Result Update

Federal Bank The net profit of Federal Bank has grown by 28 % to Rs.69.46 crore for the second quarter of current year as against Rs.54.16 crore for same period last year. While gross NPA is down to 4.13% as against 5.97%, Net NPA is down to 0.67% as against 1.60%. The capital adequacy ratio stands at 12.80%. The total business grew by 21.71% to Rs.31,002 crore. Deposits grew 14.5% to Rs.18,288 crore and advances grew to Rs.12,714 crore. The above results does not include the results of Ganesh Bank of kurundwad which Federal Bank took over recently. ICICI Bank The bank has reported a 30% rise in net profit at Rs.755.01 crore in second quarter against Rs.580.05 crore in the same period last year. The advances stood at Rs.1,55,403 crore at September 2006 as against Rs.1,07,070 as at September 2005. The deposits stood at Rs.1,89,499 crore at September 2006 as against Rs.1,20,452 as at September 2005. In the second quarter, the bank raised hybrid Tier I capital worth $340 million from international markets and Rs.800 crore from the domestic markets. It also picked up Rs.1,200 crore through issue of upper Tier II bonds in the local market. The average interest cost of the domestic Tier I capital is about 10% and that of upper Tier II capital is 9.25%. The Capital Adequacy ration of the bank is 14.34%.

News

UCO Bank to sell Reliance General Insurance Products Reliance General Insurance Company Ltd, a part of the Anil Dhirubhai Ambani Group, has entered into a tie-up with UCO Bank for selling personal accident insurance products through the bank's network across the country. Under the arrangement, UCO bank depositors would be covered under the personal accident insurance scheme at a one-shot premium of Rs.6.99 for rupees one lakh. The sum assured may go in multiple of rupees one lakh upto a maximum of rupees five lakh. Stan Chart 2-in-1 account The bank has relaunched its 2-in-1 accounts by offering an 8% per annum interest for 188 days, the best rate in the market in that tenure. This account comes with four free-cash withdrawal transactions at any visa ATM across India. The minimum value for the term deposit is Rs.1 lakh and an initial cheque of Rs.10,000 is required to fund the linked savings account. this special offer is open to customers only during the campaign period (September 18 to December 31) Indian Bank As part of bank's ongoing Centenary year celebrations, it has introduced Premium Current Account and the SB Platinum Account with Sweep facility. This revolutionary offer ensures that surplus amounts in your above account get invested in short term deposits, fixed deposits or reinvestment schemes to earn interest like any other term deposit. ¯ Auto sweep at Daily intervals;¯ In multiples of customers’ choice;¯ Choice of tenure upto One year Sweep facility is available in all the CBS branches across the country. Along with the Sweep facility, the customer will also get a host of free add-ons as under PREMIUM CURRENT ACCOUNT FREE ** ð Internet, Mobile & Phone Banking ð ATM-cum-Global Debit Card as eligible ð DDs/BPOs AT PAR upto Rs.3 lakhs ð Stop payment & attestations carriedout ð IndBank Bill Pay (Utility Bill payment)* SB PLATINUM FREE ** ð Life Insurance cover for Rs.1 lakh from LIC ð Personal Accident Insurance cover - Rs.1 lakh ð Internet, Mobile & Phone Banking ð ATM-cum-Global Debit Card ð DDs/BPOs AT PAR upto Rs.25000/- ð IndBank Bill Pay (Utility Bill payment)* ð Personalised Cheque Book * in select cities ** conditions apply. for further details you can contact nearby branch of the bank.