SBH Q3

State Bank of Hyderabad posted a 63% drop in net profit at Rs 119 Cr during the third quarter (Sept-Dec) of the current financial year, as against a net of Rs 332 Cr in the corresponding period last financial year. Net interest income (NII) was up just 1.28% to Rs 989 Cr as against Rs 976 Cr last year. Gross non-performing assets (NPAs) moved to Rs 5,589 Cr in December 2013 from Rs 3,186 Cr in March last year. Net NPAs too piled up to Rs 3,013 in December last year, as against Rs 1,449 Cr in March last. Net NPA ratio was higher at 3.21% from 1.61%. Total advances increased by Rs 4,784 Cr to reach Rs 96,955 Cr, while deposits grew by Rs 3,972 Cr at Rs 122,211 Cr. The total business stood at Rs 219,166 Cr as at the end of December 2013. The bank's credit deposit ratio increased to 79.13% in December 2013, up from 76.83% in December 2012.

Oriental Bank launches Aadhar based e-KYC service

Opening an account with Oriental Bank of Commerce (OBC) could now turn out to be a hassle-free experience. This public sector bank has announced the launch of Aadhar-based electronic know your customer (e-KYC) service at its branches, making the account opening exercise less daunting for prospective customers. OBC has become the first public sector bank to launch e-KYC services in coordination with the National Payments Corporation of India and Unique Identification Authority of India (UIDAI), a release issued by the bank said. A prospective customer looking to open an account in OBC will have to just walk into a branch and provide his/her Aadhar number and scan one of his enrolled fingerprint at biometric devices available at the branches. Using the e-KYC services of UIDAI, the bank will verify the identity and address of the customer and thereby reduce the processing time for opening an account.

IBA improves offer by 0.5%

Bipartite settlement held today 27th January 2014 between IBA and UFBU to settle the wage settlement of bankers saw IBA improvings its offer by 0.5% to 10% and the unions rejecting the same and announcing strike on 10th and 11th of February 2014.