1. OBC has announced a profit after tax (PAT) of Rs 310.75 crs for the quarter ended September 30, up 37.2% over the corresponding figure of Rs 226.51 crs for the previous fiscal. After writing-off Rs 61.24 crs against liabilities on account of the amalgamation with GTB, OBC's net profit for July-September 2006 stood at Rs 249.51 crs, 51% more than the Rs 165.27 crs for July-September 2005.
2. Strong growth in interest income has lifted the net profit of IOB by 25% for the second quarter ended September 30 to Rs 249.85 crs (Rs 198.49 crs). The net interest income was Rs 611.91 crs (Rs 517.3 crs) while the net interest margin stood at 4.01% (4.1%). Total deposits increased by 20.31% to Rs 57,018 crs while gross credit grew by 40.28% to Rs 41,141 crs.
3. Indian Bank has posted a 60% rise in net profit at Rs 169.19 crs (Rs 105.57 crs) for the quarter ended September 30. Total income increased to Rs 1,198.45 crs (Rs 941.47 crs). Net interest income was up by around 26% to Rs 453.72 crs (Rs 359.81 crs). Overall, the business of the bank grew 21.06%. Total deposits rose 16.4 % to Rs 44,124 crs (Rs 37,907 crs) and advances grew by 29.81% to Rs 26,193 crs (Rs 20,177 crs). The bank has shown consistent performance in priority sector lending. Total priority sector advances have grown by 30.87% during the half year.
4. YES Bank has reported a 50.8 % growth in net profit for the second quarter ending September at Rs 21.49 crs (Rs 14.25 crs). Total income increased by 182% to Rs 166.01 crs (Rs 58.82 crs) while total expenditure went up 261% to Rs 131.08 crs (Rs 36.34 crs). Other income increased to Rs 38.13 crs (Rs 21.88 crs). In terms of revenue, treasury brought in Rs 92.57 crs (Rs 20.50 crs). The NP was mainly due to the rise in net interest income and NII, which constitutes treasury, financial advisory, fee-income, among others.
5. PNB's profit after tax has risen 19.7% to Rs 505 crs for the three months ended September 30, as against Rs 422 crs for the corresponding quarter of 2005-06. Operating profit has also shot up by 30%, from Rs 684 crs to Rs 889 crs. For the half year ended September 30, 2006, the bank's PAT went up by only 11.8 % (from Rs 780 crs to Rs 873 crs), with operating profit, too, going up moderately by 3.9% ( 1,328 crs to Rs 1,379 crs).
6. Ahead of the credit policy tomorrow, the RBI has warned of inflationary pressures while demand for bank credit continued to hold strong in the second quarter of 2006-07. In its Macroeconomic and Monetary Developments Review released today, non-food credit grew 30.5% as on October 13 against 31.8% last year. Food credit declined Rs 7,246 crs reflecting, "lower order of procurement of foodgrains (less than around 15 %)." Funds to the industrial sector grew 27 %, while that to the agricultural sector went up by 37% as of end-June 2006. Retail lending rose by 47% with growth in housing loans placed at 54%. Loans to commercial real estate rose by 102%, said the RBI report.
