20," the bank said on its website.
Allahabad Bank reduces lending rateJune 27th, 2009 KOLKATA - State-run Allahabad Bank Saturday decided to slash its benchmark prime lending rate by 25 basis points from July 1.
"The bank has decided to reduce the benchmark prime lending rate by 25 basis points from the existing 12.25 percent to 12 percent with effect from July 1, 2009," the bank said in a regulatory statement.
UBI to reduce interest rates by 25 bpsJune 24th, 2009 KOLKATA - The state-owned United Bank of India (UBI) has reduced the benchmark prime-lending rate (BPLR) by 25 basis points, a bank statement said here Wednesday. The bank has reduced prime-lending rate by 25 basis points to 12 percent with effect from July 1, 2009, S.C.
United Bank to hit primary market in DecemberJune 22nd, 2009 KOLKATA - The state-owned United Bank of India (UBI) is likely to enter the primary market by December, a top bank official said here Monday. "We plan to raise about Rs.300-400 crore from the IPO (initial public offer)," UBI chairman and managing director S.C.
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.
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.
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.
Punjab National Bank cuts lending rateApril 30th, 2009 NEW DELHI - Public sector lender Punjab National Bank (PNB) has reduced its benchmark lending rate by 50 basis points to 11 percent, it announced Thursday. The benchmark prime lending rate (BPLR) has been slashed from 11.5 percent to 11 percent from Friday, the bank said in a statement.
Citibank reduces PLR to 14.75 percent from 15 percentApril 29th, 2009 MUMBAI - Citibank today announced it has reduced its Prime Lending Rate (PLR) by 25 basis points to 14.75 per cent from the present 15 per cent. The new PLR will be effective May 1, 2009.
Central bank cuts key ratesApril 21st, 2009 MUMBAI - India's Central bank cut key rates Tuesday by 25 basis points in a move to infuse more liquidity into the system and stimulate lending growth. The Reserve Bank of India (RBI) cut the repo rate by 25 basis points from the current 5 percent to 4.75 percent, while the reverse repo rate has been brought down to 3.25 percent from 3.5 percent earlier.
Punjab National Bank rules out further cut in interest ratesMarch 27th, 2009 NEW DELHI - The state-owned Punjab National Bank (PNB) feels it would be difficult to lower lending rates any further if the government did not slash interest rates on existing deposits. 'The Reserve Bank of India (RBI) is not reducing interest on savings bank deposits.
Two more banks cut lending ratesJanuary 1st, 2009 NEW DELHI - Two more state-owned banks joined the banking community in cutting lending rates by 50 to 70 basis points. In a regulatory statement, State Bank of Travancore announced Friday that it had revised the benchmark prime lending rate (BPLR) from 13.25 percent to 12.75 percent with effect from Jan 1.
More state-owned banks reduce lending ratesDecember 28th, 2008 NEW DELHI - Dena Bank, Punjab National Bank (PNB) and Bank of Baroda will reduce their benchmark prime lending rates (BPLR) from Jan 1, the three state-owned banks announced Monday. Dena Bank will cut its BPLR by 75 basis points from 13.5 percent annually to 12.75 percent.
Punjab National Bank, Bank of Baroda reduce lending ratesDecember 28th, 2008 NEW DELHI - Punjab National Bank (PNB) Monday reduced its benchmark prime lending rate (BPLR) by 50 basis points from 12.5 percent annually to 12 percent from Jan 1. Bank of Baroda too reduced its BPLR by 75 basis points from existing 13.25 percent to 12.5 percent, also from Jan 1.
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