Rupee sheds another 13 paise
Mumbai: The rupee closed at 46.26/27 against the dollar on Thursday, weaker by 13 paise from Wednesday's close of 46.13/14.
Forward Market: The six-month forward closed at 2.05 per cent (1.96 per cent) and the twelve-month forward ended at 1.72 per cent (1.75 pc).
G-Secs: Yield to maturity on the 10-year benchmark rose by over 10 basis points to close at 5.96 per cent after opening at 5.84 per cent. "
Call Rates were easy at 4.00-4.25 per cent.
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Corporation Bank Q1 net declines
New Delhi: Corporation Bank has recorded a net profit at Rs 105.51 crore during the quarter ended June 30, a 17 per cent decline over the net of Rs 126.43 crore in the corresponding quarter in the previous year. The bank's gross profit increased by 12.41 per cent to Rs 227.86 crore during the quarter. The gross non-performing assets (NPAs) of the bank declined to 5.01 per cent while net NPAs were at 1.8 per cent. The bank aims to cut down its NPA to below 1.5 per cent this fiscal. The loan advances of the bank increased by 26.30 per cent to Rs 14,487 crore till June 2004.
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UCO Bank Q1 net up 4.4 per cent
New Delhi: UCO Bank has announced a 4.4 per cent growth in net profit to Rs 142 crore during the quarter-ended June 30, 2004 against Rs 136 crore during the corresponding period in the previous fiscal. The total business of the bank was up by 25 per cent at Rs 56,934 crore up to June 2004. Deposits were up by 23 per cent at Rs 37,053 crore at the end of first quarter of this fiscal while loan advances grew by 30 per cent to Rs 19,881 crore.
The bank's net NPA has come down to 3.35 per cent from 3.8 per cent a year ago.
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SBT Q1 net up by Rs.94 crore
Thiruvananthapuram: The State Bank of Travancore (SBT) has registered 84-per cent increase in net profit during the first quarter ended June 30, over the same period last year. The net profit for the quarter was Rs 94.01 crore as against Rs 51.22 crore in the previous year, according to a statement from the bank. The net interest income increased by Rs 45.44 crore to touch Rs 203.52 crore. The capital adequacy ratio improved from 11.36 per cent as on March 31, to 12.34 per cent at the end of the quarter. The net non-performing assets declined from 1.39 per cent as at the end of the previous year to 1.06 per cent at the end of the quarter.
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South Indian Bank Q1 net declines
Kochi: The Thrissur-based South Indian Bank has clocked a net profit of Rs 18.44 crore for the first quarter of the current fiscal, against Rs 22.60 crore recorded for the corresponding previous period. The operating profit stood at Rs 39.18 crore (Rs 52.09 crore). The bank's net worth has increased from Rs 343.58 crore to Rs 413.33 crore. It was able to record a capital adequacy level of 12.09 per cent, while the RBI-stipulated level is nine per cent. While the gross NPAs were reduced from 10.05 per cent to 7.51 per cent, the net NPAs were pruned from 6.20 per cent to 4.53 per cent, a bank release said. The bank was able to notch a growth in business of 18.3 per cent to Rs 12,055 crore (Rs 10,194 crore).
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