Financial Daily from THE HINDU group of publications
Friday, Nov 28, 2003
Financial Daily from THE HINDU group of publications Friday, Nov 28, 2003 |
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Money & Banking
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Private Banks LKB to open Kabul branch Our Bureau
Kochi , Nov. 27 AS part of its expansion programme overseas, the Kerala-based Lord Krishna Bank Ltd (LKB), is in the process of opening a branch in the Afghan capital, Kabul. The bank had applied for the RBI licence and the approval was awaited, Mr R.M. Nayak, Managing Director and Chief Executive Officer of the bank told media persons here. Besides, it had plans to open branches in some North African countries such as Sudan, for which it was in the process of conducting a survey, he said. For the convenience of NRI customers, the bank signed a rupee drawing arrangement here on Wednesday with the Wall Street Exchange Centre Llc, Dubai. Similar arrangements were in the offing with more exchange houses in Saudi Arabia, Qatar, Bahrain and Sultanate of Oman, he said. It had already such arrangements in Abu Dhabi, he added. Announcing the results for April - September 2003-04, Mr Nayak said that the bank made a net profit of Rs 10.25 crore during the first half as against Rs 9.19 crore in the corresponding period in 2002-03. The total deposits as on September 30, 2003 stood at Rs 1,790.28 crore as against Rs 1,449.60 crore on the same date the previous year.
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