G-Secs volatile - rupee range bound
Mumbai: The rupee was range-bound against the dollar settling at 43.75/7525, as against the previous close of 43.75/76.

Forwards market: The 12-month premium closed at 1.48 per cent (1.45 per cent) while the 6-month premium ended unchanged at 1.75 per cent.

G-Secs: The bond market saw trade volumes soaring to Rs5,500 crore on Thursday, ahead of the Reserve Bank of India's monetary policy next week.

The 8.07 per cent - 12 year-2017 paper, which is the most actively traded paper rose to Rs105.50 and finally closed lower at Rs105.10 (7.40 per cent YTM), which was the same level as yesterday's closing. The 7.50- 29 year-2034 paper opened at Rs96.50 and finally closed at Rs96 (7.76 per cent YTM). The 7.38-10 year-2015 benchmark paper saw few trades and remained steady at Rs102.25 (7.08 per cent YTM). On Wednesday, it had closed at Rs102.15 (7.05 per cent YTM).

Call rates: Steady at 4.60 to 4.75 per cent.

CBLO market: 148 trades aggregating Rs4,930.85 crore in the rate range of 4.5-4.8 per cent were realised.
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Andhra Bank advances swell thirty per cent to Rs17,000 crore
Chennai: Andhra Bank's credit has grown by about 30 per cent to around Rs17,000 crore, the bank has said.

According to officials two lines of retail portfolio have grown significantly. Education loan disbursements amounted to about Rs250 crore, taking the total portfolio to Rs780 crore, and micro-credit has increased Rs150 crore, taking the book to Rs580 crore.

In the meanwhile Andhra Bank will also be selling the products of the Sundaram Mutual Fund, making it the fifth mutual fund whose products it has agreed to sell, after Principal, UTI, SBI and Tata.

Andhra Bank has 1,643 branches across the country. Sundaram Mutual Fund manages about Rs2,262 crore of assets and is a part of the Sundaram Finance group of companies.
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Allahabad Bank to extend loans for Mahindra tractors
Kolkata: The Allahabad Bank has signed a memorandum of understanding with Mahindra Gujarat Tractor Ltd for financing its Hindustan brand tractor through a special finance scheme.

The minimum land holding criteria for getting a tractor loan has been reduced to three acres for a 35HP tractor and four acres for higher capacity varieties. The margin money requirement has been reduced to five per cent for the 35 HP type and 10 per cent for higher capacity types to be purchased under the scheme, according to a bank press release.

A concessional interest rate of 9 per cent will be granted for loans up to Rs2 lakh and 10 per cent for loans of Rs2-5 lakh. The repayment period will be nine years.
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Banks Quarterly results: Corporation Bank
Corporation Bank declares final dividend of 35 per cent
Mumbai: The Corporation Bank's fourth quarter net profit has come down by nearly ten per cent over the year-ago period mainly on account of higher provisioning for bad loans and lower income from investments in bonds.
Net profit for the full year ended March 31, 2005 was consequently down 20 per cent. The Mangalore-based bank has reported a net profit of Rs107.57 crore for the quarter ended March 31, 2005, against Rs119.49 crore in the corresponding period last year.

The bank's board has recommended a final dividend of 35 per cent (Rs3.50 per share), taking the total for the year to 65 per cent, including a special allotment of five per cent to mark its centenary year.

The bank has made a total provisioning of Rs93.65 crore, of which Rs37.96 crore is for NPAs. Officials said that the Government-controlled bank, in which Life Insurance Corporation of India holds 26 per cent stake, is looking for an opportunity to make a strategic investment to expand locally.

The bank's interest income for the quarter increased to Rs576.65 crore from Rs553.18 crore. Operating profits before provisions and contingencies were higher at Rs259.88 crore from Rs180.73 crore in the previous quarter.

For the full year, the bank's net profit fell by Rs101.97 crore to Rs402.16 crore from Rs504.13 crore in the previous year. Despite a difficult operating environment, the net interest margin improved from 3.76 per cent to 3.94 per cent.

The bank has recovered Rs148 crore during the year and upgraded loans worth Rs58 crore to standard assets.

Retail lending, which accounts for 31 per cent of the total advances, has registered a 45 per cent growth in the current year. Corp Bank Securities, a subsidiary of the Bank, recorded a loss of Rs45.08 crore this year, as against profit of Rs46.98 crore last year.
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