Bonjour, new guests from small-town India
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
The Chennai-headquartered Indian Bank has a reported 35 per cent drop in net profit at ₹207 crore for the first quarter ended June 30, 2014, against ₹317 crore reported in the comparable previous year quarter. T.M. Bhasin, Chairman and Managing Director of the bank, pointed out that there was an exceptional profit of ₹314 crore on account of trading in securities in the first quarter of 2013-14, as compared to ₹36 crore in the quarter under consideration. “If we set aside this treasury profit, the net profit from core operations would have been higher by ₹168 crore,” he explained.
Total income during the quarter fell to ₹4,144 crore (₹4,195 crore).
The gross non-performing assets rose to 4.01 per cent (₹4,722 crore) from 3.4 per cent (₹3,722 crore) last year. Net NPAs were at 2.48 per cent, or ₹2,856 crore (2.31 per cent, ₹2,485 crore in similar previous quarter). During the quarter the bank shed high-cost debt worth ₹7,000 crore.
Total deposits as on June 30 were up to ₹1,55,336 crore (₹1,49,582 crore). The bank also registered growth in CASA (current account/savings account) share at 29.18 per cent (27.97 per cent). Gross advances improved to ₹1,17,653 crore (₹1,09,213 crore).
The bank’s net interest margin dropped to 2.5 per cent from 2.94 per cent last year.
The capital adequacy ratio as per Basel II was at 13.71 per cent for quarter ended June 2014, of which Tier I capital stood at 10.97 per cent. As per Basel III, it was at 13.28 per cent.
Taking into account the ploughback of profit, the capital adequacy ratio would improve to 13.91 per cent (Basel II) and 13.47 per cent (Basel III), Bhasin said.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Citroen’s first vehicle sports a novel design and European interiors. It is also meant to be as comfortable as ...
The pandemic is only the tip of the iceberg that the country’s cash-poor airlines — both regional and national ...
The government is yet to specify the framework of its recently announced old vehicle scrappage policy
With initial public offerings galore, we give you a cheat sheet to score some good grades
Biggest risk in selling funds in a rising scenario is exiting early and missing out on further gains
Go for a standard vector-borne diseases policy if you don’t have a regular health plan
No credit risk is an attraction, but note the nuances
With the public looking beyond mainstream media for reports from the ground, independent digital platforms are ...
Salty, buttery, cheese coated or with maple syrup and bacon — popcorn is lending its adaptable self to gourmet ...
A toast to a traditional drip irrigation system still going strong in the Northeast
Raza Mir’s ‘Murder at the Mushaira’ works well as a historical novel that captures the sunset years of the ...
Its name is the starting point of a brand’s journey and can make a big difference in the success sweepstakes
Sober spirits are the in thing
A peek into where ad spends went last year and where they are headed tomorrow
Can Swiggy Instamart disrupt the ecommerce groceries space, currently ruled by the Amazons and Big Baskets? ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor