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Bank
conversion expenses trim Kotak MFL net
Mumbai: Kotak Mahindra Finance Ltd (KMFL), which
is expected to start operations as a commercial bank shortly,
has posted a net profit of Rs 11.29 crore for the third
quarter ended December 31, 2002 compared to Rs 10.83 crore
during the corresponding period last year.
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UTI
runs up negative reserves of Rs 7,360 cr
Mumbai: UTI has recorded cumulative negative reserves
of Rs 7,359.8 crore as on December 31 '02, according to
information published for 66 schemes.
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ICICI
Bank Q3 net at Rs 330 crore
Mumbai: ICICI Bank on Friday announced a 16 per
cent jump in its net profit for the third quarter of the
current fiscal ended December 31, 2002 to Rs 330.30 crore
as against Rs 285 crore in the second quarter ended September
30, 2002.
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Prudential
ICICI to tap SIB network for southern foray
Mumbai: After crossing the coveted Rs 10,000-crore
mark, Prudential ICICI AMC has decided to ride the network
of South Indian Bank, country’s second largest branch-chain
in private banks, to tap the South.
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IOB
December quarter net up 157 per cent at 117 crore
New Delhi: Indian Overseas Bank, a Chennai-based
bank, has reported a 157 per cent growth in its net profit
during the quarter ended December 2002.
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Dollar
depreciation accounts for 17 pc of forex build-up
Mumbai: The Reserve Bank of India has confirmed
that nearly 17 per cent of the accretion to its forex
reserves in the current fiscal has been on account of
the US dollar's substantial depreciation against other
international currencies.
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Vijaya
Bank starts V-remit
Bangalore: Vijaya Bank has launched a new customer
service under which fund remittance can be done through
the electronic medium. Called V-remit, the new product
enables customers to transfer funds faster to their counterparts
having accounts in any of the bank.
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ICICI
PruLife hikes capital
Mumbai: ICICI Prudential Life Insurance Company
has increased its capital base by Rs 50 crore, taking
the total paid-up equity capital to Rs 375 crore.
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SBI
hints at selective rate cuts
Mumbai: State Bank of India plans to reduce its
lending rates further for select segments. Some of this
is expected before the 2003 Budget.
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