22
Wednesday
November 2017
1:01 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 moves in line with Asia, up 154 pts
Paytm mall to offer accidental damage cover to smartphones
Click pics of illegally parked cars; get rewarded: Gadkari
Rupee slips 5 paise against dollar to 65.06
Moody's rating upgrade: Officials hope others will follow suit
Sensex zooms 414 points after Moody's ups India rating
US dollar ends cheaper against rupee
Indian companies create 113K jobs in US: Report
Cochin Shipyard Q2 net dips 8 pc to Rs 100 crore
Rupee tanks 35 paise to hit 1-wk low; crude plays spoilsport
Sensex hits new record of 33,853.63; Nifty rises 34 pts
Apple to recruit employees from an Indian engineering college this year
Offline version for GSTR-4 launched on GST portal
Jerome Powell-led Federal Reserve could be US dollar-positive in long term
Rly committee suggests new categories for grading stations
Gadkari plans Rs 5-tln bond sale to fund large infra projects
158 crorepatis, 61 with criminal cases in HP polls: ADR
US dollar ends lower against rupee
PIA forgets two coffins in New York: media
India jumps 30 notches to 100th place in 'ease of doing biz'
KERALA NEWS
Dileep can visit Dubai
 (Kochi, Nov 21, 2017, DG): The Kerala High Court on Tuesday relaxed the bail conditions of ac  
Navy aircraft crashes during take off at Kochi
Police against relaxing bail conditions of Dileep
Munnar harthal turns violent
INTERNATIONAL NEWS
Trump declares North Korea state sponsor of terrorism
 (Washington, Nov 21, 2017): US President Donald Trump today declared North Korea a state spon
Pak Interior Minister wants more time to end Islamabad's siege
Pak, China discuss new US policy in Af, South Asia
Lanka PM appears before bond probe panel
NATIONAL NEWS
No differences with CPI(M) in Kerala: CPI general secretary
 (Hyderabad, Nov 21, 2017): CPI general secretary S Sudhakar Reddy today downplayed the allege
Winter session in December, UPA too did it: Par Minister
Demonetisation turned people into beggars, says Sena
Guj polls battle of casteism, dynasty against development:Shah
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.