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State Bank of Hyderabad

The bank has reported a net profit of Rs.128.76 crore during the second quarter of current fiscal ended September as against Rs.71.14 crore in the corresponding quarter of previous fiscal, a growth of 81.02 %. While the gross NPAs were brought down to 1.77%, net NPAs were reduced to 0.23%. The total business registered a growth of 25.02% and stood at Rs.63,850 crore. The deposits stood at Rs.39,789 crore while advances stood at Rs.24,063 crore.

News

Punjab National Bank - Medical cover for depositors The bank plans to offer a medical insurance cover from November to depositors for a lower price than market rate and has tied-up with private insurer, Reliance General Insurance, for the purpose. The facility will be optional for all kind of depositors and be issued by the bank to its 35 million depositors . The depositors can also go for medical insurance cover for their family members. RBI keen on Mobile Banking The Reserve Bank of India is testing the applicability of providing mobile banking facility to the customers of the banks. The experiments are currently on at the Institute for Development and Research in Banking Technology (IDRBT) on using mobile telephony technology for banking transaction. State Bank of Patiala starts Depository sevices The bank has started offering Depository services at select branches of the bank, which will enable its customers to open Demat accounts for keeping their shares in electronic forms. Bank Strike on 27 th October 2006 United Forum of Bank Unions has called for all India bank strike on October 27 to protest a whole range of issues including proposed mergers in the public sector banks, outsourcing of retail banking activities and attempts to privatise banks. They have also demanded the filling up of vacancies of about one lakh in PSBs as well as restoration of compassionate appointment. According to Mr.C.H.Venkatachalam, convenor, UFBU, the Chief Labour Commissioner (Central) held a conciliation meeting on October 18 at New Delhi between the unions and the Indian Banks Association. but the conciliation meeting failed to produce any results. He termed as retrograde the government move to merge 27 banks into four or five big banks. Mr.Venkatachalam said the capital of all the PSBs put together was only $3 billion or about 14,000 crore, whereas the capital of Citibank alone was $63 billion or about 3,00,000 crore. He said even merging all PSBs would not make them global in size. the total assets of all 27 PSBs in India are less than $300 billion, which are dwarfed in comparison to some of the big global banks. Asset Portfolio (in $ billion) Mizuho financial Group--------------------------1,285 Citibank-----------------------------------------1,264 UBS---------------------------------------------1,121 Credit Agricole Groups--------------------------1,105 HSBC--------------------------------------------1,034 Deutsche Bank-----------------------------------1,015 BNP Paribas--------------------------------------- 989 Mitubishi Tokyo------------------------------------975 Sumitomo Mitsui-----------------------------------950 Royal Bank of Scotland------------------------------806 State Bank of India-----------------------------------91 Punjab National Bank---------------------------------23 Canara Bank------------------------------------------22 Bank of Baroda----------------------------------------19 Bank of India------------------------------------------19 Central Bank of India----------------------------------14 Union Bank of India-----------------------------------13 Indian Overseas Bank---------------------------------11 Syndicate Bank---------------------------------------10