New Managing Director of State Bank of Travancore

Jeevandas Narayan has taken over as Managing Director of State Bank of Travancore. Beginning his career as a probationary officer in State Bank of India, Narayan held several key assignments in the bank. He also had an overseas assignment in Kuwait and with SBI Capital Markets in India. His latest assignment was Chief General Manager, Patna Circle of SBI, which covers the States of Bihar and Jharkhand.

DCB Bank Q3 Result

Private sector lender DCB Bank reported a net profit of Rs 36 Cr in the October-December quarter of FY14, up 35% as compared with Rs 27 Cr in the year-ago quarter. Net interest income (difference between interest earned and expended) rose 31% to Rs 94 Cr (from Rs 72 Cr in Q3 FY13). Non-interest income was up 14% at Rs 33 Cr. The net non-performing assets (NPAs) increased to 0.77% (from 0.73%), while gross NPAs improved to 2.77% (from3.80%). As on December 31, 2013, the bank’s total advances increased by 23% to Rs 7,361 Cr, while total deposits grew 27% to Rs 9,592 Cr. Retail deposits constitute 77% of total deposits. During the quarter net interest margin increased to 3.55% as against 3.38% in Q3 FY13

Yes Bank Q3 Results

 YES Bank has reported a 21% rise in net profit on the back of stable interest income and loan growth in the third quarter of this fiscal. The private sector bank’s profit after tax was Rs 416 Cr, compared with Rs 342 Cr in the corresponding quarter last year. Net interest income increased 14% to Rs 665 Cr (Rs 584 Cr in Q3 FY13), and non-interest income rose 24% to Rs 388 Cr (Rs 313 Cr).  Net interest margin declined to 2.9% due to higher cost of funds, which was a result of the cumulative effect of RBI’s rate hikes. As on December 31, 2013, total advances grew 15%, while deposits increased 21% on the back of growth in current and savings accounts (CASA). Asset or loan quality deteriorated with gross non-performing assets (NPAs) increasing to Rs 196 Cr (0.39% of total advances) from Rs 76 Cr (0.17%). Net NPAs increased to Rs 42 Cr (0.08%) from Rs 16 Cr (0.04%). The bank plans to add 100-150 branches in the next 15 months to its current network of 517 branches as on December end.

 

Corp Micro Plus

 

 

 

Corporation Bank will launch ‘Corp Micro Plus’, a special campaign for micro enterprises from January 17 to March 31. The rate of interest will be at base rate (10.25% currently). There will be no processing charges during the campaign period. S. R. Bansal, Chairman and Managing Director of the bank, inaugurated a fully furnished SME (small and medium enterprise) loan centre at Ahmedabad on Monday, which will cater to the financial requirements of the MSME sector in Ahmedabad, Kadi, Rajkot, Gandhidham and Jamnagar. The bank is planning to open SME loan centres at Pune, Ludhiana and Chennai before February 15.