1. The Extraordinary General Meeting (EGM) of shareholders of Karnataka Bank on Wednesday passed a unanimous resolution giving consent to the issue of 63.73 lakh equity shares of Rs 10 each on preferential basis.
2. Canara Bank rebalanced its credit portfolio and shifted focus to priority sector areas during the second quarter of the current financial year.
It has contained the growth of retail advances. Retail advances grew only 5.91 per cent on year-on-year basis to Rs 17,187 crore. Priority sector advances grew 25.08 per cent during the same period to Rs 38,920 crore.The portfolio moderation notwithstanding, the yield on advances improved to 10.23 per cent from 8.95 per cent. The improved yield was partly achieved through repricing of advances.
It has contained the growth of retail advances. Retail advances grew only 5.91 per cent on year-on-year basis to Rs 17,187 crore. Priority sector advances grew 25.08 per cent during the same period to Rs 38,920 crore.The portfolio moderation notwithstanding, the yield on advances improved to 10.23 per cent from 8.95 per cent. The improved yield was partly achieved through repricing of advances.
3. Bank of Baroda is planning to raise about Rs 2,500-3,000 crore by January to meet capital requirements under Basel II norms and for further growth in business. The bank is yet to decide on whether the capital would be tier-I or tier- II.
4. Backed by a growth in other income, Centurion Bank of Punjab has posted a 33.76 per cent in net profit at Rs 41.64 crore for the quarter ended September 30, 2007, against Rs 31.13 crore in the corresponding quarter of the previous year.
5. ICICI Bank Eurasia LLC, a subsidiary of ICICI Bank, has opened a branch in St Petersburg. The branch will offer a range of banking and financial services.This is the 5th branch that ICICI Bank has opened in Russia.
6. Standard Chartered Bank plans to ramp up its activities in the microfinance space in the coming months. It will increase its exposure as well as the number of microfinance institutions (MFI) partners. Microfinance is also a commercially attractive proposition. The aim is to increase the exposure from current level of close to Rs 100 crore to about Rs 500 crore by December 2008.
7. The economy continues to do well with GDP registering a growth of 9.3 per cent in the first quarter of this fiscal. Thoughthis is lower than the 9.6 per cent recorded in the same period last year.
8. The most significant announcement by the RBI Governor, Dr Y. V. Reddy, is the hiking of CRR by 50 basis points. The Bank rate, the repo rate and the reverse repo rate have thankfully been kept unchanged.
9. Karur Vysya Bank has registered a net profit of Rs 43.41 crore for the quarter ended September 2007 against Rs 42.56 crore during the corresponding quarter of the pervious fiscal.
10. Karnataka Bank Ltd has recorded a net profit of Rs 60.14 crore in the second quarter of the current financial year as against Rs 59.61 crore in the corresponding period of the previous year, registering a growth of 0.89 per cent.
