Frankfurt - Germany's second biggest bank, Commerzbank AG, reported Wednesday a higher-than-forecast 6.4-per-cent rise in second-quarter net profit despite fresh write-downs resulting from the global financial crisis.

The Frankfurt-based bank said the rise in net quarterly profit to 817 million euros (1.3 billion dollars) was helped along by a tax gain.

However, the bank, which has been weighing up a merger with cross- town rival Dresdner, also went on to warn that tough market conditions could make mean that 2008 earnings could come in lower than last year.

Karvy Stock Broking Limited has maintained ‘Buy’ rating on ICICI Bank stock with an in

London - Britain's Northern Rock mortgage lender, which was nationalized in the wake if the credit crisis, reported losses of 585 million pounds (1.17 billion dollars) Tuesday for the first six months of 2008.

The Newcastle-based bank, which was taken under "temporary" government control in February, said most of the loss came from the charges it took to cover losses from struggling mortgage borrowers.

However, Northern Rock also paid back a loan of 9.4 billion pounds from the Bank of England, reducing the amount owed to 17.5 billion pounds. The figures published Tuesday relate to the period from January up to the end of June.

Country's leading credit rating agency ICRA Limited (ICRA) has informed that it has signed MOU with Canara Bank.

London  - Britain's HSBC bank Monday reported a 28-per-cent drop in pre-tax half-yearly profits to 10.2 billion dollars (5.2 billion pounds) as a result of the "toughest conditions in financial markets for decades."

The leading international bank said it saw profits drop 3.9 billion dollars in the first six months up to the end of June, as its North American arm reported a loss of 2.8 billion dollars.

London - Britain's HSBC bank Monday reported a 28-per-cent drop in pre-tax half-yearly profits to 10.2 billion dollars (5.2 billion pounds) as a result of the "toughest conditions in financial mar