STANCHART POSTS Rs66.7-CR NET
Article Abstract:
Standard Chartered Bank (StanChart) has recorded 54 percent rise in net profit, 40.56 percent increase in other income and 26.4 percent increase in interest income during 1997-98. (gsh) ------------------------------------------------------------ Financial Results: Standard Chartered Bank (Rs in crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Interest Income 693.63 175.60 ------------------------------------------------------------ Other Income 202.76 51.33 ------------------------------------------------------------ Expenditure 728.10 184.33 ------------------------------------------------------------ Provision and Contingencies 101.60 25.72 ------------------------------------------------------------ Net Profit 66.70 16.89 ------------------------------------------------------------ Capital adequacy ratio (%) 8.50 8.60 ------------------------------------------------------------ Return on assets (%) 1.04 1.26 ------------------------------------------------------------
Comment:
Posts 54% rise in net profit, 40.56% rise in other income & 26.4% rise in interest income during 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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STANCHART STEPS ON THE Y2K GAS
Article Abstract:
The Standard Chartered Bank has sharpened its focus on the Y2K problem by developing a new Y2K credit policy. The new policy makes it statutory for all the companies to meet certain infotech-specific criteria for becoming eligible for loan assessment. This policy will benefit the concerned in 2 ways. Firstly, it will bring about awareness among the companies about the seriousness of the Y2K problem. It will also improve the risk profile of the bank's loans. The Standard Chartered Bank also plans to cancel the leave of all its Y2K-related critical staff from the last quarter of 1999 to the first quarter of 2000 AD. These steps would enable the bank and its clients to go through the transition phase without any problems. (ag/kvr)
Comment:
The Standard Chartered Bank has sharpened its focus on the Y2K problem by developing a new Y2K credit policy.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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STANCHART LAUNCHES INSTABUYS CREDIT CARD INSTALLMENT PLAN
Article Abstract:
Standard Chartered Bank (STB) has launched a new facility - InstaBuys. It is a credit card installment plan. Under the scheme, the card holders can avail the specially designed financing option on purchase of commodities worth Rs10,000 and more. Its financing ranges from Rs10,000 to Rs80,000. Such financing can be availed with installment option of 6, 9, 12, 18 and 24 months. The facility covers a wide range of commodities, like consumer electronics, home appliances, 2- wheelers and computers. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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