State Bank of Hyderabad (SBH) reported a 36.72 per cent growth in net profit to Rs 135.19 crore for the third quarter ended December 31, 2007, as compared with Rs 98.88 crore during the corresponding

SBH Q3 net up 37% to Rs 135 cr

Business Standard

Manipal-based public sector Syndicate Bank today reported 21 per cent increase in net profit to Rs 273.20 crore for the third quarter ended December 31, 2007, compared with the corresponding quarter

Syndicate Bank net up 21% on high other income

Hit by high cost deposits, Oriental Bank of Commerces (OBC) net profit dipped by 24 per cent to Rs 138 crore for the third quarter ended December 31, 2007, compared with Rs 182 crore in the same

OBC profit down 24% on costly deposits

Bank of Baroda has posted a 52.2 per cent growth in net profit for the third quarter ended December 2007 at Rs 501.5 crore on jump in income from sale of investments including equity, recoveries from

BoB net up 52% to Rs 501 cr

The yen rose against all 16 of the most-active currencies as credit-market losses spurred investors to cut holdings of higher-yielding assets funded in Japan. 


Yen, yuan gain on further US Fed rate cut buzz

The news is still being digested almost a week later: Venerable French bank Societe Generale lost 4.9 billion euros ($7.2 billion) in unauthorized trades by 31-year-old Jerome Kerviel, a junior trader

Inspector Clouseau finds rat at SocGen

IndusInd Bank has posted a net profit of Rs 25.04 crore in the quarter ended December 31, 2007, compared with Rs 21.63 crore in the corresponding quarter last year. Total income was up 22.59 per cent

IndusInd net at Rs 25 cr

The bird flu in West Bengal has brought to surface the low penetration of poultry insurance in the eastern part of the country. 


Bird flu exposes woes in poultry insurance

Bank customers can buy movie, airline tickets using mobile phones.


StanChart, PayMate in m-commerce deal

The Bank has signed an MoU with Ashok Leyland for providing easy finance to vehicle buyers across its 527 branches

Karnataka Bank to provide loans for Ashok Leyland trucks

HSBC announces 2 key appointments in India

Press Trust of India

State Bank of Mysore has cut the Base Rate by 10 basis points and the Benchmark Prime Lending Rate by 25 bps  with immediate effect, the bank said in a press release on the Bombay Stock Exchange.

State Bank of Mysore cuts Base Rate, BPLR

Falling growth, inflation and lower fiscal deficit are expected to prompt RBI to cut rates

Market sees RBI cutting rates 50 bps by Sep

Asks Sebi to amend Securities Contracts Regulation Rules before participation of companies as 'proprietary trading members' in the debt segment

Amend SCRR before allowing insurers as members: Irda

Chidambaram expressed confidence the government would get the support of the Bharatiya Janata Party for the passage of the Insurance & Pension BillsIn a clear message to the Reserve Bank of India (RBI), scheduled to review its monetary policy on March 19, Finance Minister P Chidambaram has said if the central bank cuts rates further, it would help the economy grow at the targeted 6.5 per cent rate in the next financial year.RBI, in its January policy review, had cut the repo rate, or the rate at which it lends money to banks, by 25 basis points.He said, "I am sure the monetary policy advisory committee to the (RBI) governor (D Subbarao) will take note of all that we have done, all we have promised to do and advise him appropriately and I am sure the governor will take the decision in his best judgement."Recently, the government has taken several steps such as allowing foreign direct investment in multi-brand retail and civil aviation and partially deregulating diesel prices to boos

Chidambaram hopes Reserve Bank may ease policy rates

Haldia Petrochemicals Ltd (HPL), eastern India's biggest petrochemicals company, has received a fresh loan of Rs 116 crore from State Bank of India (SBI) and Punjab National Bank (PNB).

Haldia Petro gets Rs 116-cr lifeline from SBI, PNB

BS Reporter

With the Reserve Bank of India (RBI) coming out with guidelines for new banking licences, quite a few corporate and business houses are expected to join the fray. While dozens would be vying for a licence, only half a dozen are expected to win them.A few aspirants from Bangalore will be trying to fend off competition from corporate heavyweights such as the Aditya Birla Group, L&T, and Mahindra & Mahindra that have indicated their interest in starting a bank. Among the others are Chennai-based Shriram Group, SKS Microfinance and the Murugappa Group.The Manipal group is one of those from Bangalore expected to make a bid for a licence. The group has had the experience of running a bank till 1969 when they were nationalised. But, it is still deliberating on it.  "We are internally discussing the possibility of applying for banking licences. We are meeting people. Mohandas Pai (former finance and HR head at Infosys) and me are looking to form a consortium along with a few more peopl

Manipal, Janalakshmi show interest in banking licences

Top company official inform the decision will soon be taken at a company board meeting next month

Muthoot Finance may decide on seeking bank licence soon

State-owned Corporation Bank has launched a special car loan scheme at attractive rate of 10.40% for limited period

Corporation Bank launches special car loan scheme

Experts are of the view that the target of getting the bank up and running in 8-10 months is a big task

Women-run PSU bank may face HR challenges

UBS AG  cut roughly a third of its Americas investment banking and capital markets group this week, including 35 senior managing directors, three sources close to the matter said.A UBS spokeswoman confirmed the layoffs of the managing directors, which occurred in the corporate client solutions group, composed of investment banking, equity capital markets and leverage finance teams.As part of the cuts in the U.S. and Canada, more than a dozen people in the San Francisco technology group were laid off, and the Swiss bank shut its Los Angeles office, one of the sources said.  A handful of senior level bankers that remained in the Los Angeles office were transferred to San Francisco, the spokeswoman said.  UBS announced in October 2012 it was planning to cut 10,000 employees or 15 percent of the bank's workforce. It also said it would wind down its fixed income division. Those layoffs were on top of another 3,500 cuts the bank announced in the prior year, mostly in its investment banking d

UBS lays off 35 bankers in the Americas

Reuters

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