New Delhi: The Oriental Bank of Commerce (OBC) is planning to increase the share of its business in rural areas to about 30 per cent from the current level of about 18 per cent. The bank''s total business as on March 31, 2008 is pegged at about Rs 1,30,000 crore. On Global Trust Bank (GTB), the source said that OBC may look at starting the next financial year with a clean slate. With the bank expected to make record profits this financial year, OBC''s senior management likely to entirely write-off the remaining GTB losses in the accounts for financial year 2007-08 itself, rather than wait for another year and make quarterly provisions (about Rs 65 crore every quarter) in 2008-09.
Showing posts with label Share. Show all posts
Showing posts with label Share. Show all posts
Tuesday, April 1, 2008
Monday, March 17, 2008
Dhampur Sugar Kashipur Fixes Book Closure
Dhampur Sugar Kashipur Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed on March 28, 2008 for the purpose of Annual General Meeting (AGM) of the Company to be held on March 25, 2008.
Thursday, January 24, 2008
ICICI Bank Likely To Mop Up $1 Billion In Unit''s Share Sale
ICICI Bank Ltd. plans to raise as much as $1 billion by selling a stake in its investment banking and securities unit in the next four months. ICICI Bank said Jan. 19 it planned to sell shares in its ICICI Securities Ltd. unit. The Mumbai-based bank also plans to monetize its investments in other units such as insurance joint ventures and asset management company.
The asset sales would help the bank raise funds for loans after lending grew 25 percent in the fiscal third quarter as companies borrowed more in an economy poised to expand at 9 percent for a third year. ICICI Bank has ``negligible'''' investments related to the U.S. subprime mortgages and the credit squeeze in global markets won''t slow the bank''s global expansion plans, said the source. The bank plans to expand its global assets as the domestic loan demand growth slows with rising prices and interest rates. ICICI Bank, which raised $10 billion last year in overseas debt, will also use its branches in the U.K. and Canada to boost funds.
The asset sales would help the bank raise funds for loans after lending grew 25 percent in the fiscal third quarter as companies borrowed more in an economy poised to expand at 9 percent for a third year. ICICI Bank has ``negligible'''' investments related to the U.S. subprime mortgages and the credit squeeze in global markets won''t slow the bank''s global expansion plans, said the source. The bank plans to expand its global assets as the domestic loan demand growth slows with rising prices and interest rates. ICICI Bank, which raised $10 billion last year in overseas debt, will also use its branches in the U.K. and Canada to boost funds.
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