BANKAM NET PROFIT JUMPS 87.3%
Article Abstract:
Bank of America (BankAm) has posted 87.3 percent rise in net profit to Rs177 crore in its Indian operations for 1997-98 (Rs94.49 crore in 1996-97). The improvement in performance has been attributed to rise in other income which increased by 67.28 percent to Rs154.65 crore (Rs92.45 crore). (gs) ------------------------------------------------------------ Bank of America: Financial Results (in Rs crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Net Profit 177.00 94.49 ------------------------------------------------------------ Deposits 3,860.00 2,975.83 ------------------------------------------------------------ Advances 3,844.08 2,984.60 ------------------------------------------------------------ Other Income 154.65 92.45 ------------------------------------------------------------ Reserves 602.60 425.60 ------------------------------------------------------------ Investments 1,916.96 1,319.63 ------------------------------------------------------------
Comment:
Posts 87.3% rise in net profit to Rs177 crore in its Indian operations for 1997-98 vs Rs94.49 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BANKAM TO FINALISE SALE OF UNITS SOON
Article Abstract:
Bank of America is likely to finalise the sale of its personal banking divisions in India, Taiwan and Singapore by mid-April 1999. The bank decided to close down its personal banking operations after its recent global merger with Nations Bank. The banks which are interested in acquiring the division include ABN Amro, Standard Chartered, Citibank, ANZ Grindlays, GE Capital, HSBC, ICICI and Banque Nationale de Paris. Bank of America feels that the personal banking operations in Taiwan, India and Singapore should be sold to one buyer and not on a piecemeal basis. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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ADB, ICICI, BANKAM, SBI TO TAKE STAKE IN PETRONET LNG
Article Abstract:
The Asian Development Bank (ADB), ICICI, Bank of America and the State Bank of India have made an offer to acquire equity stakes in Petronet LNG, a joint venture between IOC, ONGC, GAIL and Bharat Petroleum. ADB has offered $30 million as investment and $120 million as a loan for the project while ICICI plans to invest Rs150 crore to acquire an equity stake. Sources say that ADB and ICICI are likely to pick up a 10 percent stake each in the holding company of Petronet LNG. (khr)
Comment:
The Asian Development Bank (ADB), ICICI, Bank of America and the State Bank of India have made an offer to acquire equity stakes in Petronet LNG, a joint venture between IOC, ONGC, GAIL and Bharat Petroleum.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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