Union Bank Q1 profit flat at Rs 228 cr

Agencies, Banking Bureau
Posted: 2008-07-26 01:16:12+05:30 IST
Updated: Jul 26, 2008 at 0116 hrs IST

Font Size

Feedback

Discuss

Green energy attracts global players 'Millionaires to rise in India despite slowdown'3 banks raise non-resident deposit rates Centre sends out 11.5% rate signal

current financial year.

Announcing the bank’s financial results for the quarter ended June 30, Romesh Sobti, managing director and CEO, IndusInd Bank, said, “We hold Rs 7,200 crore worth exposure in government securities as-on-date. Around 95% of this chunk falls in hold-to-maturity segment. So, we have not been impacted much. We do not have any structured derivatives in our books as we sell plain vanilla currency options.”

The bank’s gross income for Q1FY09 rose by 18% to Rs 583 crore as compared to Rs 496 crore in the corresponding quarter of the previous year.

For the quarter, the yield on advances rose by 124 basis points on year-on-year basis and the cost of deposits decreased leading to a jump in net interest income by 79% to Rs 103 crore as against Rs 57 crore in Q1FY08....

Single Page Format

Previous - 1 - 2 - 3

Post Comments

Comments: (Limit 3,000 characters)

Name		Message
Email ID
Subject

TERMS OF USE:
The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).

I agree to the terms of use.

Latest News

Print Edition

Events

Union Bank Q1 profit flat at Rs 228 cr

Post Comments