HOUSING FINANCE - CAN FIN HOMES
Article Abstract:
Can Fin Homes is a housing finance company sponsored by Canara Bank. It gets its funds from fixed deposits and loans from banks, National Housing Bank (NHB) refinance and company's own funds. Majority of the funds come from short term deposits. During 1997- 98, Can Fin's financials suffered owing to slump in the property prices since its main borrowers are builders and corporates. The net profit fell by seven percent to Rs11.12 crore. For nine months ending December 1998, Can Fin posted a total income of Rs80.42 crore. The net profit increased by 15 percent to Rs10.38 crore owing to reduced interest costs. (um)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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SBI FACTORS POSTS 44% RISE IN NET
Article Abstract:
The net profit of SBI Factors, a subsidiary of the State Bank of India (SBI), increased by 44 percent to Rs3.62 crore in 1997-98 (Rs2.52 crore in 1996-97). Its factored debts increased by 5 percent to Rs460.58 crore (Rs438.14 crore). Its pre-payment limits grew by 52 percent to Rs136.50 crore (Rs90.15 crore). Its debt purchase limits grew by 45 percent to Rs188.28 crore. The company is mainly involved in providing factoring services for domestic trade. (khr)
Comment:
Posts 44% increase in its net profit to Rs3.62 crore in 1997-98 vs Rs2.52 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BOB RECORDS 16.2% INCREASE IN NET
Article Abstract:
Bank of Baroda posted 16.2 percent growth in net profit to Rs118.15 crore in the third quarter of 1998-99 compared to second quarter of 1998-99. It had posted net profit of Rs126.50 crore in the first quarter of 1998-99. It posted net profit of Rs346.36 crore for the nine months ended December 31, 1998. Its global deposits increased by 6.7 percent to Rs41,673 crore. Its global credit touched Rs20,168 crore. (rk)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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