The Hindu Business Line : `Banks must look at new avenues of income to offset treasury operation losses'

THE Chairman and Managing Director of Corporation Bank, Mr V.K. Chopra, has said that banks will have to look for alternative avenues to compensate for the income forfeited in treasury operations.

Speaking at the annual general meeting of Bankers' Club of Mangalore recently, he said the banks were earning handsome profits through treasury operations during the low-interest rate regime.

While the depositors seek higher rates of interest for their money, borrowers want to strike a deal for lower rates of interest. The prevailing competition in the industry has further aggravated the situation, he said. Mr Chopra said that bankers should exchange healthy and prudent information among themselves to minimise bad assets.

A Bankers' Club release said here on Saturday that Mr Chopra also stressed on the need to recover more to earn more. He expressed concern on burgeoning non-performing assets (NPAs) in retail lending, especially in the housing loan sector.

Office-bearers

Mr Anantakrishna, Chairman and Chief Executive Officer of Karnataka Bank Ltd, was unanimously re-elected as the president of the club for the fifth consecutive term.

Other office-bearers are: Mr K. Achuta Pai, General Manager, Corporation Bank (executive president); Mr R. K. Madhukar, General Manager of Canara Bank; Mr Venkatachalapathy, Assistant General Manager of State Bank of India, and Mr B. K. Bhat, Regional Manager of Syndicate Bank (vice-presidents); Mr M. Dinkar Kamath, AGM of Corporation Bank (secretary); Mr M. Prakash Kudva, Chief Manager of Corporation Bank (joint-secretary); and Mr M.V. Chandrashekar Karanth, Deputy General Manager of Karnataka Bank Ltd (treasurer).

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Currency swap curve moves higher

Karnataka Bank Q3 net steady at Rs 37 crore

Ministry proposes super regulator for financial sector

Bonds limp over oil prices, FII exit

Basel II norms - a tough call for PSBs

Public sector banks raise farm lending

`Banks must look at new avenues of income to offset treasury operation losses'