Vijaya Bank net spurts 98% in Q1
Bangalore: Vijaya Bank says its net profit for April-June quarter jumped 98.43 per cent to Rs 80.90 crore from Rs 40.77 crore a year ago. The total income for the bank surged to Rs 602.68 crore in the latest quarter, up 30.67 per cent from Rs 461.21 crore a year ago. But the total income slowed marginally sequentially from Rs 603.34 crore even as net profit improved by 23.6 per cent sequentially from the January-March quarter of 2003.

The bank reported an operating income of Rs 445.81 crore. Interest on advances was Rs 218.37 crore, up 18.14 per cent from Rs 184.84 crore a year ago. However, interest income from investment saw a dip of 5.28 per cent to Rs 222.10 crore from Rs 234.49 crore a year ago. Other income also decreased to Rs 156.87 crore in the latest quarter from Rs 171.26 crore a year ago.
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SIDBI capital gains bonds wear a uniform
Mumbai: Small Industries Development Bank of India (SIDBI) has made uniform the rate of interest on capital gains bonds floated by it, irrespective of the size of the investment. SIDBI has increased the interest rate to 5.50 per cent from 5.25 per cent for investments less than Rs 1 crore. This brings the rate on par with investments of Rs 1 crore and above. The higher interest rates will be effective July 24, said SIDBI.
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SBH lowers term deposit rates
Hyderabad: State Bank of Hyderabad (SBH) has announced further downward revision of interest rates on domestic term deposits effective from 25 July 2003. The new rates of interest and the existing for deposits below Rs 10 crore are: For 15-46 days, the revised rate would be 4.25 per cent per annum (4.50 per cent existing); for 46-90 days, 5 per cent (5.25 per cent); 91-179 days, 5 per cent (5.25 per cent); 180 days to less than one year, 5.25 per cent (5.50 per cent); one year to less than two years, 5.50 per cent (6 per cent); two years to less than three years, 5.75 per cent (6.25 per cent) and three years and above, 6 per cent (6.25 per cent), according to a bank release.
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