Standard Chartered Plc, the UK bank that gains almost all its profit from emerging markets, said it made a &ldquo;strong start&rdquo; to the year with record earnings and revenue in the first quarter.

Standard Chartered has 'strong start,' record profit

Business Standard

Banks yet to come out of the high rate regime.

Working capital loans still pinch cos

The rising flow of overseas portfolio investment in the stock markets and offloading of the greenback by exporters made the Indian rupee stronger against the US dollar for the second consecutive day this week.

Rising markets push Re up by 61 paise

Allahabad Bank has posted a 55.80 per cent increase in net profit to Rs 264.09 crore for the fourth quarter of the last fiscal, against Rs 169.51 crore during the corresponding quarter last year. The operating profit for the quarter was Rs 614.15 crore, up 66 per cent, against Rs 369.97crore a year ago.

Allahabad Bank profit up 56 per cent

With abundant cash in the system, the Reserve Bank of India (RBI) has decided to dispense with two daily liquidity adjustment facility (LAF) operations. Instead, starting tomorrow, there will be only one LAF operation in the morning, the central bank said in a statement. The second LAF will be conducted only on reporting Fridays between 4.00 pm and 4.30 pm.

Central bank to conduct only one LAF operation

Helped by improved interest margins and healthy growth in fee-based income, the Hinduja Group-promoted IndusInd Bank On Tuesday said its net profit rose nearly three-and-a-half times to Rs 50.52 crore during the quarter ended March, 2009, compared with Rs 14.45 crore during the fourth quarter of 2007-08.
During January-March, net interest income &mdash; or the difference between revenue from advances and the cost of funds &mdash; increased by 66 per cent to Rs 144.28, against Rs 86.97 crore

IndusInd Q4 net rises 3.5 times

Intel Capital, the venture capital (VC) arm of technology giant Intel, feels that an initial public offering (IPO) is the best way for an exit in India, rather than the merger and acquisition (M&amp;A) route.

Intel Capital to exit Indian firms through IPOs

The London interbank offered rate (Libor) that banks charge for three-month dollar loans fell below 1 per cent for the first time as credit markets showed signs of thawing.

Libor hits lifetime low

Saraswat Co-operative Bank is eyeing Vadodara-based Anyonya Co-operative Bank Ltd (ACBL) for an acquisition, a top bank official said.

Saraswat Bank hopes to acquire Anyonya Co-op Bank

Press Trust of India

The Indian rupee depreciated by 25 paise against the US $ in early trade today on expectations of capital outflow of funds from the domestic bourses amid weak Asian markets.

Rupee weakens by 25 paise against $

Reserve Bank of India today mopped up Rs 1,44,913 crore from banks through reverse repo window, reflecting ample liquidity in the system.

Banks place over Rs 1,44,000 cr with RBI under LAF

Top private lender ICICI Bank plans to open nearly 600 branches this year, but will not hire as part of the current workforce would be redeployed to manage the expanded network of 2,000 branches.

ICICI to open 580 new branches; no fresh hiring

Global banking major, Barclays today announced the launch of 'Easy Cash Management Solution' in India, a service that would enable clients access to a slew of customised products.The bank would offer three products &mdash; direct debit, invoice matching and reconciliation and post dated cheque management &mdash; under the solution and the services will be linked through internet banking, a press release said.

Barclays launches 'Easy Cash Management Solution'

The US regulators have asked financial services major Bank of America (BofA) to initiate steps to plug nearly $35 billion shortfall in capital, says a media report.

BofA may need to raise $35 bn in capital: report

At a recent summit in India, MasterCard Worldwide found that a key issue plaguing the credit card industry was inactive cards. It summed up that one of the ways to get cardholders to use the card was to charge an annual fee.

Credit card cos look at premium clients for better portfolio

Corporation Bank today signed a memorandum of understanding (MoU) with Karnataka State Organic Farming Mission (KSOFM) for the promotion of organic farming in the state. According to the agreement, Corporation Bank will be nominated as the preferred bank by KSOFM for financing farmers and their entities in taking up organic farming activities.

CorpBank to promote organic farming

For December, there were 10 trading paydays bigger than $100 million, the New York-based firm said on Wednesday in a filing with the US Securities and Exchange Commission.

Goldman Sachs&#39;s $100 million trading days hit record in quarter

India&rsquo;s largest lender State Bank of India (SBI) has entered into an agreement with telecom firm Tata Communications Ltd and C-Edge for the roll-out and management of 500 ATMs.

SBI inks ATM outsourcing deal with Tata Communications, C-Edge

ICICI Bank, the country&rsquo;s largest private sector bank, has scaled down its overseas operations, especially in the United States and Sri Lanka. It has also recalled some employees from its international offices now that the businesses of fund-raising and merger and acquisitions have shrunk.

ICICI Bank scales down operations in US, Sri Lanka

But bankers term decrease as aberration at end of every fiscal.

Bank credit dips Rs 25k cr in second fortnight of FY10

Regulators have determined that Bank of America Corp requires about $34 billion in new capital, the largest need among the 19 biggest US banks subjected to stress tests, said a person with knowledge of the matter. Bank of America fell 9 per cent in trading before US exchanges opened.

BofA may need about $34 billion of capital

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