Catholic Syrian Bank

The death toll from two days of clashes between security forces and loyalists of ousted Syrian President Bashar Assad and revenge killings that followed has risen to more than 600, a war monitoring group said Saturday, making it one of the deadliest acts of violence since Syria's conflict began 14 years ago. The clashes, which erupted Thursday, marked a major escalation in the challenge to the new government in Damascus, three months after insurgents took authority after removing Assad from power. The government has said that they were responding to attacks from remnants of Assad's forces and blamed individual actions for the rampant violence. The revenge killings that started Friday by Sunni Muslim gunmen loyal to the government against members of Assad's minority Alawite sect are a major blow to Hayat Tahrir al-Sham, the faction that led the overthrow of the former government. Alawites made up a large part of Assad's support base for decades. Residents of Alawite villages and tow

Private sector lender CSB Bank on Friday reported a 3 per cent decline in its net profit to Rs 151 crore for the fourth quarter ended March 2024, mainly due to a rise in bad loans. The Kerala-based lender had earned a net profit of Rs 156 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 991 crore against Rs 762 crore a year ago, CSB Bank said in a regulatory filing. The interest income grew to Rs 795 crore during the period under review from Rs 636 crore in the corresponding quarter a year ago. On the asset quality side, the bank's gross non-performing assets (NPAs) rose to 1.47 per cent of gross advances as of March 31, 2024, from 1.26 per cent at the end of March 2023. Net NPAs also rose to 0.51 per cent of the advances from 0.35 per cent at the end of 2024. As a result, provisions for bad loans rose significantly to Rs 29 crore compared to Rs 3 crore in the same quarter a year ago.

The bank management and shareholders have reached compromise formulae on the issue of appointing the latter's representatives as directors on the bank's board

These banks need to understand their limitations and balance tradition with new age banking systems, they say

Our positioning as a competition to the NBFCs and not the bigger banks impressed investors, says Rajendran

Rajendran's current tenure was slated to end on December 9, 2019

The company, which aims to raise up to Rs 410 crore, has fixed a price of Rs 193-195 per share for the IPO.

The leading managers for the issue are Axis Capital and IIFL Securities

The bids for the offer can be applied for a minimum of 75 shares and its multiples

The private sector lender, which filed draft papers with the markets regulator in August, received its observations on October 1, latest update with Sebi showed

These banks, taking a cue from the recent credit crisis, are reworking their underwriting practices

The management has said the present name had been a locally known one in Kerala and nearby states for around a century, though it now has branches in many states

Menon is currently the chairman and managing director of Thomas Cook India

Prem Watsa's Fairfax India Holdings secured two board seats, including the chairman's post, when it acquired a 51-per cent stake in the bank.

Fairfax agreed to invest around Rs 12 billion in the bank

This is the first stake sale of an Indian bank to a foreign non-banking entity since the apex bank tweaked ownership norms in May 2017

We need to grow the balance sheet, which did not grow for the past three-four years due to lack of capital

Fairfax's interest in CSB reaffirms this growth strategy

Fairfax investment values bank at Rs 23 billion

Kerala-based Catholic Syrian Bank (CSB) hopes to conclude its equity raising exercise by December.T S Anantharaman, chairman, said the second half of the exercise would be concluded by then. CSB needs Rs 400-600 crore, from current growth projections. Sources say SSG Capital Management, InCred Finance, Aion Capital, JM Financial and Everstone-backed Indo Star Capital are among the investors which have shown interest. CSB's MD & CEO C V R Rajendran, managing director of CSB, would only say that 25-30 investors had shown interest and three-odd rounds of discussion were over.On an initial public offer of equity, he said: "We have told the Reserve Bank that CSB will be listed in the next one and a half years."CSB had a net loss of Rs 149 crore in 2015-16 and then turned around in 2016-17, with net profit of Rs 1.6 crore, on the back of treasury gains. Anatharaman said the challenge was to have growth in operating profit this year without the benefit of treasury gain. The operating ...