SBI may have record profit this year
Mumbai: State Bank of India chairman G.G. Vaidya expects that the bank
will record its highest ever profit from operations in 1999-2000. He estimates that the
net profit will be around Rs 1,500 to Rs 1,600 crore. Mr Vaidya admitted that the
bank’s performance in certain areas, like foreign exchange, has not been
satisfactory, but it has covered up with better performance in other areas like
international operations.
Back to
News Review index page Exim Bank proposes dilution of govt stake
Calcutta: The Export Import Bank of India has proposed to the government
that it should divest over 50 per cent of the public sector bank's equity. This would give
the bank greater freedom in its operations.
The bank’s managing director Y.B. Desai says this
plan is still at the conceptual stage, but the disinvestment is not far off. He told a
seminar that the government has stopped funding the bank for the last three years, and the
bank now raises funds from the market. He said a number of export credit banks abroad are
privately owned.
Back to
News Review index page
Bank of Scotland hikes
offer
London: The Bank of Scotland has improved its offer for National
Westminster Bank in its fight for control of the British bank. The offer, which replaces
an earlier special dividend with a special stock unit offer, is worth 24.3 billion or
14.56 per share. The rival offer by Royal Bank of Scotland is around 22 billion. Both
the banks have time up to 31 January to increase their offers.
Back to
News Review index page
|
