Banking and Finance
Bank scrips close flat
BANK stocks remained flat through the week, with little activity. With almost all the results out (save two public sector banks _ Indian Bank and Allahabad Bank), the picture is one of modest bottomline growth for the bulk of the banking sector. T he markets appeared to have factored in the results in advance as there was little movement post-results for many of the listed banks.

UTI Bank plans to double CMS net
UTI Bank Ltd plans to double the network of centres offering cash management service (CMS) to 1,000 in six months.

Corpn Bank presents results under US GAAP; group net up 42 per cent
CORPORATION Bank on Friday announced the finalisation of its working results for 1999-2000 under the US Generally Accepted Accounting Principles (US GAAP) with a group net profit of Rs. 264.91 crores, a 42 per cent rise over the previous year's figure of Rs. 187 crores computed under the same method. The bank has two subsidiaries, Corpbank Homes Ltd and Corpbank Securities Ltd.

Welcome to the First Lady!
THE First Lady of Indian banking, Ms. Ranjana Kumar, deserves a warm welcome for taking on one of the toughest jobs _ that of reviving Indian Bank.

Banks in Kerala top priority sector lending target
PRIORITY sector lending by commercial banks in Kerala under the District Credit Plan surpassed the target in 1999-2000.

Certificate of registration
MUMBAI: THE Reserve Bank of India has rejected the application for grant of certificate of registration of Sanmitra Credits Ltd for carrying on the business of a non-banking financial institution.

Page One | Index | Home