Banks (Finance)
HDFC Bank Ltd, India's second-largest private bank, is enthusiastically disbursing retail loans, primarily catering to the rural market. The bank has seen significant growth in its retail business, rising 30% year-on-year, primarily driven by demand from areas outside the nine major cities. HDFC Bank's retail business
Banks (Finance)
Indian banks have collectively raised their interest rates following the Reserve Bank of India's (RBI) more-than-expected hike in interest rates by 50 basis points. The move aims to combat an ever-increasing inflation, but comes at a cost, making home, automobile, and commercial loans dearer for consumers. The rate
Banks (Finance)
Investors are increasingly concerned about the expiration next week of the lock-up period for cornerstone investors in Agricultural Bank of China's IPO, prompting a surge in short selling activity. The bank's share price fell by 4.8% to HK$3.98, making it the most shorted
Banks (Finance)
Meadows Bank, a Las Vegas-based community bank specializing in Small Business Administration (SBA) and United States Department of Agriculture (USDA) loans, has announced that it has provided SBA loans totaling over $6 million to four businesses in Nevada. The loans have helped create a total of 65 new jobs in
Banks (Finance)
National Bank of Fujairah (NBF) has announced the signing of a US $235 million club loan with a consortium of multinational banks. This 2-year facility will be used to support the bank's general business operations, reflecting its strong position in international financial markets. The facility was led by
Banks (Finance)
Beach Business Bank, a community business bank serving Southern California, has been recognized for its outstanding achievements in lending to small businesses. According to the Small Business Administration, the bank ranked 55th in the top 100 most active SBA 7(a) lenders in the United States by lending volume from
Banks (Finance)
Air India, facing significant financial challenges, is negotiating with public sector banks to restructure its working capital loan of Rs 21,000 crore. The proposed turnaround plan aims to make the airline EBITDA positive by 2012 and cash positive by 2014. Key components of the plan include converting 60% of
Banks (Finance)
UC Rusal has agreed on the main terms with foreign banks for a syndicated credit of up to $5 billion and is in talks with major Russian banks to refinance loans. The company is also preparing a bond program worth 30 billion rubles. Rusal expects to refinance around $11.3
Banks (Finance)
ICICI Bank, the country's largest private bank, reported a net profit of Rs 1,452 crore for the quarter ended March 2011, an increase of 44% over the year-ago period. This is the lender's highest growth rate in the last seven years. The bank's
Banks (Finance)
As the already cash-starved real estate sector grapples with a total estimated debt of about R80,000 crore, the alleged involvement of major players Unitech and DB Realty in the 2G spectrum scam has led to banks quietly deciding to choke credit to the sector. This move is expected to
Banks (Finance)
The State Bank of India has discontinued its highly popular teaser home loan scheme, citing RBI pressure and high real estate prices as reasons. The SBI Easy Home Loan and SBI Advantage Home Loan, which provided loans at competitive rates, will be replaced by a new floating rate product at
Banks (Finance)
Alipay.com Co., Ltd. has made a significant move in the online payment sector by partnering with ten prominent Chinese banks to offer a seamless and efficient payment experience. The new service allows users to make online payments using their credit card numbers without the need to open an online
