India

Remarks by India’s finance minister fuel speculation that a reduction in interest rates could be forthcoming.

Muslim Commercial Bank posted 7% increases in both profit before tax of Rs. 17.2 billion, and profit after tax of Rs. 11.3 billion.

Vijaya Bank hopes to achieve an 18 to 20 percent credit growth in the current financial year.

Federal Bank has reported a net profit of Rs.190.35 crore for the first quarter ended June 30, 2012, against Rs.146.16 crore in the year-ago period, an increase of 30 per cent.

Bank of India will increase its retail and SME business up to 50 percent of its total.

City Union Bank’s first quarter net profit increased by 26.3 per cent at Rs. 73.89 crore from Rs. 58.51 crore the previous year.

Allahabad Bank reported a more than expected 23% net profit growth due to a Rs 120-crore cash recovery.

Bank of India is mandating a seven-bank group for a $175m two-year loan.

HSBC’s admission to money laundering for criminal syndicates compels regulators from both countries to exchange more information.

India’s YES Bank and Japan's Shinsei Bank enter into a comprehensive business alliance.

A low risk strategy enables India’s ICICI Bank to post a net profit of US$327 million in the first quarter.

Higher provisioning for bad loans pulled Punjab & Sind Bank'snet profit by 62.5 percent at Rs 24.03 crore for the first quarter ended June 2012.

Bank Negara Indonesia plans to sell Rp 1.2 trillion or $126 million of recapitalized bonds to finance the acquisition of Bahana Securities.

HDFC recorded 25 percent rise in consolidated net profit at Rs 1,275.86 crore for the first quarter ended June 30, 2012.

State Bank of India's asset quality has improved from last year, according to Chairman Pratip Chaudhuri.

UK's Financial Services Authority and the Reserve Bank of India mutually assist and exchange information in supervision of banks operating in both the countries.