The Hindu Business Line : Tuesday, January 25, 2005

Wisdom of the weak dollar
For the US, the best possible way to knock down internal wages is to embrace a weak dollar. Also, it heals the American economy and vitalises the developing economies, says G. Ramachandran More

FOREX

Rupee tad up; gilts listless
MUMBAI: The rupee ended up marginally higher against the dollar on Monday amid good bids. The Indian currency opened at 43.73 levels against the US currency and closed slightly higher at 43.77 levels. It had finished at 43.81/82 levels at ... More

FINANCIAL PERFORMANCE

IOB net profit up 13.5 pc in Q3
INDIAN Overseas Bank's net profit for the third quarter of the current year increased 13.5 per cent over the corresponding period of last year, mainly because of lesser provisioning. Total income increased by Rs 12.60 crore — the rise in ... More

Syndicate Bank posts Rs 78-cr loss in Q3
SYNDICATE Bank has recorded a net loss of Rs 78.11 crore for the quarter ended December 31, 2004, against Rs 89 crore net during the corresponding period for the previous fiscal. The bank, however, had showed a growth of 20 per cent in its ... More

Canara Bank Q3 net down 27%
CANARA Bank reported a net profit of Rs 273.93 crore for the third quarter of this financial year, 26.91 per cent down from the corresponding quarter of the previous year. Briefing reporters, Mr V.P. Shetty, Chairman and Managing Director of ... More

SBT 9-mth operating profit up by 10.18 pc
STATE Bank of Travancore (SBT) has recorded a 10.18 per cent rise in the operating profit for the nine months of the current financial year ended December 31, 2004. The operating profit was at Rs 604.58 crore as against Rs 548.76 crore during ... More

Kotak Mahindra Bank net at Rs 19 cr
KOTAK Mahindra Bank has recorded a net profit of Rs 19.10 crore for the third quarter ended December 31, 2004, against Rs 18.95 crore in the previous year. Bank officials ascribed the flat growth in the bank's net profit to lower earnings in ... More

PRIVATE BANKS

Centurion Bank to begin housing finance operations
Centurion Bank will begin its housing finance operations in the current financial year, according to Mr Shailendra Bhandari, Managing Director of the bank. Addressing presspersons here on Monday after inaugurating bank's 62nd branch, he said ... More

PUBLIC SECTOR BANKS

BoB plans offices in Thailand, Singapore; awaits approval for Texas branch
MUMBAI: As part of its global expansion plans, Bank of Baroda (BoB) plans to set up a representative office in Thailand and is awaiting approvals from authorities in host countries for opening a branch in Houston, Texas, US. The bank ... More

CO-OPERATIVES

Insurance agency: Entry norms for UCBs eased
THE Reserve Bank of India has said that primary urban co-operative banks (UCBs) having a minimum networth of Rs 50 crore can henceforth undertake insurance agency business, without risk participation. Earlier, this kind of business was confined ... More

PEOPLE

P.K. Gupta assumes addl charge as CMD, Punjab & Sind Bank

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