SBI to go for public offer next fiscal
New Delhi: State Bank of India (SBI) is planning to float a follow-on public offering in the second quarter of next fiscal according to SBI chairman A K Purwar. He, however, did not say how much amount the bank was expecting to raise from the offer.

Purwar said the bank is considering a stock split and will also raise Rs3,000-4,000 crore in debt in the next financial year.

At present, the bank's share is priced at Rs 10 face value and the share is likely to be split to Rs5 each. SBI is also in talks to acquire a bank in Bangladesh.
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ADB to float bonds worth $300-400 million bonds in few months
New Delhi: The Asian Development Bank (ADB) is likely to issue bonds to raise $300-400 million. A senior banking official said ADB is planning more bond issues in the coming years.

ADB is planning to lend about $2.25 billion to India in 2005-06, $2.45 billion in 2006-07 and $2.65 billion in 2007-08. ADB had lent India $1.2 billion in 2004-05.

A large part of the ADB lending in India is for the crucial infrastructure sector with focus being on three core-areas such as transport, urban and energy infrastructure.
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Banco Continental de Panama selects Infosys' Finacle
Infosys Technologies said that Banco Continental de Panama (BCP) has selected Finacle universal banking solution to power its operations across Central America. The bank will be investing approximately $20 million over two years.

The bank will replace its legacy core banking systems in Panama and other Central American countries with Finacle. The bank will also deploy Finacle CRM, e-banking and alert solutions.

With the rollout of Finacle, the bank will be able to consolidate its technology and operations platforms across the region. The solution will enable the bank to offer enhanced web-based banking experience by adding new functionalities like EBPP and multi channel alerts through Finacle e-bank solution.
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LIC MF targets Rs.8,000 crore in AuM
Chennai: The LIC Mutual Fund (LICMF) is targeting to achieve assets under management (AUM) of Rs8,000 crore for the year ending March this year. The funds' AUM on Feb 28 for the current financial year had touched Rs7,240 crore, an increase of nearly 150 per cent over the previous year. This was possible due to more money coming from existing schemes and launching new schemes and through opening more business centres.
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