Morgan Stanley
India | Friday, 8 August 2008

Bank Articles

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1. Get ready to pay more: Banks hike prime lending rates
Close on the heels of India's central bank's move of hiking interest rates, many public and private sector banks have raised benchmark lending rate which would make corporate, home, personal and auto loan costlier, slowing down credit demand.
01 Aug 2008
2. RBI's repo rate, CRR hike set to make loans dearer, hurt investments
Sacrificing economic growth, India's central bank, the Reserve Bank of India's (RBI) hiked the repo rate, or the key lending rate at which the central bank lends funds to commercial banks, and the cash reserve ratio (CRR) or the proportion of reserves the commercial banks must keep with the central bank, to 9 percent each on Tuesday to tame inflation.
30 Jul 2008
3. RBI hikes repo rate, CRR to 9 percent
Citing inflationary pressures, India's central bank, the Reserve Bank of India (RBI) moved, Tuesday, to hike its key lending rate by 50 basis points and banks' cash reserve requirements by 25 basis points.
29 Jul 2008
4. HDFC Bank's Q1 FY09 net profit jumps 44.6 percent boosted by Centurion buy
India's second largest private sector bank, HDFC Bank has posted 44.6 percent jump in net profit for the fiscal quarter ended June 30, 2008, attributing the surge in earnings to its successful acquisition of smaller Centurion Bank of Punjab.
28 Jul 2008
5. SBI net profit up 15 percent in Q1 FY09 on higher credit growth, fee income
India's largest bank, the state-run State Bank of India (SBI) has reported a 15 percent rise in net profit for the fiscal quarter ended June 30, 2008, despite higher interest rates, attributing the rise to higher credit growth, fee income.
28 Jul 2008
6. ICICI Bank's Q1 FY09 net profit falls 6.1 percent on slowing credit growth
India's second largest bank, ICICI Bank has reported 6.1 percent drop in net profit for the fiscal quarter ended June 30, 2008, attributing the decline to slowing credit growth.
27 Jul 2008
7. Allahabad Bank's net profit plunges 53 percent in FY08 Q1, blames depreciation in investments
State-run Allahabad Bank has reported a 53 percent drop in net profit for the fiscal quarter ended June 30, 2008, blaming the fall on higher depreciation on government securities.
21 Jul 2008
8. Citigroup posts $2.5B loss, but beats expectations
Citigroup has become the latest big bank to quell Wall Street's worries about a financial sector implosion, posting a $2.5 billion second-quarter loss that was smaller than expected.
20 Jul 2008
9. Axis Bank posts 89 percent growth in net profit in Q1 of FY09 despite higher provisions
India's Axis Bank (formerly UTI Bank) beat market forecasts by announcing 89 percent rise in the fiscal quarter ended June 30, 2008 (Q1 of FY09) despite making higher provisions.
15 Jul 2008
10. Biofuels main culprit for high food prices: World Bank
A confidential World Bank report published by the London newspaper, the Guardian, has blamed production of biofuels for the global food crisis.
07 Jul 2008
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