SBM NET PROFIT UP 5.12%
Article Abstract:
The State Bank of Mysore (SBM) recorded a 5.12 percent rise in its net profit at Rs14.17 crore during April-June 1998. Its operating profit grew by 5.63 percent to Rs34.91 crore (Rs33.05 crore during the same period of 1997). Its interest grew by 8 percent to Rs64.93 crore (Rs60.20 crore). Its non- interest income grew by 25 percent. It proposes to restructure its branches to achieve synergy between planning and operations. It also proposes to set up 30 specialised branches along with other government-owned banks. (ag)
Comment:
Proposes to set up 30 specialized branches along with other government-owned banks
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
GTB SPREADS WINGS TO CUT COST OF FUNDS
Article Abstract:
Global Trust Bank (GTB) has mobilised a sizeable amount of savings and current deposits in 1997-98 by laying more thrust on retail banking. The bank's spreads stood stagnant at 3-5 percent, but non-interest income coming from commissions, brokerage and money market operations went up during the year. GTB increased the number of branches to 46 in 1997-98 to cut down on cost of funds and capitalise on savings and current deposits in the long run as against the term deposits, which carry a high interest burden. (gsh)
Comment:
Increases the number of branches to 46 in 1997-98 to cut down on cost of funds & capitalize on savings & current deposits
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
BANK MUSCAT SETS UP SHOP IN INDIA
Article Abstract:
Bank Muscat International has set up its India headquarters in Bangalore and officially commenced business on September 9, 1998 by bringing in $10 million as capital. The bank has initially decided to concentrate on mid-sized corporates in southern cities like Mangalore, Hyderabad, Kochi and Chennai. The bank will offer financial services like corporate finance, retail banking, project finance, merchant banking and treasury services. It will also provide 24-hour ATM banking and one stop teller services. (khr)
Comment:
Sets up India headquarters in Bangalore and officially commenced business on 9/9/98 by bringing in $10 mil as capital
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: ITC NET PROFIT ZOOMS 52% ITC'S Q2 NET UP TO Rs180 CRORE. NOVARTIS H1 NET PROFIT ZOOMS 104%
- Abstracts: SEARLE REGISTERS 43% FALL IN NET PROFIT NOVARTIS HIKES DIVIDEND TO 40% PONDY OXIDES NET PROFIT UP 105%
- Abstracts: LALBHAIS WANT TO BUY BACK AFL SHARES BEFORE MERGER APOLLO TYRES DESUBSIDIARISES TWO COMPANIES RPG MOVES TO DILUTE STAKE IN CEAT FIN
- Abstracts: ITI POSTS Rs5-CRORE PAT ITI's POST-AUDIT PAT GALLOPS 170 PERCENT MAX INDIA TO OFFER SPECIAL DIVIDEND