MONEY & BANKING
INSIGHT
Banking licence, the original sin
Another bank crash, another moratorium, another merger with a public sector bank. It has all become very predictable. One can well empathise with the Reserve Bank of India. Allowing the private sector to start banks was acclaimed with much ...
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FOREX
Rupee volatile; bonds decline
MUMBAI: The rupee moved two-way against the dollar on Tuesday. It closed at 46.21/22, stronger by six paise from Monday's close of 46.27/28. The trading sessions in the morning saw a lot of demand for dollars with State-run banks also ...
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FINANCIAL PERFORMANCE
SBI first quarter net up 17.55 pc
STATE Bank of India has recorded a 17.55 per cent growth in net-profit for the first quarter ended June 30, 2004, at Rs 1,058.40 crore as against a net profit of Rs 900.36 crore in the corresponding period in the previous year. However, the ...
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BoB net profit up 20 pc in Q1
BANK of Baroda has recorded a 19.85-per cent increase in net profit at Rs 292.99 crore in the first quarter of the fiscal ended June 30, 2004, against a net profit of Rs 244.47 crore in the corresponding period the previous year. Total income ...
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Marginal drop in SBI income in Q1
STATE Bank of India's total income during the quarter dropped to Rs 9,205.2 crore from Rs 9,523.2 crore in the corresponding period, the previous fiscal. Net interest income of the bank rose by 10.03 per cent to Rs 2,954.07 crore (Rs 2,684.69 ...
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Vijaya Bank net rises 20 pc; provisioning up
THE State-owned Vijaya Bank reported a net profit of Rs 97.55 crore first quarter of the current fiscal, up 20.58 per cent from Rs 80.90 crore a year ago. Total income of the bank crept up 1.3 per cent to Rs 610.50 crore from Rs 602.68 crore a ...
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Dewan Housing Q1 net up 23 pc
DEWAN Housing Finance Corporation Limited has announced an increase of 23 per cent in net profit, year-on-year, for the quarter ended June 30, 2004. Net profit increased to Rs 5.61 crore (Rs 4.56 crore). Income from operations rose to Rs 35.28 ...
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HOUSING FINANCE
PNB Housing Fin to offer `hybrid' product
PNB Housing Finance Ltd proposes to sanction Rs 550 crore of housing loans in the fiscal 2004-05. The company had sanctioned loans of Rs 350 crore last year. Addressing presspersons in Chennai, Mr K.G. Sathyasingan, Managing Director, PNB ...
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CREDIT RATING
Oriental Bank bonds under rating watch
NEW DELHI: ICRA has placed the `LAAA' rating assigned to the Tier-II bonds of Oriental Bank of Commerce (OBC) under rating watch. The move comes in the wake of the proposed merger of Global Trust Bank (GTB) with OBC. The rating agency ...
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PRIVATE BANKS
Who is buying GTB stock?
MARKET players were puzzled today to find an abnormally high volume in the Global Trust Bank stock. A total of around 7-crore shares changed hands on the BSE and the NSE. On the NSE, the Rs 10 share traded within a range between 10 paise and ...
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Kotak Mahindra net up 6 pc
BUOYED by revenues from the stock broking and insurance businesses, Kotak Mahindra Bank's net profit grew 6 per cent to Rs 30.70 crore for the first quarter ended June 30. During the comparable quarter last year, the bank had posted a net profit ...
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PUBLIC SECTOR BANKS
Indian Banks' special unit
CREDIT MARKET
RBI clarification on education loans
MERGERS & ACQUISITIONS
Oriental Bank sees Rs 800-cr gap on merger
ORIENTAL Bank of Commerce (OBC), which is acquiring Global Trust Bank (GTB) as per the RBI scheme, is confident of recovering a good amount of the latter's non-performing assets of (NPAs) at the earliest. Talking to newspersons immediately ...
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TRADE & LABOUR UNIONS
Section of bank staff in Kerala to strike work today
A SECTION of the bank staff in the State will stay away from work on Wednesday in protest against the continuing attack on banks in the State in the wake of the suicide by an engineering college student in Thiruvananthapuram. Mr K.V. Acharya, ...
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Cross Currency Rates
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