Federal Bank has posted a net profit of Rs 203.89 crore for the third quarter (Q3) ending December 31, 2009, as against Rs 102.92 crore during the corresponding period of the last year (December 2007).
The Kerala-based bank said that a sharp increase in other income and lower interest income helped it to post nearly two-fold increase in its net profit.
The bank said, “The figures for the corresponding previous periods are not reclassified and therefore not comparable.”
Dublin - Irish Prime Minister Brian Cowen said Friday that it was "business as usual" at the nationalized Anglo Irish Bank as trading in its shares was suspended on the Dublin stock exchange, Irish national broadcaster RTE reported.
Finance Minister Brian Lenihan said late Thursday that the Irish government would take complete control of Anglo Irish after it deemed a plan to inject cash into Ireland's third-largest bank "not now the appropriate and effective means to secure its continued viability."
Frankfurt - The European Central Bank (ECB) lowered its key interest rate by half a percentage point on Thursday, underscoring efforts to combat the recession gripping countries in the eurozone.
The reduction of the benchmark refinancing rate to 2 per cent came amid a slowdown in inflation and a flood of gloomy economic data in what is shaping up to be a tough economic year.
Indusind Bank has announced a phenomenal growth in its standalone net profit for the three month period ended December 31, 2008.
During the third quarter, the bank has recorded growth of 79.95% in its net profit to Rs 450.60 million, as compared to Rs 250.40 million during the corresponding period of the previous year (Dec 2007).
The bank’s interest income grew 25.10% to Rs 6,274.80 million, whereas total income for the same period zoomed 34.34% to Rs 7,605.50 million, when compared with the prior year period.
London - Britain's Royal Bank of Scotland (RBS) announced the sale of its stake in the Bank of China for 1.6 billion pounds (2.3 billion dollars) on Wednesday.
The Edinburgh-based bank, which also owns NatWest, was effectively nationalized during the banking crisis when the government took a majority share of almost 58 per cent.
RBS acquired the 4.3-per-cent holding in the Bank of China for 900 million pounds in August 2005.
Stock market analysts have suggested investors to ‘sell’ ICICI Bank stock with a target of Rs 415.
According to them, interested investors can sell the stock between Rs 425-430 with a strict stop loss of Rs 438.
Today (Jan 14), the stock opened at Rs 440, against its last closure at Rs 426.25 on the Bombay Stock Exchange (BSE) on Tuesday (Jan 13). Current EPS & P/E ratio stood at 37.03 and 12.10 respectively. The share price has seen a 52-week high of Rs 1465 and a low of Rs 282.15 on BSE.
The near-term outlook is bearish for ICICI Bank so analysts have recommended ‘sell’ on this stock.
Federal Bank has posted a net profit of Rs 203.89 crore for the third quarter (Q3) ending December 31, 2009, as against Rs 102.92 crore during the corresponding period of the last year (December 2007).
Dublin - Irish Prime Minister Brian Cowen said Friday that it was "business as usual" at the nationalized Anglo Irish Bank as trading in its shares was suspended on the Dublin stock exchange, Irish national broadcaster RTE reported.
Frankfurt - The European Central Bank (ECB) lowered its key interest rate by half a percentage point on Thursday, underscoring efforts to combat the recession gripping countries in the eurozone.
Indusind Bank has announced a phenomenal growth in its standalone net profit for the three month period ended December 31, 2008.
London - Britain's Royal Bank of Scotland (RBS) announced the sale of its stake in the Bank of China for 1.6 billion pounds (2.3 billion dollars) on Wednesday.
Stock market analysts have suggested investors to ‘sell’ ICICI Bank stock with a target of Rs 415. 
