Swiss banking major UBS today posted a net profit of 2 billion Swiss francs for the quarter ended June on the back of an improved performance by its investment banking and wealth management segments.

UBS posts Q2 net profit of 2 bn Swiss francs

Press Trust of India

Global financial major Deutsche Bank has reported a nine per cent growth in net profit at 1.2 billion euros ($1.55 billion) for the April-June period due to lower provisions for bad loans.

Deutsche Bank Q2 net up 9% at 1.2 bn euros

The Reserve Bank of India (RBI) today said it will come up with a discussion paper on granting banking licence to private sector players and NBFCs by the first week of August.

Paper on new bank licences by Aug: Subbarao

Leading bankers today ruled out any rise in the interest rate regime in the second quarter despite the increased pressure on the rates following the Reserve Bank of India's (RBI) policy action.

Bankers see no interest rate hike till Oct

The Dewan Housing Finance Corporation (DHFL) today reported an around 64 per cent rise in profit after tax (PAT) at Rs 51.24 crore for Q1 FY11, on higher disbursements and revenue from selling third-party products.

DHFL Q1 PAT up 64% on higher disbursements

Private sector lender Kotak Mahindra Bank today said that its shareholders have approved the selling of 4.5 per cent stake to Japanese financial services major Sumitomo Mitsui Banking Corp for Rs 1,366 crore.

Kotak Bank shareholders approve stake sale to Sumitomo

Life insurance Corporation of India (LIC) opened its Customer Zone nicknamed as 'C-Zee' in the city on Saturday. The customer zone was inaugurated by Vinay Sah, zonal manager (east central zone) of LIC in the presence of senior divisional manager Rabinarayan Mishra, Prafulla Kumar Mishra, manager (customer relationship management) in the presence of other officials of the corporation. The customer zone will function from 8 am to 8 pm on weekdays and 10 am to 6 pm on Saturdays.

LIC opens Customer Zone in Bhubaneswar

Business Standard

With economic recovery firmly under way, the Reserve Bank of India (RBI) has trained its guns on containing inflation and providing a supportive climate for sustaining growth.

RBI projects year-end inflation at 6%

A day after Reserve Bank of India (RBI) tightened the monetary policy, leading private sector lender HDFC Bank decided to raise deposit rates by up to 0.75 per cent today.

HDFC Bank hikes FD rates by up to 0.75%; loans to be dearer

The Reserve Bank of India (RBI) today said that it expects the tight money supply condition, created by the huge outgo towards payment on spectrum by telcos, to ease by next week.

Liquidity pressure likely to ease next week: RBI

Credit growth of banks stood at 21.26 per cent during the one-year period ended July 16, up from 14.70 per cent a year ago, the Reserve Bank of India (RBI) said today.

Banks credit offtake up 21.26%

The entire undertaking of State Bank of Indore shall be transfered to and vested in State Bank of India from August 26, SBI informed the Bombay Stock Exchange (BSE).

State Bank of Indore merger with SBI to begin by Aug 26

The banking sector in Karnataka has disbursed Rs 31,020 crore under priority sector during 2009-10 as against the projection of Rs 34,940 crore, thereby attaining 88.7 per cent of the target.

Banks achieves 88.7% of priority sector target

Healthy growth in net interest income (NII) and fee income helped government-owned Corporation Bank report a 27.76 per cent increase in net profit to Rs 333.78 crore for the quarter ended June 30, as compared with Rs 261.25 crore in the same period of the previous year.

Corporation Bank profit rises 28%

Cholamandalam Investment and Finance Company plans to raise around Rs 250 crore through qualified institutional placement (QIP) and preferential issues. Meanwhile company&rsquo;s Chairman today M A Alagappan today stepped down at the company&rsquo;s 32nd annual general meeting (AGM) today. The succession plan is likely to be announced tomorrow.

Cholamandalam Investment plans for QIP

ICICI Bank has joined the United Stock Exchange (USE) shareholder base by acquiring a 1.33 per cent stake. The bank is a major participant in the forex market. A statement issued by USE pointed out that the move by India&rsquo;s largest private sector bank further strengthens the bank shareholder base of the exchange, which is all set to launch operations in the currency derivatives segment.

ICICI Bank buys 1.33% in USE

SBI raises issue at post-policy meet with RBI.

Bankers pitch for allowing sub-base rate lending

More easing expected next week as govt begins spending, says Subbarao.

Bond redemptions help banks turn net borrowers after two months

It had posted a net profit of Rs 257.41 crore for the first quarter of the previous fiscal, Oriental Bank of Commerce said in filing to the Bombay Stock Exchange.

Oriental Bank Q1 net up 41% to Rs 363 cr

Hyderabad-headquartered Andhra Bank has registered a net profit of Rs 320.41 crore for the first quarter of the 2010-11 fiscal, with total business touching Rs 1,31,844 crore, Chairman and Managing Director R S Reddy said today.

Andhra Bank Q1 net up 25% to Rs 320 cr

State-run Central Bank of India today posted a 26 per cent jump in its net profit at Rs 337 crore for the quarter ended June 30, 2010, as against Rs 267 crore in the same period last year, aided by a jump in its interest income.

Central Bank net up 26%; plans to raise Rs 2,500 cr

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