J&K BANK NET PROFIT UP 81%
Article Abstract:
The Jammu and Kashmir Bank Ltd has posted a 81 percent increase in net profit at Rs65.43 crore for the first nine months ended December 31, 1998 (Rs36.15 crore for the nine months ended December 31, 1997). Its income from operations has increased to Rs7,322 crore (Rs5,906 crore). Its operating profit has increased to Rs137 crore (Rs88 crore). Its total deposits has increased by 26 percent to Rs5,213 crore (Rs4,137 crore). Its advances has increased by 19 percent to Rs2,109 crore (Rs1,769 crore). (rk)(vr)
Comment:
The Jammu and Kashmir Bank Ltd has posted a 81 percent increase in net profit at Rs65.43 crore for the first nine months ended December 31, 1998 (Rs36.15 crore for the nine months ended December 31, 1997).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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FOREIGN AFCs GARNERING CHEAP FUNDS
Article Abstract:
Foreign asset finance companies (AFCs) are mobilising funds from banks at about 12-13 percent, which is below the prime lending rate, for undertaking their securitisation deals. They have been able to do this due to their higher credit rating, which is mainly because of the support provided by their overseas parents. Banks are losing 6-7 percent on the funds lent to these AFCs. The AFCs use these low cost funds to acquire quality assets from domestic non-banking finance companies. (khr)
Comment:
Foreign asset finance companies (AFCs) are mobilising funds from banks at about 12-13 percent, which is below the prime lending rate, for undertaking their securitisation deals.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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