All posts by banking

Govt may infuse capital in UBI

Reported by | Updated: February 17, 2014

The government has committed to infuse an additional capital of around Rs 800-Rs1,000 crore into United Bank of India, which is facing a major crisis. This will helep the bank to comply with Basel-III norms. However, the capital infusion may be coming with a rider that the bank will make sustained efforts to recover bad […]

ICICI Bank to start electronic branches

Reported by | Updated: February 17, 2014

ICICI Bank has opened 61 24×7 electronic branches across 33 cities. Eight of these electronic branches are in Tamil Nadu. This initiative of an automated branch offering self-service solutions round-the-clock aims to provide customers an opportunity to leverage technology and transact at their convenience, says the bank’s executive director Rajiv Sabharwal. The project is part […]

Australian banks among the safest

Reported by | Updated: February 17, 2014

Australia’s banking sector has been rated one of the five safest in the world as profits soar and bad debts decline. Global credit ratings agency Standard & Poor’s has bestowed the ranking on Australia’s banks, despite pointing to a decline in property prices, a hard landing in China and regulatory changes as potential – though […]

ICBC plans acquisitions in Middle East

Reported by | Updated: February 17, 2014

Industrial & Commercial Bank of China will consider acquisitions in the Middle East as part of plans to boost earnings from the region by 50% this year. The bank’s CEO to the Middle East Zhou Xiaodong said the bank is looking to see if there are acquisition opportunities. Part of the reason why the bank […]

Banks undergoing structural changes: Dubey

Reported by | Updated: February 14, 2014

The banking sector in India is undergoing structural changes even as it plays a key role in growth and development process, says R.K. Dubey, CMD, Canara Bank. Addressing the Federation of Karnataka Chambers of Commerce and Industry, on ‘Capacity building and scope for advancement in career and entrepreneurship’ at the Bangalore University, Dubey, said the […]

Audit team finds lapses in United Bank of India NPA system

Reported by | Updated: February 14, 2014

An RBI initiated external audit report into the affairs of United Bank of India has found serious lapses on the part of credit appraisal and automated NPA detection system of the bank. According to reports, an audit team from Deloitte had examined the bank at the instance of RBI and has come out with a […]

FirstRand to infuse additional capital

Reported by | Updated: February 14, 2014

The Indian unit of South African bank FirstRand Bank is bringing in Rs 120 crore of capital to bolster its balance sheet. According to Rohit Wahi, CEO and country manager of the bank, the capital base of the bank would now go up to about Rs 390 crore. The capital infusion is being done to […]

StanChart cutting real estate exposure in India

Reported by | Updated: February 14, 2014

Standard Chartered Bank is in the process to reduce its exposure towards commercial real estate segment in India. The exercise is being conducted after the bank received a mandate from global regulators to cut exposure towards the underperforming sectors in the country by June 2014. Sources say the mandate requires consolidating the book size by […]

Bank of America sacks 450 more

Reported by | Updated: February 14, 2014

Bank of America is cutting 450 mortgage jobs from West Coast offices after new loans fell short of internal forecasts. Affected employees were told about the eliminations, which involve workers who process new home loans. California locations that will lose workers include an office in Concord, and another in Pasadena that will be shut entirely. […]

NMB Bank of Nepal selects ElectraCard

Reported by | Updated: February 14, 2014

ElectraCard Services (ECS), a provider of software and processing solutions for electronic payment systems has been entrusted with the work of end-to-end management of debit and credit cards of Nepal’s NMB Bank. The company will offer these services through their world class PCI DSS certified data centre. NMB Bank, one of the leading commercial banks […]

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