Citigroup Inc says board member Richard Parsons, the former CEO of Time Warner will soon be taking over as chairman.

Parsons to become chairman at Citigroup

Business Standard

Bank of India today said it posted a net profit of Rs 872.17 crore for the third quarter ended December 31, 2008, as compared Rs 511.89 crore for the same quarter last fiscal.

Bank of India Q3 net at Rs 872 cr

Press Trust of India

Max New York Life Insurance has announced a strategic partnership with 3i Infotech to market its Max Vijay Insurance Savings box and expand its reach to consumers in remote rural areas, via the 12,500 I-SERV stores across nine states of Haryana, Uttar Pradesh, Madhya Pradesh, Gujarat, Maharashtra, Goa, Andhra Pradesh, Tamil Nadu and Delhi.

Max New York Life, 3i Infotech form strategic partnership

Private sector lender Kotak Mahindra Bank today reported a 64 per cent decline in its profit after tax (PAT) at Rs 130.90 crore for the third quarter ended December 2008, as compared to Rs 363.73 crore in the same period last year.

Kotak Mahindra Bank Q3 net down 64%

The government is likely to infuse Rs 700 crore in UCO Bank even as the bank plans to raise another Rs 700 crore through bonds from market by March this year.

Govt likely to infuse Rs 700 cr in UCO Bank

Lack of financial literacy hinders use of no-frills a/cs

State-run Bank of India (BOI) today said it has a non-fund based exposure of Rs 215 crore to the Raju-family owned Maytas Infra, but has not provisioned it &ldquo;as it was not needed&rdquo;. &ldquo;We have given a bank guarantee to Maytas Infra to the tune of Rs 215 crore.

BoI has Rs 215-crore exposure to Maytas Infra

Public sector lender Bank of India (BoI) today posted a jump of 70.41 per cent in its net profit for the third quarter ended December 31, 2008, to Rs 872.17 crore on the back of high treasury income and net interest income. The bank had posted a profit of Rs 511.89 crore in the corresponding period last year.

BoI posts 70% jump in net profit

Kotak Mahindra Bank today reported a 64 per cent decline in its net profit to Rs 130.9 crore for the quarter ended December 2008 compared to the year-ago period. Total income fell by 32.14 per cent to Rs 1,684.75 crore during the quarter under review, from Rs 2,482.72 crore in the same period.

Kotak Bank Q3 net dips 64%

The company had registered a net loss of Rs 11.08 crore in the year-ago period, Future Capital Holdings said in a filing to the Bombay Stock Exchange.

Future Capital Q3 profit up at Rs 6.25 crore

With real estate prices moving southwards, several banks and financial institutions are buying their own properties and shifting from rented and leased premises.

Banks, FIs step up property buys

Indian Banks&rsquo; Association (IBA) has proposed a 10 per cent wage hike to bank employees, a source from the banks&rsquo; body said today.

IBA proposes 10% wage hike to bank staff, but no decision yet

Axis Bank, one of the leading private banks in the country, will focus on improving the credit-deposit (CD) ratio in Orissa.

Axis Bank to focus on improving credit-deposit ratio

Representatives of four multinational banks met the newly-installed six-member board at Satyam Computer Services today to discuss the feasibility of extending loans to keep the troubled company&rsquo;s business afloat, according to sources privy to the development.

Four bankers meet board at Satyam

South Indian Bank eyes Rs 75000 cr biz

The Indian rupee moved in line with the local stocks, which recovered after opening slightly down, at appreciated to 49.12/13 against the greenback today amid hopes of emergence of month-end dollar demand.

Re recovers from early dip, appreciates to 49.12/$

Public sector lender Union Bank of India today said its net profit for the third quarter of the current fiscal grew 84.03 per cent at Rs 671.74 crore as compared to Rs 365.02 crore in the corresponding period a year ago.

Union Bank Q3 net up 84% at Rs 672 cr

State-run Canara Bank plans to open ten overseas branches and offices, its Chairman and Managing Director A C Mahajan said today.

Canara Bank to open 10 branches overseas

State-run IDBI Bank today reported a 26.61 per cent growth in net profit at Rs 222.63 crore for the third quarter ended December 31, 2008, as compared to Rs 175.84 crore in the same quarter a year ago.

IDBI Bank Q3 net up 27% at Rs 223 cr

Syndicate Bank today said its net profit for the third quarter ended December 31, rose 29 per cent at Rs 352.38 crore as against Rs 273.19 crore in the corresponding period last year.

Syndicate Bank Q3 net up 29% at Rs 352 cr

Mangalore-based private sector lender, Karnataka Bank, today reported 29.2 per cent jump in its net profit at Rs 89.2 crore for the third quarter ended December 31, 2008, as compared to the corresponding quarter last financial year.

Karnataka Bank Q3 net up 29%

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