Centre to infuse Rs 1,248 cr in PNB

The Central Government has decided to infuse Rs 1,248 crore in Punjab National Bank (PNB) by way of preferential allotment of shares, the bank has said in a communication to the stock exchanges...

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IDBI Bank net inches up to Rs 416.76 cr in Q3

State-owned IDBI Bank today reported a marginal 1.7 per cent increase in net profit at Rs 416.76 crore for third quarter ended December 31, 2012. The bank had posted a net profit of Rs 409.81 crore for the same quarter of last fiscal, IDBI Bank said in a filing to the BSE.  Total income of the bank increased to Rs 7,070.19 crore during the October-December quarter, from Rs 6,281.83 crore in the year-ago period.  For the first nine months of 2012-13, the bank has clocked 5.3 per cent rise in net profit, to Rs 1,327.64...

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HDFC Bank net jumps 30% to Rs 1,859 cr

HDFC Bank has reported a 30 per cent increase in net profit at Rs 1,859 crore for the third quarter ended December 31, 2012 against Rs 1,430 crore in the year-ago period.The private sector lender has posted a 22 per cent rise in total income at Rs 10,507 crore (Rs 8,623 crore). Total expenditure increased 20 per cent to Rs 7,483 crore (Rs 6,245 crore),Shares of HDFC Bank were trading at Rs 662.85 per share on the BSE, down 0.61 per cent over the previous close, on the BSE at 1.15 pm...

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IDBI to raise Rs 3k cr via QIBs, preference shares to govt

State-owned IDBI Bank today said it proposes to raise Rs 555 crore by issuing preference shares to the government, and up to Rs 2,500 crore from institutional investors.The board has approved the proposal for preferential issue of equity capital aggregating Rs 555 crore — including premium — to the government, IDBI Bank said in a filing on the BSE.Last fiscal, the government infused Rs 810 crore in the bank by way of preferential allotment of shares.The bank said the board has also cleared raising capital up to Rs 2,500 crore by offering shares...

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SEBI clears Bajaj Finance rights issue plan

Market regulator SEBI has given its go-ahead to the non-banking finance company Bajaj Finance’s proposed rights issue to raise up to Rs 750 crore.In a rights issue, shares are issued to the existing investors as per their holding at a pre-determined price and ratio.Bajaj Finance had filed draft documents with SEBI in November to raise up to Rs 750 crore through a rights issue.SEBI issued its final observations on the draft offer documents on January 8 as per the latest update by the market regulator.Bajaj Finance, a subsidiary of Bajaj Finserv,...

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Muthoot Finance Q3 net up 7.65 % at Rs 270 cr

Muthoot Finance Ltd has registered a 7 per cent growth in its net profit in the third quarter of FY13 at Rs 270 crore, against Rs 251 crore last year. Total income for the period also grew by 11 per cent at Rs 1,365 crore against Rs 1,230 crore.For the nine-month period ended December 31, the company registered a 19 per cent growth in its net profit to Rs 784 crore compared to Rs 657 crore the previous fiscal.Total income stood at Rs 3,976 crore compared to Rs 3,255 crore — a growth of 22 per cent.Retail Loan Assets Under Management increased...

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R.K. Dubey is Canara Bank CMD

R.K. Dubey, 59, has been appointed the Chairman and Managing Director of Canara Bank. He assumed charge on Friday.A press statement from the bank said Dubey’s was areas of expertise include planning and budgeting, resource mobilisation, credit, risk management, human resources (HR), IT and marketing. A post-graduate in English, Dubey also has a degree in law and management in HR practices. He is also a certified associate of the Indian Institute of Bankers. Dubey joined Punjab National Bank in 1977 as a management trainee and moved up the ranks...

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Bank of Baroda sees no change in bad loans

Public sector lender Bank of Baroda doesn’t see significant improvement in the asset quality and restructured book in the near term unless growth picks up, a top bank official has said.“We have seen some improvement on the bad asset front but not great improvement. For significant improvement to happen, we need growth to pick up,” BoB executive director P. Srinivas told PTI.He also said the NPA (non-performing asset) numbers may be at the same level as reported in the second quarter of the current financial year.BoB’s gross NPAs stood at 1.98...

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Banks want PAN rule relaxed for non-deduction of tax at source

Banks want the revenue authorities to do their depositors, who are economically weak, aged and infirm, a good turn.They have moved the authorities to allow them to act upon self-declarations made in Form 15G and Form 15H (for non-deduction of tax at source) by the above mentioned category of people even if they do not have a permanent account number (PAN).Banks, under the aegis of the Indian Banks’ Association, have impressed upon the Finance Ministry (the department of revenue functions under the ministry) that such a move will alleviate the...

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Raj Kumar Goyal takes over as ED, Central Bank of India

Raj Kumar Goyal has taken charge as Executive Director of Central Bank of India. His appointment is effective from January 11.Goyal comes in place of Rajeev Kishore Dubey, who has taken over the reigns of Canara Bank as its Chairman & Managing Director.The new Central Bank of India ED was previously with Bank of India as General Manager, Human Resources Development.  He has more than 35 years experience in banking having worked in the areas of credit, human resources, general operations and international banking at Bank of India’s...

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