The Hindu Business Line : Friday, July 29, 2005

SBI Q1 net up 15.5 pc at Rs 1,223 cr
HIGHER interest income and lower operating costs have enabled State Bank of India to report a 15.54 per cent increase in net profit in the first quarter of 2005-06, despite a substantial increase in provisions against bad loans and losses in ... More

J&K Bank net up at Rs 48.44 crore
JAMMU and Kashmir Bank (J&K Bank) has reported a net profit of Rs 48.44 crore for the quarter ended June 30, 2005, a 2.43 per cent increase over Rs 47.27 crore recorded in the corresponding period last year. The deposit base has expanded 9.23 ... More

PNB Q1 net rises to Rs 358 crore
PUNJAB National Bank has registered a net profit of Rs 358.16 crore during first quarter of this fiscal, an 11 per cent growth over the net profit of Rs 322.67 crore in the same period last year. The operating profit dipped by 10 per cent to ... More

ING Vysya Bank posts Rs 9-crore net in Q1
ING Vysya Bank posted a net profit of Rs 9 crore during the first quarter of the current fiscal as against the Rs 20-crore loss it recorded for the corresponding period last year. It recorded a net profit of Rs 5 crore for the quarter ended ... More

SBT clocks Rs 48-cr net
STATE Bank of Travancore (SBT) has posted a net profit of Rs 47.61 crore during the three-month period ended June 30. The bank recorded an operating profit of Rs 147.42 crore during the period. The interest income went up by 10.69 per cent ... More

LIFE INSURANCE

Bharti to sign group cover deal with LIC
IN one of the biggest company paid employee insurance deals, telecom major Bharti Tele-Ventures will sign a contract with Life Insurance Corporation to buy group life insurance policy for a total sum assured of more than Rs 930 crore. The ... More

GENERAL INSURANCE

Insurance cos bracing for flood of claims
GENERAL insurance companies are bracing themselves for a number of property and motor claims following damages due to flooding in Mumbai. Officials say it is still early, as normal life resumes slowly and people start returning to the office. ... More

CREDIT MARKET

Priority credit exceeds in Thiruvananthapuram dist
THIRUVANANTHAPURAM: Priority credit disbursement by banks in Thiruvananthapuram district for fiscal 2004-05 has exceeded Rs 1,828 crore against the targeted Rs 1,393.95 crore. This was revealed at the District Level Review Committee of ... More

MERGERS & ACQUISITIONS

Shriram Investments to merge with Transport
THE merger of Shriram Investments Ltd (SIL) into Shriram Transport Finance Company Ltd (STFC) will happen at a 1:1 ratio, the group announced on Thursday. The Chairman of the Shriram Group, Mr R. Thyagarajan, said that the merger would create ... More

SOCIETY & DEVELOPMENT

Indian Bank gesture to poor student
HYDERABAD: Indian Bank said it has sanctioned an educational loan of Rs 6.6 lakh to an economically backward student without any security, in response to news that appeared in the media on his plight. Mr Kaavali Ravinder, a son of a ... More

CO-OPERATIVES

Nabard plea to States on rural co-op banks
THE National Bank for Agriculture and Rural Development (Nabard) has called upon State Governments to adopt the recommendations of the Vaidyanathan Committee to improve the health of rural cooperative banks. "We need to address the problems of ... More

PEOPLE

Dhanalakshmi Bank MD not to attend board meet today
MR T.R. Madhavan, who demitted from the office of the Managing Director and CEO of Dhanalakshmi Bank on Wednesday, said he would not be attending the board meeting scheduled in Chennai tomorrow. Technically, he would be a member of the board ... More

Surgeon on Corpn Bank board
MANGALORE: Dr C.R. Kamath, a leading eye surgeon here, has been elected as one of the shareholder directors on the board of Corporation Bank, according to a bank release here. It said Dr Kamath would hold office of the director for a ... More