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Catholic Syrian Bank merges forex, treasury divisions
P Vinod Kumar
Kochi, Nov 17: Setting a new trend in banking operations in Kerala, the Thrissur-based Catholic Syrian Bank Ltd (CSBL) has kicked off integrated treasury operations by merging its foreign exchange and domestic money market divisions. CSBL is the first Kerala-based bank to amalgamate its treasury operations following the foot steps of big public sector banks like State Bank of India (SBI).The move is aimed at leveraging the lendable funds available with the bank, CSBL chairman RP Joshua has said.The new integrated treasury division will be located in Kochi, the commercial capital of Kerala. The bank is in talks with Canara Bank to finalise the premium for its proposed Rs 15-crore private placement of equity shares to shore up its capital base. The Bank will also come out with a Rs 20-crore preferential issue aimed to hiking its net worth to over Rs 90-crore by the end of the running calender year. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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