Indian Banks

Bank of India, a leading Public Sector Bank having Head Office in Mumbai, invites applications for engagement of Incharge, SSPS on Contractual Basis. Bank of India (BOI) Mumbai engagement of In charge, SSPS on Contractual Basis.

Application Fee: Rs.300/-. Application will be on-line and payment will be received by all the branches of Bank of India only by a Challan printed through system.

How to Apply: Eligible Candidates are required to apply online through official website on or before 30/11/2011.

Detailed Information: http://www.bankofindia.com/UserFiles/File/SSPS.doc

Popularity: 2% [?]

The Saraswat Co-Operative Bank Limited requires 1000 Clerks (Marketing and Operations) in Grade B for its Branches in Mumbai (400 Vacancies), Thane (300 Vacancies) and Pune (300 Vacancies). Saraswat Bank, the premier and largest among the 1725 Urban Co-operative Bank in India has a network of 222 fully computerized branches o n CBS platform located in six states i.e. Maharashtra, Goa, Karnataka, Madhya Pradesh, Gujarat and New Delhi.

How To Apply: Interested candidates fulfilling the eligibility criteria may apply through Saraswat Bank o­nline recruitment form. The last date for receipt of application is 7th November 2011.

For Detailed Info: Click Here

OnlineApplication Form: http://www.saraswatbank.com/recruitment.jsp

Popularity: 1% [?]

Central Bank of India, A Leading public sector bank with Pan India Branch Network of more than 3817 branches, with total business of more than 310000 Crores and driven by talented work force of 34000 + employees, is looking for following Specialist Officers posts.

How To Apply: Candidates are required to apply online through official website up to 25/11/2011. online submission of application start from 05/11/2011.

Detailed Info: https://www.centralbankofindia.co.in/upload/Adv-rnp.pdf

Popularity: 2% [?]

Asharp rise in provisioning for bad loans lowered the net profits of public sector banks in the second quarter of this financial year. Most banks saw an increase in non-performing assets (NPAs) on back of rising interest rates and migration to an automated recognition system.

Mumbai-based Bank of Baroda (BoB) posted an increase of 14.4 per cent in net profit at Rs 1,166 crore in the quarter ended September, provisioning for bad loans more than doubled to Rs 298 crore as compared to same quarter, last year. “Increase in NPAs was seen from all sectors and geographies,” said M D Mallya, chairman and managing director. He said Rs 663 crore worth of assets were restructured quarter and 10-11 per cent of the total restructured portfolio slipped into NPAs in July-September.

All government banks were mandated to shift to an automatic NPA recognition system by the end of September. Also, adding to the pressure on banks’ asset quality was the monetary tightening by Reserve Bank of India as it raised policy rates 13 times since March, 2010.

Higher provisioning dragged Bangalore-based Canara Bank’s net profit 15.4 per cent, to Rs 852.2 crore during the reporting period. The higher provisioning was because the bank has migrated all accounts to the automated NPA recognition system. “We have taken a hit on our net profit mainly because of higher provisions towards NPAs to the tune of Rs 553 crore, higher by 3.5 times over the corresponding quarter,” S Raman, chairman and managing director, said.

New Delhi-based Oriental Bank of Commerce which has seen provisioning for bad loans and writeoffs more than double to Rs 485 crore in July-September this year, reported 58 per cent decline in net profit to Rs 167 crore.

An increase in bad loans also weighed on Corporation Bank which reported 14 per cent rise in net profit at Rs 401.11 crore. The gross NPAs of the bank rose 1.32 per cent at end-September from 1.05 per cent in the same period of the previous year. According to the management, the major source of addition to bad loans were small and medium enterprises and the agriculture sector.

Led by a higher yield on advances and lower provisioning, Kolkata-based UCO Bank posted a 94 per cent rise in net profit to Rs 231 crore for the quarter ended September 30, against Rs 119 crore in the same period last year.

Dena Bank reported 20.8 per cent rise in net profit at Rs 193.58 crore for the quarter ended September 2011. Its net interest income was up 16.43 per cent at Rs 514.9 crore.

United Bank of India posted a 13.7 per cent rise in net profit to Rs 124.77 crore for the quarter ended September against Rs 109.7 crore in the same period last year. The bank’s slippages more than doubled at Rs 623 crore in the last quarter, against Rs 203 crore in the same period last year. “More than 50 per cent of the slippages are on account of mid-corporate accounts; the rest is contributed by small ticket advances,” said Bhaskar Sen, MD and chairman.

(BS)

Popularity: 1% [?]

ICICI Bank, the country’s largest private sector lender, on Monday said its consolidated net profit for the quarter ended September 30 surged 43 per cent to Rs 1,992 crore, compared with Rs 1,395 crore a year ago. The rise was aided by higher earnings of the bank’s life insurance arm, ICICI Prudential Life Insurance Co.

ICICI Prudential Life Insurance Co reported profit after tax of Rs 350 crore during the quarter, compared with Rs 15 crore a year earlier. The higher profit was primarily due to the change in accounting for non-participating policyholders’ funds.

On a standalone basis, the bank’s net profit stood at Rs 1,503 crore during the three-month period, up 22 per cent from Rs 1,236 crore a year earlier. The growth in standalone profit was driven by lower provisions and higher interest income from advances.

Net interest income, or the difference between interest income and interest expenditure, rose 14 per cent year-on-year to Rs 2,506 crore. Fee income rose seven per cent to Rs 1,700 crore. The bank’s net interest margin was 2.6 per cent, unchanged from a year ago.

“We had a very healthy growth in profit, clearly keeping in line with our strategy of resuming growth from this year. Our aim would be to keep the net interest margin stable. The lending rates may rise if there is any increase in the cost of funds,” Chanda Kochhar, managing director and chief executive officer, ICICI Bank, said in her post-earnings comments.

Asset quality
The bank cut its provisions by 50 per cent, compared to a year ago, to Rs 319 crore during the quarter, due to improvement in the quality of its assets. The lender closed the quarter with a provision coverage ratio of 78.2 per cent. Net non-performing advances narrowed to Rs 2,184 crore from Rs 3,145 crore a year ago, leading to a 69-basis point rise in net bad loan ratio at 0.93 per cent. The gross non-performing loan ratio also rose by 89 basis points to 4.14 per cent as of September 30.

Net restructured assets stood at Rs 2,501 crore. The bank restructured Rs 743 crore of loans during the quarter, a significant share of which was accounted for by the microfinance sector.

Kochhar said the bank’s asset quality appeared to be stable and dismissed fears of the deteriorating quality of loans to the power sector. Advances to power companies accounted for about seven per cent of the bank’s loan portfolio.

Balance sheet
The bank’s advances increased 20 per cent year-on-year to Rs 233,952 crore, driven mainly by growth in corporate loans. “There has been some moderation in the growth of retail loans. While we are seeing growth in both corporate and retail advances, the growth is clearly higher on the corporate side,” Kochhar said. ICICI Bank aims to increase its advances by 18 per cent this financial year. The bank’s deposits rose about 10 per cent year-on-year to Rs 245,092 crore as of September 30.

The share of low-cost current account and savings account deposits to the total deposits improved sequentially to 42.1 per cent. Savings account deposits stood at Rs 70,149 crore, while current account deposits were Rs 32,997 crore.

The bank’s capital adequacy ratio was 18.99 per cent, while its Tier-I adequacy ratio was 13.14 per cent.

(BS)

Popularity: 1% [?]