Bank of Maharashtra Quarterly result

Bank of Maharashtra reported disappointing results with 90% growth in its Gross NPA at Rs.2450.48 crore (YoY) and 71.78% decrease in its Net Profit at Rs.46.85 crore (YoY). The Non-Interest Income grew 3.31% at Rs.183.07 crore. Net NPA stood at 1.76% compared to 0.88% YoY. The Capital Adequacy Ratio stood at 10.71%.

RBI monetory policy

Mr. Raghuram Rajan, the RBI Governer in his Monetray Policy review announced today REPO rate is hiked by 25 bps to 7.75%, CRR is left unchanged at 4%, Bank rate is reduced to 8.75%

YES Bank Second Quarter Results

Yes Bank announced its second quarter results today. The Net Profit of the bank grew 21.3% to Rs.371.1 crore (YoY). Non Interest Income (NII) grew to Rs.446.1 crore with growth of 61.2% (YoY). The gross NPA of the bank stood at 0.28% while Net NPA stood at 0.04%. The Return on Equity stood at 23.1% and Return on Assets stood at 1.5%.

The Total Advances of the bank stood at Rs. 47717 crore while deposits stood at Rs.67575.1 crore as on 30 September, 2013. Current and Savings Account (CASA) deposits stood at Rs. 13776 crore taking the CASA ratio to 20.4%.

RTGS 2013

RBI has introduced new RTGS system  with effect from 19th October 2013. Know all about the same by clicking and downloading the below link.


RTGS 2013

Wage settlement meeting dtd 11.10.2013

IBA not came out with any proposal in todays meeting as assured. Other issues discussed. UFBU calls for demonstration on 22 Oct 13 for early settlement.

SBI new Chairperson

Arundhati Bhattacharya is the new Chairperson of State Bank of India. 57 years old Arundhati Bhattacharya assumed office today only. She will head the bank for 3 years. She is also the first chairperson of the Big Brother of Indian Banks, State Bank of India. She was working as Manging Director and Chief Financial Officer of the bank prior to elevation.

Next round of wage negotiations on 11th October 2013

Almost 11 months have passed since the new wage settlement is due for nearly 10 lakh bank employees but still no headway is reached till date. The only item that UFBU and IBA has agreed till date is on Merger of DA. With the elections fast reaching this tortise walk will only delay the wage talks. Its high time that UFBU and its members take serious view and stern steps to clinch the settlement for its eager members. The next round of wage negotiation is fixed on 11th October 2013.

New CMD of Corporation Bank

Mr. S.R.Bansal assumed charges as CMD of Corporation Bank on 5th October 2013. Previously he was ED at Punjab National Bank

IDBI Bank 10th Foundation Day

Today IDBI Bank is celebrating its 10th Foundation Day. Previously it was an financing body for development of Industries known as Industrial Development Bank of India. Converted to general bank and changed name to IDBI Bank. As the government holds 51% shares of the bank its public sector bank. But it is working as private sector bank only.Fruitful 9 years of dedicated service to the nation has been rendered. We congratulate the bank on its 10th foundation day.

Result Season to start

Result season for the banking sector for half year ending Sept. 2013 will kick off with HDFC Bank and IndusInd Bank declaring their results on 15th October 2013.

Federal Bank - Stock Split

Federal Bank is splitting its shares from face value Rs.10 to Rs.2. The same will be effective from 17.10.2013.