Indian Overseas Bank (IOB) has posted 21.21 per cent rise in net profit at Rs 222.03 crore for the first quarter ended June 30, 2006 against Rs 183.19 crore in 2005-06 owing to healthy growth in

IOB net profit up 21.21% to Rs 222 cr

Business Standard

The 83rd annual general meeting of Tamilnad Mercantile Bank (TMB) today turned out to be a non-event as the contentious resolution pertaining to election of three directors was kept in abeyance as per

TMB adjourns directors` election

Freed insurance tariffs to price in global disasters.


Now pay for US typhoons

Banking services were affected today as employees of most of the public sector banks boycotted work to protest against outsourcing, demanding fresh recruitment of staff and one more pension option

Bank Strike: Services affected

Press Trust of India

Bank of Baroda (BOB) has posted a 4% rise in net profit for the quarter ended June 30, 2006 at Rs 163.32 crore when compared with Rs 156.94 crore for the quarter ended June 30, 2005.R>R>According

BOB Q1: Net profit up 4%

Indusind Bank today reported a 80% decline in net profit at Rs 8.01 crore for the first quarter ended June 30, 2006 when compared with Rs 40.36 crore in Q1FY06.<BR><BR>According to a release issued by

Indusind Bank Q1 net down 80%

Corporation Bank of India today reported 16.8% rise in net profit at Rs 144.24 crore for the first quarter ended June 30, 2006 when compared with Rs 123.52 crore in the corresponding quarter a year

Corporation Bank Q1 net up 17%

IndusInd Bank reported 80.15 per cent fall in net profit in the first quarter of 2006-07 on sharp declines in income from securitisation, bad debt recoveries and profit from sale of investments.


IndusInd net falls 80% at to Rs 8 cr

Allahabad Bank has reported 21.31 per cent fall in net profit for the first quarter of 2006-07 at Rs128 crore, as against Rs 162.98 crore in Q1 of the previous fiscal. 


AllBank net dips 21% to Rs 128 crore

Punjab National Bank today reported a maringal rise in Q1 net profit for the quarter ended June 2006 at Rs 367.52 crore when compared with Rs 358.16 crore in the corresponding quarter a year ago

Punjab National Bank Q1 net rises marginally

Lending rates have started rising after more than two years. Five banks have increased their benchmark lending rate &mdash; or the base rate &mdash; even as the country&rsquo;s largest lender, State Bank of India (SBI), decided to maintain status quo. All corporate and retail loan rates linked to the base rate will now go up.

Banks make loans more expensive

India&rsquo;s current account deficit rose sharply in the quarter ended June 30 to $13.7 billion, from $4.5 billion a year ago, due to lower invisible surplus and growth in imports outpacing exports.

Current account deficit grows to $13.7 billion

Even as the current account deficit widened during the first quarter and the Real Effective Exchange Rate (REER) indicated the rupee is overvalued and should weaken, strategists and exporters predict the rupee may continue to gain on inflows.

Re may gain even as current account deficit widens

Bank of India (BoI) has targeted a business volume of Rs 4500 crore in 2010-11 from its operations in the Bhubaneswar zone.

Bank of India targets Rs 4500 crore business

Likely to discuss liquidity issues, transmission of policy.

Subbarao to meet bankers for pre-policy meet on Oct 4

The Supreme Court on Thursday set aside a Gujarat High Court order that prohibited banks from transferring debts, including non-performing assets (NPAs), to among each other.

SC sets aside order banning transfer of debt between banks

Firstsource Solutions, a Mumbai-based business process outsourcing (BPO) provider, on Thursday announced a five-year outsourcing partnership with Barclaycard, the UK-based credit card and consumer lending business of Barclays PLC.

Firstsource, Barclaycard sign five-year outsourcing agreement

Muthoot Finance Ltd plans to raise at least Rs 800 crore ($178 million) from an initial public offering (IPO) in India, according to two people with direct knowledge of the matter.

Muthoot Fin plans Rs 800 cr IPO

The promoters of Bharti AXA insurance &mdash; Bharti Enterprises and AXA Asia Pacific Holdings &mdash; are looking to divest stakes in both life and non-life insurance companies to rope in a bancassurance entity as a third partner.

Bharti AXA promoters to dilute stake, hope to bring in a bank

Shriram Properties, the real estate arm of Shriram Group, plans to raise $100 million (Rs 452 crore) this year from private equity (PE) investors as it seeks to deepen its penetration in Southern India, senior company officials told Business Standard. The company, which was planning an initial public offering (IPO) in 2010, has deferred its plans for a share sale for at least the next 12 months, said Chairman Arun Duggal.

Shriram Properties seeks $100 mn from PEs

Mastercard on Thursday said it has acquired 12.5 per cent stake in Pune-based third-party paymet services provider ElectraCard Services (ECS). However, financial terms of the transaction were not disclosed.

Mastercard buys 12.5% stake in ElectraCard

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