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

Mumbai-based public sector lender Dena Bank is planning to expand its medical equipment finance business aggressively as lending to the healthcare sector is relatively less risky, a top official said on Tuesday. The bank targets to boost the size of its medical equipment loan portfolio from Rs 11 crore now to Rs 500 crore by the end of the year."We are focusing on financing to doctors. Health is an area of growth. There are costly equipment which doctors use," said Ashwani Kumar, chairman and managing director of Dena Bank.  "Chances of default in this sector are very low and it can be built in a profitable way."At a time when corporate funding pipelines are very negligible, banks are excessively focusing on retail credit. Banks are going after home loans and auto loans with attractive rates of interest. Most public sector banks are giving home loans on their base rate, or the minimum lending rate, and have brought down the spread on auto loans.According to Kumar, doctors occupy a resp

Dena Bank eyes healthcare business to boost retail book

Business Standard

The group had set aside Rs 1,000 crore for the banking foray

Videocon to throw its hat in banking licence ring

Bangalore-based public sector lender Vijaya bank has opened its 10th Micro, Small and Medium Enterprises (MSME) Cell at Coimbatore.

Vijaya Bank opens 10th MSME Cell at Coimbatore

Three state-run lenders have raised their retail term deposit rates by 25-125 basis points. United Bank of India increased interest rates on domestic term deposits below Rs 5 crore by at least 25 basis points, effective immediately. The Kolkata-based lender will now pay nine per cent on term deposits with one-year maturity, compared with 8.75 per cent earlier. Term deposits of 30 days to less than a year will get interest at 8.75 per cent.Punjab National Bank has increased interest rates on certain deposits by 125 basis points.UCO Bank raised interest rates on retail term deposits between Rs 1 and Rs 5 crore by 45-50 basis points, effective tomorrow. According to bankers, the tight liquidity situation has compelled lenders to increase deposit rates.Premium for senior citizens cutMost state-run lenders, including UBI, PNB and SBI have reduced the premium paid to senior citizens on retail term deposits, by at least 25 bps.UCO Bank is among the few banks that are still offering a premium

Govt banks raise retail term deposit rates

BS Reporter

FinMin has estimated Rs 44,000-cr dividend from RBI, nationalised banks and financial institutions in FY14

High dividend pressure on Reserve Bank of India

A day after Manmohan Singh won the trust vote, sans Left support, rating agencies Moody's Investor Services and Icra today said the insurance sector will get a huge boost if the government paves the way for greater foreign participation in Indian companies.

Insurers see higher FDI limit

United Bank of India today said it has increased interest rates on domestic term deposits below Rs 5 crore by at least 25 basis points. The rate hike is effective from March 1, 2013.

United Bank of India hikes domestic term deposit rates by 25 bps

Mangalore-based public sector lender Corporation Bank on Friday launched three new schemes  Bumper Car Carnival, Current Account Premium Variants  Corp Club and Corp Privilege and Corp Global Current Account for exporters and importers.

Corporation Bank launches three new schemes for limited period

The plan of microfinance institutions (MFIs) in Andhra Pradesh to restructure debts is yet to find favour with banks, as lenders are not convinced with the proposal of converting a part of their advances into equity.

MFI loan recast: Banks not keen to turn debt into equity

Five years after its investment, private equity major Carlyle Group may exit a quarter of investment in mortgage lender HDFC Ltd.

Carlyle may partially exit HDFC with 100% gains

Liquidity continues to remain beyond the comfort level of the Reserve Bank of India (RBI), even as the Cash Reserve Ratio for banks has been reduced to 5.5 per cent from this week.

Liquidity pressure persists despite CRR cut more OMOs on Friday

At a time when a majority of banks are opting for a higher provisioning that is depleting their bottom line, ICICI Bank has gone off the beaten track.

ICICI Bank logs robust Dec quarter on lower provisioning

IDBI Bank&rsquo;s net profit dipped to Rs 410 crore in third quarter from Rs 454 crore in October-December 2010. Its chief financial officer P Sitaram said an increase in costs of funds and reversal of interest on restructured loans and non-performing assets shrunk net interest income. Its net interest margin declined to about 1.89 per cent.

Central Bank and IDBI profits drop

The bank had posted a net profit of Rs 1,089.77 crore for the October-December quarter of the previous financial year.

PNB net up 5.5%

Press Trust of India

With volumes thinning as compared to other currency markets, the rupee-dollar market sways to the whims of the overseas investors as they pull out or flood the domestic markets with capital flows.

Rupee fortune swings on FII mood, volatility in capital flows

National Bank for Agriculture and Rural Development (Nabard) has sanctioned a grant assistance of Rs 20 lakh to Ahmedabad District Cooperative Bank (ADC Bank) for a project involving formation and financing to 1000 joint liability groups (JLGs).

Nabard sanctions Rs 20 lakh to ADC bank

The non-performing assets of Indian banks are expected to touch 4% of the total assets from about 3% in 2011, Fitch said in a report.

Banks' asset quality to worsen this year: Fitch

The Reserve Bank of India (RBI) sees a need to cap the total public debt as a proportion of the gross domestic product, considering that excessive government borrowing could hamper the nation&rsquo;s long-term growth, its governor Duvvuri Subbarao said on Wednesday.

Subbarao says there is need to cap public debt

Central Bank of India may restructure loans worth over Rs 7,000 crore of the state government owned power distribution companies in the fourth quarter.

Central Bank to recast Rs 7,000-cr discom loans

ICICI Bank, the country&rsquo;s largest private sector lender, is likely to restructure Rs 1,300 crore of loans in the current January-March quarter. Key accounts expected to be part of the exercise include those of GTL and 3i Infotech.

ICICI to recast Rs 1,300-cr loans this quarter to cover GTL, 3i Infotech debt

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