Happy Diwali

Wishing you and your family a very happy and prosparous Diwali

Result Update : United Bank of India

The Bank has recorded a net profit of Rs.162.08 crore for the first half of the current fiscal as against Rs.103.8 crore for same period last year. The deposits have grown by 16% from about Rs.26,000 crore to Rs.30,220 crore. Total advances increased from Rs.13,474 crore to Rs.18,622 crore. While the gross NPA stood at 4.37%, the net NPA stood at 2.44%. Result Update : Dena Bank The bank has recorded 41.34% raise in its net profit to Rs.68.75 crore for the quarter ended September 2006 as against Rs.48.64 crore over same quarter last year. The bank has made a major turnaround with the half year net profit being RS.87.24 crore as against a net loss of Rs.140.66 crore for the same period last year. Currently Net NPA stand at 2.89%. Result Update : State Bank of Bikaner and Jaipur The bank has reported a net profit of Rs.66.90 crore for the quarter ended September 2006 as against Rs.37.47 crore reported for same period last year. the capital adequacy ratio stood at 11.77%. While the gross NPA is at 2.35% the Net NPA stood at 1.12%. Result Update : Canara Bank Canara Bank has reported a net profit of Rs.361.77 crore for the second quarter of the current financial year 2006-07, up 18.41% from Rs.305.51 crore posted during the corresponding quarter of the previous fiscal. The total deposits stood at Rs.1,22,121 crore as at the end of the quarter. Centurion, LKB merger challenged A shareholder of Lord Krishna Bank of Wednesday approached the Kerala High Court challenging the decision taken at the AGM of the bank to merge it with Centurion Bank of Punjab. The petition was filed by Mr. Umesha Kumar Pai fo Ernakulam, who holds 200 equity shares of the bank. The petitioner sought a dircetion to the Central Government to appoint inspectors to investigate the affairs of the bank after making a declaration under Section 237 of the Companies Act that the affairs ot the bank should be investigated. He said that the most of the shareholders were prevented from participating in the AGM held on September 30. The meeting has hastily transacted all the eight items on the agenda, including the merger resolution, violating all the company laws. According to the petitioner, no discussion was allowed on the merger proposal and no independent Chairman was appointed as per the norms in the case of an amalgamation scheme approved by the High Court. (Business Line 20-10-2006) Cancellation of Banking licence: The Reserve Bank of India cancelled the licence of the Bharat Mercantile Co-operative Urban Bank, Hyderabad on October 17, as all efforts to revive the bank had failed. The RBI also requested the Registrar of Co-operative Societies, Andhra Pradesh, to issue an order for winding up of the bank and appoint a liquidator for the bank. The bank is now prohibited from carrying on business. Result Update : Kotak Mahindra Bank Ltd. The bank has reported net profit of Rs.34.8 crore for the quarter ended September 30, 2006 a growth of 12 % as on same quarter of previous year. The Advances of the bank grew 79% to Rs.8,386 crore. The Deposits were up 49% at Rs.8,194 crore. The Current and Savings accounts (CASA) deposits comprised 21 percent of total deposits. Result Update : IDBI Bank Ltd. The bank has shown marginal increase in net profit to Rs.139.40 crore for second quarter compared to Rs.131.84 crore reported for same quarter previous year. The Capital Adequacy Ratio has decreased to 14.66% from 16.3%. Although there is lagre decrease in Amount of Gross NPA from 2228 crore to 1332 crore, the Net NPA increased from 614 crore to 735 crore. The United Western Bank Limited has been amalgamated with the Bank wef October 3, 2006 as per the amalgamation scheme notified by Government of India. The above results do not include the results of United Western Bank Ltd. Result Update : Bank of Maharashtra The bank has shown 396% increase in Net Profit for the quarter ended September 30, 2006 at Rs.61.29 crore compared to Rs.12.35 crore for the same quarter of previous year. The Total Business stood at Rs.48,692 crore showing an increase of 19.76 %. The Deposits stood at Rs.29,493 crore showing a growth of 10.76%. The Advances stood at Rs.19,199 crore showing a growth of 36.82%. The Net NPA was reduced to 1.66% against 2.76%. The Capital Adequacy Ratio stood at 11.16%. Result Update : Union Bank of India Union Bank of India's net profit surged 218 % to Rs.194.16 crore during the second quarter ended September 30, form Rs.61.10 crore in the corresponding previous period. While Deposits grew 14.36 % for the quarter under review, advances went up 29.36%. The Capital Adequacy ratio stood at 10.79% and Net NPA was at 1.24%. Result Update : State Bank of Mysore The net profit of the bank surged to Rs.59.40 crore for the quarter ended September 30, as against Rs.51.52 crore at the end of corresponding period of previous year. Net NPA was brought down from 1.03% to 0.38%. The Capital Adequacy ratio stood at 11.13%. Result Update : Lakshmi Vilas Bank Ltd. The bank has reported 90% jump in its net profit for the quarter ended September 2006 at Rs.3.83 crore as against Rs.2.01 crore for the same period previous year. Deposits grew to Rs.4,844 crore from Rs.3,646 crore and Advances grew to Rs.3,463 crore from Rs.2,325 crore. The Capital Adequacy ratio stood at 10.15%. Canara Bank Cashback scheme Canara Bank has launched a cashback scheme for the festival season for its 2.5 million ATM-cum-debit card customers. The scheme, operational all over the country, will remain open during the period between October 15 and November 13. It offers cashback upto three percent of purchases up to a maximum of Rs.1,000. Result Update : ING Vysya Bank Ltd. The bank has reported a 110% increase in its net profit at Rs.41.39 crore for the second quarter of the current year 2006-07. However, during the period the bank also earned Rs.26.40 crore through divestment of its stake in the Bharat Overseas Bank in favour of Indian Overseas Bank. If this profit is netted off, the bank's net profit drops to Rs.15 crore for the second quarter. The Current account and Savings account (CASA) deposits in the bank's total deposits stood at 31% (Rs.3,936 crore) as at September 2006. Net NPA is reduced from 1.98% to 1.57%. Result Update: Vijaya Bank Vijaya Bank has reported a 36% increase in its net profit at Rs.102.33 crore for the second quarter of the current financial year 2006-07 and has declared 10% interim dividend. The Deposits of the bank stood at Rs.25,938 crore registering a growth of 23.2% over corresponding period last year. Result Update : The Bank of Rajasthan Ltd. The bank has shown a net profit of Rs.55.24 crore for the quarter ended September 2006 as against Rs.5.24 crore over same period last year. The bank has shown 60.57 crore as other income which includes RS.36.54 crore being profit on sale of equity shares considered as long term capital asset. The total business stood at Rs.12,924 crore. The Capital adequacy ratio stood at 13.52%. The Net NPA stood at 0.76%.