18
Thursday
January 2018
5:33 AM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
Business News
Catholic Syrian Bank expects to raise funds by December
 
(Chennai, Oct 23, 2017):Kerala-based Catholic Syrian Bank (CSB) hopes to conclude its fundraising exercise by December.

T S Anantharaman, chairman, said the second half of the exercise would be concluded by then. CSB needs Rs 400-600 crore. Sources say SSG Capital Management, InCred Finance, Aion Capital, JM Financial and Everstone-backed IndoStar Capital are among the investors which have shown interest.

R Rajendran, managing director of CSB, say that 25-30 investors had shown interest and three-odd rounds of discussion were over. He said: “We have told the Reserve Bank that CSB will be listed in the next one and a half years.”


CSB had a net loss of Rs 149 crore in 2015-16 and then turned around in 2016-17, with net profit of Rs 1.6 crore, on the back of treasury gains. Anatharaman said the challenge was to have growth in operating profit this year without the benefit of treasury gain. The operating profit was Rs 9 crore in the first, June, quarter and Rs 34 crore in the September one. Net loss was Rs 14 crore in the first quarter; the next one saw a profit of nearly Rs 1 crore.

The aim in the financial year’s second half was to make up for the June quarter’s loss and register a decent profit overall, said Anatharaman.

Rajendran said they were targeting a credit to deposit ratio of 75 per cent by year-end, from 52 per cent now. The cost to income ratio would be brought down to 50 per cent from the current 75 per cent; it was 103 per cent last year.

It has set a target to grow three per cent more than the sector average in both advances and deposits in 2018-19.

During the half year ended September 30 , advances grew Rs 1,240 crore to Rs 9,585 crore. Gross and net non-performing asset ratios had come down to 6.75 per cent and 4.73 per cent, respectively, as on end-September. Gross and Net NPA figures were Rs 624 crore and Rs 428 crore, respectively.


Sensex hits 35,000 mark as IT stocks lead gains
Bitcoin, other cryptocurrencies tumble on government crackdown worries
Sensex, Nifty extend gains to hit fresh highs
Passport may no longer serve as address proof
Rupee extends losses against US dollar in late morning trade
Stocks scale fresh record high as Coal India spurts
Sensex at new high on fund inflows; Nifty above 10,600
CBDT relaxes norms for MAT on firms facing insolvency
Indian ports set to double their profit: Gadkari
Sensex, Nifty hit new record high on fund inflows
Gold strengthens on sustained demand, silver recovers
Govt extends compulsory jute packaging for foodgrains, sugar
Sensex succumbs to late sell-off; auto, IT slip
Anti-dumping duty likely on Chinese chemical imports
Rs 39 lakh cr needed for infra in urban areas until 2032: Puri
Sensex trade flat, marginally up 9 points in late morning
Sensex advances 30 points; rupee gains 15 paise vs USD
Mukesh Ambani’s Reliance Jio to acquire mobile business assets of Anil Ambani’s RCom
Mercedes-Benz to launch new Maybach S 650 at Auto Expo 2018
Sensex stays flat, investors cautious on F&O expiry
KERALA NEWS
State gears up for second literacy movement
 (Thiruvananthapuram, Jan 17, 2018): Kerala -- declared the first complete literate state in t  
Charge sheet leak: Court orders probe
Bar bribery: No evidence against KM Mani says Vigilance
Investigation team toughens stance against Dileep
INTERNATIONAL NEWS
'7 ethnic Rakhine killed as Myanmar police open fire at riot'
 (Yangon, Jan 17, 2018): Myanmar police opened fire on a crowd of ethnic Rakhine Buddhists as
Japan broadcaster mistakenly flashes missile alert
North Korea calls Trump nuclear button boast the 'bark of a rabid dog'
Rocket lands in Indian Embassy premises in Kabul, no casualties: MEA
NATIONAL NEWS
Padmaavat producers move SC against ban by various states
 (New Delhi, Jan 17, 2018): The Supreme Court today agreed to hear the plea of producers of co
No immediate necessity to float party, says Dhinakaran
Defence Minister Sitharaman flies in Sukhoi-30 MKI
NSA Ajit Doval attends BJP ‘poll meeting’, CPI(M) urges EC to probe
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.