document.writeln("
Rupee
spurts on renminmbi revaluation
Mumbai: The rupee appreciated sharply against the
dollar on news of China revaluing its currency closing
at 43.2025, up from Wednesday's close of 43.52.
Forwards market: The 12-month premia closed at
1.26 per cent (1.35 per cent) and the 6-month closed at
1.51 (1.50 per cent).
G-Secs: The 7.27 per cent 8-year 2013 paper
closed at Rs101.33/35 (7.05 per cent YTM), up from Wednesday's
level of Rs101.12/15 (7.08 per cent YTM). The 7.38
per cent 10-year 2015 benchmark paper closed at Rs101.65
(7.15 per cent YTM) against the earlier level of Rs 101.4850
(7.17 per cent YTM).
Call rates: The inter bank rates ended at 5-5.10
per cent (5-5.05 per cent).
Reverse repo auction: Under the Liquidity Adjustment
Facility, RBI received and accepted 28 bids amounting
to Rs 12,170 crore.
CBLO market: 240 trades, put through in the 5.05-5.10
per cent range and amounting to Rs9.721.60 crore, were
realised.
Back
to News Review index page
Corporation
Bank Q1 net up 17 per cent
Mangalore: The Corporation Bank has recorded a net
profit of Rs123.52 crore in the first quarter of the current
financial year as against Rs105.51 crore in the corresponding
period of the previous year. The bank's net profit has
registered a growth of 17.07 per cent.
According to a press release here on Thursday, the bank
recorded a gross profit of Rs277.02 crore (Rs227.86 crore)
during the period, registering a growth of 21.58 per cent.
The total income for the three-month period increased
by 17.4 per cent. It stood at Rs766.35 crore (Rs652.79
crore). The net interest income rose to Rs596.77 crore
(Rs552.66 crore).
Other income stood at Rs169.58 crore (Rs100.13 crore).
During the first quarter, the net interest margin of the
bank was lower at 3.47 per cent compared with 3.99 per
cent in the previous financial year. This was on account
of the lower yield on investments at 8.02 per cent during
the period.
During the first quarter, the gross NPA was brought down
to 3.61 per cent (5.01 per cent) and the net-NPA to 1.15
per cent (1.80 per cent). The provision made towards NPAs
during the quarter was Rs55 crore compared with Rs29.5
crore in June 2004.
As on June 30, its capital adequacy ratio stood at 17.16
per cent.
Back
to News Review index page
Yes
Bank and Bajaj Allianz in bancassurance tie up
Pune: Yes Bank and Bajaj Allianz General Insurance
have entered into a bancassurance partnership, through
which Yes Bank would market the general insurance products
offered by Bajaj Allianz.
Bajaj Allianz officials said that this partnership would
allow the company to tap the customer base of Yes Bank,
while for Yes Bank it would be an additional revenue stream
from its non-banking business.
For Bajaj Allianz, Yes Bank is yet another bancassurance
partner, which it has added during the first half of the
current calendar year along with UTI, IDBI, United Bank
of India.
With this partnership, the total number of bancassurance
partners with Bajaj Allianz is now 14.
Back
to News Review index page
HSBC
launches credit facility for SMEs
Mumbai: The Hongkong and Shanghai Banking Corporation
(HSBC) has launched an unsecured credit facility for small
and medium enterprises (SMEs).
Under the new `Business Credit' loan facility, SMEs can
get credit up to Rs15 lakh without any collateral and
up to Rs35 lakh with a minimal security margin. Average
interest rates on these loans would be 16-19 per cent,
bank officials said.
Ms Margaret Leung, global head, commercial banking, HSBC,
who was in India to launch the product, said that the
bank considers that the SME sector will play an important
role in the growth of the Indian economy and the new product
will help them meet their working capital requirements.
Back
to News Review index page
