Banking & Finance - Banking News and Financial News

StanChart FY 09 profit up 12% at Rs 1,907-cr

Standard Chartered Bank India, has clocked a 12 per cent growth in its profit after tax at Rs 1,907-crore for FY 09 while its income grew 22 per cent at Rs 8,747-crore in the same period.

Merger of State Bank of Indore with SBI on as per plan

The proposed merger of the State Bank of Indore with the parent State Bank of India is on as per the plan.

Small savings schemes lose rate lure

Though finance minister Pranab Mukherjee refused the bankers’ plea to cut the interest rate on savings schemes like the public provident fund in Budget 2009-10, the fact is, rural and small town investors are no longer keen to park their money in these schemes.

Reliance Cap to expand overseas

Anil Ambani group company Reliance Capital is planning to enter the domestic banking sector.

Bank Unions defer July 6 nation-wide strike

Bank Unions have deferred their nation-wide strike called to protest the proposed merger of State Bank of Indore with State Bank of India.

Union Bank appoints three new directors

Union Bank has appointed S Ravi, Arun Nanda and M S Sriram as directors to its board.

SBI, UBI revise foreign currency deposit rates

SBI and UBI revised interest rates on foreign currency non-resident bank deposits and non resident external rupee term deposits.

Yes Bank to raise Rs 500-cr by September

Yes Bank, plans to raise around Rs 500-crore by September as Tier-II capital and around USD 200-million in its Tier-I structure through an equity issuance, a top bank official said.

Andhra Bank eyes Rs 1,30,000-cr biz by end-FY 10

Public sector lender Andhra Bank is eyeing a total business of Rs 1.3 lakh-crore during this fiscal, a senior bank official said.

US regulators close seven banks

US bank regulators closed seven institutions on Thursday, including six banks in Illinois.

SBI offers Bharti $1 bn loan for MTN: Sources

SBI has offered a loan of up to $1 billion to Bharti Airtel to partly fund the firm's planned stake buy in South Africa's MTN.

‘StanChart in talks on RBS China, India units’

StanChart is in talks to purchase assets in China and India owned by Royal Bank of Scotland.

British bank Lloyds says it is cutting 2,100 more jobs

Britain's state-controlled Lloyds Banking Group said that it would cut 2,100 more jobs over the next three years.

Deutsche Bank India PAT up 11 pc at Rs 430 crore

Indian arm of Deutsche Bank has posted a Profit After Tax of Rs 430 crore for the 2009 fiscal.

SBI launches two new home loan products

State Bank of India launched two new home loan products - SBI Easy Home Loan and SBI Advantage Home Loan, with processing fee for both waived till September 30.

‘Banks create 16,200 jobs in Q1 FY10’

The banking sector has emerged as biggest job generator in the first quarter of current fiscal.

Dhanalakshmi Bank reduces deposit rates

Private sector lender Dhanalakshmi Bank said it has reduced interest on its deposits by up to 1 per cent across various slabs.

UCO Bank expects 25 per cent credit growth

UCO Bank is expecting to achieve a credit growth rate of 25 per cent during the current financial year, its chairman S K Goel said.

Italian bank inks pact with SBI

Banca Popolare di Vicenza, has signed an agreement with SBI for closer co-operation and bilateral trade.

Banks can give more comforts to farmers: RBI

Public sector banks have been authorised to give more relief to farmers under the debt relief scheme, provided the lenders do not ask the Government to bear the losses.

RBI to maintain ample liquidity: Thorat

'RBI will make a detailed assessment in July quarterly review of the economy.'

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