Frankfurt - Shares in Commerzbank AG bounded ahead Monday after Germany's second biggest bank said it was tapping the government's bank rescue fund for an 8.2 billion-euros (10.6 billion dollars) capital injection after posting a third-quarter loss.
The announcement it was to receive aid from the 470-billion-euro fund to strengthen its capital base came as the bank unveiled a 285- million-euro net loss in the three months to the end of September in the wake of the world financial crisis.
The third-quarter loss compared to a 339-million-euro net profit in the same period last year.
Allahabad Bank, one of the oldest banks in India, has announced a Festival Bonanza for its customers in various buckets of Term Deposits.
The lender stated in a official release that the rate of interest on Term Deposits for Senior Citizens will be 11% per annum for a period of one year up to three years, however for others, it will be 10.50% per annum.
Public sector lender Indian Overseas Bank has informed that its board has approved a plan to raise capital of Rs 1100 crore through Tier-I and Tier-II bonds.
The bank will raise Rs 300 crore through Tier I perpetual bonds, Rs 290 crore through lower Tier II bonds and Rs 510 crore by way of upper Tier II bonds.
Yesterday, Indian Overseas Bank has declared its quarterly results. The lender has registered a net profit of Rs 359.01 crore for the second quarter ended September 30, a growth of 12.29 per cent from that in the corresponding period year ago.
Karur Vysya Bank (KVB) has informed that it has signed a memorandum of understanding (MoU) with SME Rating Agency of India
(Smera) to enable its SME Borrowers to get rated themselves.
Under the arrangement, Smera will provide data about external credit rating by considering the financial position and qualitative factors that have a bearing on the credit worthiness of the SME and Karur Vysya Bank will finance the SME.
According to sources, the MoU plans a co-operation between the two institutions for financing of SME by leveraging the strengths of both the organisations.
Punjab National Bank, a leading public sector lender, has decided to reduce the Benchmark Prime Lending Rate (BPLR) by 50 bps from 14% to 13.50% w. e. f. November 01, 2008.
The bank stated in the release that the revised BPLR shall be applicable in respect of all existing and new accounts linked with BPLR where rates are charged at BPLR and above.
In addition, the interest rates on Housing Loans, Car Loans and Education Loans which were reduced w. e. f October 16, 2008 as a part of festival bonanza will continue at the reduced rates.
Frankfurt - Shares in Commerzbank AG bounded ahead Monday after Germany's second biggest bank said it was tapping the government's bank rescue fund for an 8.2 billion-euros (10.6 billion dollars) capital injection after posting a third-quarter loss.
Allahabad Bank, one of the oldest banks in India, has announced a Festival Bonanza for its customers in various buckets of Term Deposits. 
In order to inject more liquidity in t
Public sector lender Indian Overseas Bank has informed that its board has approved a plan to raise capital of Rs 1100 crore through Tier-I and Tier-II bonds.
Karur Vysya Bank (KVB) has informed that it has signed a memorandum of understanding (MoU) with SME Rating Agency of India 
Punjab National Bank, a leading public sector lender, has decided to reduce the Benchmark Prime Lending Rate (BPLR) by 50 bps from 14% to 13.50% w. e. f. November 01, 2008. 
