16
Monday
July 2018
11:36 PM IST
News Headlines
Rajinikanth Supports 'One India, One Election' Proposal        Trump asked me to sue EU over Brexit, says Theresa May        Haiti prime minister resigns after deadly unrest        Mukesh Ambani beats Alibaba's Jack Ma to become richest man in Asia        Djokovic beats Anderson, wins 4th Wimbledon title        Thailand Open Super 500: PV Sindhu loses to Nozomi Okuhara in final        France clinches World Cup with win over Croatia        H-1B visa alert: Donald Trump makes things worse for Indian techies        World Cup: Belgium beat England 2-0 to finish 3rd        PV Sindhu makes final of Thailand Open, Okuhara awaits        Angelique Kerber defeats Serena Williams to win Wimbledon 2018        Former A.P. Chief Minister Kiran Kumar Reddy returns to Congress        If Delhi tries to break PDP, outcome will be dangerous: Mehbooba Mufti        Former PM Nawaz Sharif, daughter Maryam arrested for corruption in Lahore        Social media hub like creating surveillance state: SC        World Cup: Deflated England, Belgium get ready for third place clash        First time in winter: FIFA confirms 2022 World Cup to be held between November and December in Qatar        Mental strength carried Croatia to World Cup final, says Lovren        Kohli currently best batsman because Smith not there: Ponting        Rupee up 19 paise against dollar ahead of key macro data release        
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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.


Mukesh Ambani beats Alibaba's Jack Ma to become richest man in Asia
Rupee up 19 paise against dollar ahead of key macro data release
Sensex rallies 400 pts to hit record high; RIL shares surge 5%
US dollar ends cheaper against rupee
BSNL starts first internet telephony service in India
Silver futures harden by 0.19% on global cues
Passenger vehicle sales rise 38% in June; car sales up 34%
DoT clears Idea-Vodafone merger with conditions
Goyal asks Coal India to ensure supply for power sector
Higher MSP may have inflation, fiscal costs: Report
Modi govt needs to shed 'obsession' with economic growth: Jean Dreze
Will work closely with West Bengal for its progress: Prabhu
Mukesh Ambani announces high-speed broadband, Jio Phone 2 with WhatsApp, FB
Gadkari flags off taxi ambulance services
India expecting US to get in touch with it over sanctions on Iran
Nifty ends higher, hovers around 10,700-mark
No plans to close operations at Brady House branch in Mumbai: PNB
India to provide tariff concessions on 3,142 items to APTA members
Exports seem to have good performance in June: Prabhu
WhatsApp's 'one-way' broadcast mode for group chats is here
KERALA NEWS
Kerala among 13 states on thunderstorm alert
 (New Delhi, May 7, 2018): Thunderstorms accompanied by squall, hail and heavy rains are likel  
Kerala Karshaka Jadha Opens to a Great Beginning / Video
Malappuram press club attack: RSS workers nabbed
Workers injured in mudslide at construction site
INTERNATIONAL NEWS
Trump asked me to sue EU over Brexit, says Theresa May
 (London, July 15, 2018):Embattled British Prime Minister Theresa May today revealed that Dona
Haiti prime minister resigns after deadly unrest
Former PM Nawaz Sharif, daughter Maryam arrested for corruption in Lahore
After UK-US spats, Trump flies in to turmoil in Britain
NATIONAL NEWS
Rajinikanth Supports 'One India, One Election' Proposal
 (Chennai, July 15, 2018):At a time when major political parties in Tamil Nadu are opposed to
Former A.P. Chief Minister Kiran Kumar Reddy returns to Congress
If Delhi tries to break PDP, outcome will be dangerous: Mehbooba Mufti
Bombay HC pulls up Pune cops over probe into Rajneesh's 'will'
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