India

The bond offering had an order book of US$2.7bn with interest from more than 220 investors.

The huge drop resulted from tax expenses and provisions, which surged as it ended “teaser loan” program that charged borrowers below-market rates in the initial years.

The lender joined forces with Belgium’s KBC Asset Management to form Union KBC Asset Management Company amidst crowded mutual fund market.

The Swiss lender is serious in its expansion in the country despite being a crowded market in serving millionaires.

Despite rising interest rates in India, the bank’s 2011 credit growth is estimated to be 20%.

Allahabad Bank's net profit increased to Rs.258 crore for the quarter ended March 2011 as against Rs.225 crore in the corresponding quarter last year. This represents a year-on-year growth of 14.74 per cent.

Indian government seeks support from banks for the growth of the sector.

A study revealed that state-run banks would need 500,000 employees over the next 10 years to maintain their competitive edge.

The product is now available in 3,000 branches across the country to promote income security to the elderly to all sectors of the society.

A study said they spend comparatively much lower time (less than half) on ICICI Bank while users spend maximum time on HDFC Bank and Citibank sites.

The bank’s board approves stock split as its beat market estimates behind surge in retail and corporate lending.

The lender to open 22 branches in the north as it aims to aims increased exposure to $28.07mn in agriculture, $44.91mn in SME and $89.81mn) in retail opening.

IDBI Home Finance got a go signal top merge with its parent IDBI Bank from the Corporate Affairs ministry.

An Indian-American pleaded guilty to conspiring to defraud the Internal Revenue Service with five HSBC bankers by hiding his Indian accounts.

The lender to begin scouting for a partner to offer wealth management products and services after the next 5-6 months.

The participation of NIB Bank Ltd. and Soneri Bank Ltd. in the ADB's Trade Finance Program  means there are now 13 Pakistani banks signed up to the program.