Stockholm - Swedish banking group Swedbank on Monday said it planned to raise 12.4 billion kronor (1.51 billion dollars) by issuing new shares.

Swedbank is one of Sweden's four major banking groups. In recent weeks, Swedbank has been in the sights of analysts over its presence in the Baltic region where economic growth has slowed to standstill and fears of loan losses have increased.

According to the bank, existing shareholders including insurance and savings group Folksam, savings bank foundations, over 60 savings banks, as well as the Swedish national pension funds AP1 and AP2 had underwritten 100 per cent of the issue.

The new issue was pending approval at an extraordinary general meeting due November 25.

State Bank of India (SBI), India's largest commercial bank has signed a Joint Venture pact with Macquarie Group and International Finance Corporation (IFC).

Under the arrangement, both foreign partners will help the lender in the set up and management of an Infrastructure Private Equity Fund for investing in Indian Infrastructure projects and Companies. 

However, the fund will be operational on receipt of requisite regulatory approvals. The JV agreement is based on the earlier MOU signed on April 16, 2008. 

Country's leading credit rating agency ICRA Limited (ICRA) has signed a Memorandum of Understanding (MoU) with Andhra Bank.

Under the arrangement, ICRA will assign Bank Loan ratings to the Bank's loans and its other exposures under the standardized approach of RBI's New Capital Adequacy Framework for Basel-II. 

ICRA's ratings for the standardized approach would be carried out under its "Line of Credit" rating service and would enable Andhra Bank to assign the new risk weights applicable to its borrowers under Basel-II. 

IndusInd Bank, a Mumbai based new generation bank, has signed a co-partner pact with the World Gold Council (WGC) for joint promotion of packaged and certified gold coins and ingots in India. 

The lender stated in a release that, it has introduced sale of imported 24 carat pure Swiss Gold with a view to providing complete financial and investment solutions to its customers and non-customers, under the brand name “Suvarna Mudra. 

The gold coins are available in denominations of 5gm, 10gm and 50gm across all 180 branches of the Bank.

Public sector lender Dena Bank has revealed its plans to launch co-branded credit cards in coming months.

According to sources, Dena Bank's credit card would be launched in association with State Bank of India (SBI).

Besides launching credit cards, Dena Bank also plans to open 26 new branches and 12 retail assets centers during the current fiscal, besides 108 off-site ATMs.

Dena Bank’s net profit for the second quarter ended September 30 grew 11.6% at Rs 102.8 crore over the Rs 92.15 crore in the corresponding period a year ago.