The Hindu Business Line : Friday, October 30, 2009

MONEY & BANKING

FINANCIAL PERFORMANCE: Bank of India net drops 58% on higher provisioning
Seeks Rs 2,000-crore capital infusion. Mumbai, Oct 29 Higher provisioning for bad loans dragged Bank of India’s net profit down by 58 per cent to Rs 323 crore in the second quarter ending September 30, 2009 as against Rs 763 crore in the ...

PERFORMANCE: Treasury gains, high interest income lift PNB profit 31%
To sell 26% stake in housing finance arm. New Delhi, Oct. 29 Punjab National Bank on Thursday announced a 31 per cent rise in net profit at Rs 927 crore for the quarter ended September 30, 2009 against Rs 707 crore in the corresponding quarter ...

FARM CREDIT: CM asks banks to speed up conversion of crop loans
Hyderabad, Oct 29 The Andhra Pradesh Chief Minister, Mr K. Rosaiah, has asked banks to speed up conversion of crop loans into term loans in drought and flood-hit districts in ...

FINANCIAL PERFORMANCE: Other income growth boosts Corporation Bank’s net in Q2
Plans to raise Rs 500-600 crore this year. Mumbai, Oct. 29 Corporation Bank’s net profit rose 52 per cent to Rs 292 crore in the second quarter of 2009-10, against Rs 192 crore in the corresponding quarter ...

FIXED DEPOSITS: Karnataka Bank cuts deposit rates
Karnataka Bank Ltd has reduced the rate of interest on domestic term deposits by 25-50 basis points on various maturities. A bank release said here on Thursday that the new rates would come into effect from November 1. The release said that ...

FINANCIAL PERFORMANCE: Interest income props up Vijaya Bank net
Vijaya Bank has posted net profit of Rs 108.43 crore for the second quarter of this fiscal, up 35.7 per cent from Rs 79.88 crore recorded during the corresponding period last year, on the back of improved net interest income and other ...

FINANCIAL PERFORMANCE: IOB second quarter net profit halves to Rs 176 cr
Chennai, Oct. 29 Indian Overseas Bank has reported a 50 per cent fall in its net profit for the July-September period of the current year. Its net slid to Rs 176 crore, compared with Rs 359 crore in the corresponding period of last year, ...

PRIVATE BANKS: KVB ropes in employees to increase savings bank accounts
Coimbatore, Oct. 29 Mopping up more savings bank accounts is on every bank’s agenda, because of the huge spreads that banks earn on those funds. But how does one actually translate that goal into something concrete? Simple. Rope in ...

FINANCIAL PERFORMANCE: LIC Housing net up on robust disbursements
Mumbai, Oct. 29 LIC Housing Finance’s net profit grew 27 per cent to Rs 171 crore in the September-ended quarter, aided by a robust growth ...

MERGERS & ACQUISITIONS: Second round of mergers of RRBs likely
Regional rural banks (RRBs) might witness a second round of amalgamation with the Finance Ministry considering a plan of asking sponsor banks with small RRBs in their fold to exit their respective equity holdings in those RRBs, according to ...

FINANCIAL PERFORMANCE: Dewan Housing Finance net up 70%
...

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Markets (Oct 29)

Nifty (at close)	4,750.55(-75.60)
US Dollar (Buy/Sell)	47.57/58
Brent crude (a bbl) Rs	3,539
Gold (a gram) Rs	1,490
Silver (a kg) Rs	26,885

Cross Currency Rates

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