New Delhi, July 31 : The HDFC Ltd today announced a hike of 0.75 per cent in lending rates from August 1 for old and new floating rate customers, who would now have to pay a minimum of 11.75 per cent interest on home loans.

“This is in line with the rates of interest in the economy, which have hardened due to rising inflation and shrinking liquidity in the domestic market,” the lender said in a statement.

The move by HDFC closely follows an up to one per cent rate revision by leading PSU banker Punjab National Bank, Axis Bank and J-K Bank that made all home, corporate, personal and auto loans expensive.

London - Pre-tax profits at HBOS, Britai

Frankfurt - Germany's biggest bank Deutsche Bank AG reported Thursday a 64 per cent fall in second quarter earnings on the back of write-downs totalling 2.3 billion euros (3.6 billion dollars).

The Frankfurt-based bank said that net profit fell to 649 million euros from 1.78 billion euros in the second quarter last year.

This comes in the wake of a 311-million-euro pretax loss run up by Deutsche's key investment banking business as a result of the continuing fallout from the financial market crisis triggered by the US subprime mortgage upheaval.

Vienna - Austria's Erste Bank on Wednesday reported a 12.5 per cent increase in net profits to 636.6 million euros (993.1 million dollars) for the first half of 2008.

Strong performances of subsidiaries in Central and Eastern Europe as well as record operating income in the second quarter contributed to the growth, the retail bank said.

Operating income rose 17.2 per cent to 3.51 billion euros in the first six months of 2008, from 2.99 million euros last year.

Bank of Baroda has decided to form two joint ventures (JVs) with Italy and UK based companies for undertaking the business of mutual fund and life insurance.

BoB asset management, arm of Bank of Baroda has formed joint venture with Italy based pioneer company.

The new company is registered as BoB Pioneer Asset Management Company, in which BOB holds 51% equity shares and rest are owned by the Italy based company.

London - Britain's Lloyds TSB bank Wednesday