Standard Chartered Bank plans to raise at least $1 billion through an Indian Depository Receipts (IDR) issue in the local markets.
According to latest reports, the lender has already appointed JM Financial and UBS AG as lead managers for what could be the first IDR issue by a global player.
Apart from this, the bank has also appointed Goldman Sachs, Bank of America and Kotak Mahindra to manage the issue.
According to a report released by rating agency Crisil, a nearly three-fold increase in gross non-performing assets (NPAs) of the banks is projected by the year 2011 - the figures are likely to go up from the last year's 2.3 percent of advances to 5 per cent of advances by 2011.
Speaking in absolute terms, the gross NPAs would from last year level of Rs 55,000 crore to Rs 1.9 lakh crore.
The report says increased gross NPAs would result from increasing defaults in payments by companies and small and medium enterprises (SMEs), because of their puny risk profile and severe strain on operating margins.
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.
Standard Chartered Bank plans to raise at least $1 billion through an Indian Depository Receipts (IDR) issue in the local markets.
According to a report released by rating agency Crisil, a nearly three-fold increase in gross non-performing assets (NPAs) of the banks is projected by the year 2011 - the figures are likely to go up from the last year's 2.3 percent of advances to 5 per cent of advances by 2011.
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. 
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.
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.
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.
