NII for the quarter March 09 increased by 12.8% YOY and declined by 6.4% QOQ. NII for QOQ decreased on account of reduction in interest earned.

NII for year FY09 increased by 42.0%

Profit before provisioning increased by 44.3% YOY and 7.7% QOQ. Increase in profit was on account of increase in other income.

HDFC Bank reported PAT of 630.9 crores resulting in increase of 1.5% QOQ and 33.9% YOY.

PAT for the year. FY09 increased by 41.2%. EPS for Q409 stood at 14.8 resulting in an increase of 11.6% QOQ and 41.2% YOY

Washington - US President Barack Obama met Thursday with leaders of the credit-card industry, urging them to end unfair practices that are raising costs on indebted consumers, while US lawmakers are considering a wider crackdown on the sector.

Obama said he hoped to create a new system that "eliminates some of the abuses" including sudden interest-rate hikes and late-payment fees, which have added to unmanageable debts for some US consumers.

Geneva - Banking giant Credit Suisse Group reported Thursday a net profit of 2 billion Swiss francs (1.71 billion dollars) in the first quarter of 2009, in part owing to a recovery of its trading unit.

Last year's first quarter saw the bank lose 2.15 billion francs.

The investment banking segment reported income before taxes of 2.41 billion in the first quarter of 2009, compared with a 3.42 billion loss last year.

Private sector lender Yes Bank on Wednesday informed that its net profit rose 24.20% to Rs 80.11 crore in the quarter ended March 2009 as against Rs 64.50 crore during the previous quarter ended March 2008.

In addition, the lender's total operating income also grew 46.44% to Rs 566.31 crore in the quarter ended March 2009 as against Rs 386.73 crore during the previous quarter ended March 2008.

For the full year, bank's net profit surged by 51.90% to Rs 303.84 crore in the year ended March 2009 as against Rs 200.02 crore during the previous year ended March
2008.

With the Reserve Bank of India (RBI) having decided on the slashing of short-term lending and borrowing rates - the repo and reverse repo rates - by 25 basis points apiece in its 2009-10 annual monetary policy, banks intend cutting lending rates, thereby making consumer, home, personal and corporate loans cheaper.

While the repo rate has been slashed to 4.75 percent and reverse repo to 3.25 percent, the other key ratios - like the Cash Reserve Ratio and the deposit-percentage that banks keep with the RBI - have remained unchanged.

Mumbai, Apr 21: The Reserve Bank of India (RBI) revealed the annual monetary policy here on Tuesday.

According to the report, the short-term lending (repo) rate and borrowing (reverse repo) rates have been reduced by 25 basis points.

The repo rate, thus stands at 3.25 per cent while reverse repo rate stands at 4.75 per cent.

The RBI has said that there is scope for banks to cut lending rates and has asked banks to review their benchmark prime lending rates (BPLR).

A committee has now been formed to review the BPLR system.