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Vijaya
Bank plans foray in UK, UAE, China
Bangalore: As part of its plans to foray into international
markets Vijaya Bank is opening a branch in Hong Kong and
representative offices in UK, UAE, China and three other
Asian countries. In the future the Bangalore-based bank
plans to open representative offices in Britain, United
Arab Emirates, Oman, Singapore, Thailand and South Korea
and an offshore banking unit in Mumbai's special economic
zone.
Vijaya
Bank has seen its forex earnings jump by over 50 percent
in the last fiscal to Rs 7,270 crore last fiscal from
Rs 4,909 crore in 2002-03 and export credit increase to
Rs 852 crore last fiscal, compared to Rs 593 crore in
2002-03. Vijaya Bank's NRI deposits stood at over Rs 1,235
crore till March 2004, which accounts for almost 6.0 per
cent of the total deposits.
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Sundaram
Finance net up at Rs 56 crore
Chennai: Sundaram Finance has announced a profit
after tax of Rs 55.62 crore for 2003-04, higher by 22
per cent in relation to the previous year's profit of
Rs 45.66 crore.The company's board had earlier recommended
a dividend of 70 per cent on its equity shares that each
have a face value of Rs 10.
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Autosoft
tool for banks
Pune: Pune-based Autosoft Systems Ltd has launched
a low-cost high-end architecture structure providing centralised
banking solution. According to an official release, the
software incorporates control and checking measures, generates
exception reports so that the supervisor could monitor
immediately, audit trail, maintains edit history and built-in
transaction tracking system.
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OSS
reports compulsory for UCBs
Mumbai: THE Reserve Bank of India has decided to
extend the offsite surveillance (OSS), a supervisory reporting
system first introduced for the scheduled primary (urban)
cooperative banks, to all non-scheduled UCBs having a
deposit size of Rs 100 crore and above.
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