Dewan Housing bid below advisor&rsquo;s valuation; high exposure posing problems.

IDBI Home Finance sale faces hurdles

Business Standard

HDFC, the country&rsquo;s largest housing finance company, today reported a 15.73 per cent decline in its third quarter net profit to Rs 546.83 crore as against Rs 648.93 crore registered in the corresponding period last year.

HDFC net dips 15.7% to Rs 546 cr

UCO Bank has reported a 107.33 per cent increase in net profit to Rs 171.63 crore for the quarter ended December 31, 2008, as against Rs 82.78 crore for the same period last year.

UCO net profit rises 107 per cent

Falling bond yields have boosted bank profits in the December 2008 quarter.

Falling bond yields boost bank profits

Primary issuance declined today because mutual funds refrained from investing in short-term money market instruments on limited inflows in their schemes, dealers said.

3-month CDs at 6-6.25%

Defying the current turmoil in the banking sector in the West, public sector lender Punjab National Bank plans to expand its operation in the UK, beside eyeing a $5-million profit from the country&rsquo;s operations. &ldquo;This year we will be making a profit of $4-$5 million from our UK operations,&rdquo; PNB Chairman and Managing Director K C Chakrabarty said here last night.

PNB expands in UK

The Indian rupee appreciated 21 paise against the US currency today in early trade on dollar selling by banks and exporters amid hopes of firm opening on the domestic stock markets in line with better trends on other Asian bourses.

Rupee up 21 paise to 48.90 a dollar

Press Trust of India

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

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

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

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