Financial Daily from THE HINDU group of publications
Friday, Jan 25, 2002

News
Features
Stocks
Port Info
Archives

Group Sites

Money & Banking - Private Banks


Vysya Bank sees 300 pc rise in treasury revenues

Our Bureau

BANGALORE, Jan. 24

VYSYA Bank expects a 300 per cent rise in `revenues from treasury operations' over the corresponding previous period, according to Mr V. Ravi Kumar, Head-Treasury.

The treasury strategic business unit (SBU) has had a turnover of Rs 34,000 crore so far this year and has concluded over 3,400 deals.

"As an SBU, we are closer to the market and our people have their ears to the ground,'' Mr Ravikumar said. The recently reconstructed bank now has five SBUs, including treasury.

This market orientation has helped Vysya Bank get `lucrative contracts' such as the Haj committee contract to offer forex services to pilgrims this year and the $12-million Coal India currency swap, according to Mr K. Balasubramanian, Managing Director.

Apart from the bank's investment operations, the treasury SBU would provide services to varied clients through deposits, corporate paper, forex, derivatives, institutional bonds and gilts, according to the bank.

Bangalore to handle dealing operations

IN a bold move, Vysya Bank has moved its dealing operations from Mumbai to Bangalore.

"Bangalore will handle our treasury risk management operations while Mumbai, New Delhi, Kolkata, Hyderabad and Chennai will be marketing offices,'' said Mr Ravi Kumar said.

"Vysya Bank expects faster and better decision-making by integrating our domestic and forex treasury operations, we expect decision-making to be faster and better,'' he said.

This would be a hub-and-spoke arrangement — where the Bangalore trading room and risk managers would be the hub of the bank's treasury operations and the other cities would do the marketing, he said. It will start the Bangalore trading room with 12 dealers to go up to 24.

Also, with the National Dealing Screen expected to begin functioning from mid-February, a deal can be concluded in Bangalore "be it from Benaras or Bihar''. Besides, a trading room in Bangalore is way cheaper.

Send this article to Friends by E-Mail

Stories in this Section
Re ends weak; gilts lacklustre


`74 pc of bank operations computerised'
Bouncing cheques still an offence
LIC Housing net up 26.5 pc
Three new products from Max NY Life
MetLife eyes break even -- To raise capital base to Rs 450 cr
Karur Vysya signs pact with i-flex Solutions
Vysya Bank sees 300 pc rise in treasury revenues
Dhanalakshmi Bank plans rights
Oriental Bank net up 63 pc
SBI to recruit IT pros once arm gets okay
Punjab National net up 20 pc
Tata group injects Rs 100 cr into TFL
ICICI Q3 net at Rs 256 cr, declares 55 pc interim
Corpbank Sec posts profit
IDBI, ICICI sharpen claws for bond war


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line