India

According to Bloomberg, StanChart ranks third in Indian mergers advisory this year.

Villagers only need to produce a certificate from the headman along with photographs for opening of accounts.

The Nations Trust Bank reported post-tax profits of Rs 1,170 million for the first 9 months of the year, up 38% over the corresponding period in 2010.

Analysts anticipate that asset quality will deteriorate over the next 12-18 months, given the tightening environment.

The fundraising activity before March aims to augment thin capital and weakening asset quality.

Standard Chartered's problems in India caused its growth to slow down in the latest quarter.

City Union Bank today reported 25.8 per cent jump in net profit to Rs 77.52 crore for the second quarter ending September 30. For the half-year this fiscal covering April to September, the net profit of the Kumbakonam-based bank rose to Rs 136.03 crore, from Rs 105.95 crore in the same period of 2010-11, said the company statement. The total income for the second quarter ending September 30, rose to Rs 460.24 crore, as against Rs 336.08 crore. For the half-year ending September 30, the total income grew to Rs 877.26 crore as against Rs 635.42 crore recorded during the same period of previous year. For the source of this story, click here.

India and Myanmar should conclude an agreement on cooperation in banking and financial services to boost flow of two-way investment and trade.

BNP Paribas is negotiating to but out its Indian partner Geojit Financial Services in an institutional broking joint venture.

City Union Bank has decided to hold off plans to revise its interest rates on savings bank accounts.

Public sector banks are will not raise interest rates as they are convinced their customers will remain loyal.

Allahabad Bank registered a net profit of Rs.488.01 crore for the second quarter ended Sep 30, 2011, from Rs.402.57 crore last year. This figure represents a growth of 21.22 percent. Bank chairman and managing director J.P. Dua ascribed the good results to "leveraging the network operation." The Kolkata-headquartered bank's operating profit increased to Rs.949.29 crore during the period under review from Rs.781.53 crore during the corresponding period last year, registering a growth of 21.47 percent. Net interest income (NII) of Rs.1318.23 crore, during the second quarter of this financial year, showed a growth of 36.01 percent. Deposits of the bank went up to Rs.142,043 crore as on Sep 30, 2011 from Rs.113,633 crore on Sep 30, 2010, showing a year-on-year growth of 25 percent. Gross credit was Rs.96,854 crore as on Sep 30, 2011, as against Rs.83,183 crore as on Sep 30, 2010. Year-on-year basis, the gross credit growth was 16.44 percent. 'Our total business was Rs.238,000 crore as of Sep 30 this year. We have a target of Rs.280,000 crore total business at the end of the current fiscal,' Dua said. Dua said last year the government had infused Rs.670 crore and this year the bank was hopeful of getting Rs.1,000 crore. The bank has planned to open 155 new branches and 500 ATMs within the financial year 2011-12.

The bank’s auto loan, home loan, personal loan, education loan and consumer loan functions are now automated.

The card has been tagged as the premium forex card for the global Indian.

Yet rate increases by the central bank have started hurting demand for retail loans.

As part of its green initiative, the Reserve Bank today asked all non-banking financial companies (NBFCs) to gradually phase out use ofcheques and shift to electronic payment system.