Andhra Bank operating profit up to Rs 107.6 cr
Andhra Bank has posted a growth of 23.32 per cent in operating profit to Rs 107.60 crore for the first-half ended September 30, 1999, against Rs 87.25 crore for the corresponding period last year. The bank's total deposits have increased to Rs 11,690 crore for the half year, registering a 12 per cent growth. Advances reached Rs 5,128 crore, recording 7.35 per cent rise. During the first half, the bank mobilised Rs 150-crore tier-II capital.T-bills cut-off price
The Reserve Bank of India on Wednesday set a cut-off price of Rs 90.73 at the 364-day treasury bills auction, implying an yield of 10.25 per cent. The yield is lower compared with 10.35 per cent at the previous auction. RBI said it received 42 competitive bids worth Rs 1,353 crore at the auction, of which it accepted 14 bids for the notified amount of Rs 5 crore. There was no devolvement on the RBI.
J&K Bank sanctions Hudco loan
Jammu and Kashmir Bank has sanctioned a term loan of Rs 50 crore to Housing and Urban Development Corporation for part-financing its housing activities. The loan will have a tenure of 10 years and is repayable in equal half-yearly instalments.
Central Bank donates Rs 51 lakh
Central Bank of India has decided to contribute Rs 51 lakh to the prime minister's national relief fund for the aid of cyclone victims of Orissa. The directors of the banks have decided to contribute their sitting fees for the cause.
StanChart, Syndicate Bank sign LoI
StanChart Bank and Syndicate Bank on Tuesday signed a letter of intent for launching a co-branded credit card for customers of the Indian bank. "Syndicate bank would do the marketing and distributing of the co-branded card through its personnel at its branches.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.