Page 5 - Banking Finance AUGUST 2015
P. 5
BANK UPDATE
BANKING
Bank of China likely to Co-op banks need to be professional : R Gandhi
open its first branch in
Mumbai Recently RBI Deputy Governor R. posed by the newer entrants - the
Gandhi while ad- small finance banks.
National Secretary Advisor (NSA) Ajit dressing the silver
Doval, has jubilee celebra- Gandhi said that the co-operative bank-
given the se- tions of the Na- ing sector in the country has not been
curity clear- tional Institute for able to utilize its full potential due to
ance for Rural Banking in lack of professionalism, corporate gov-
opening of Bengaluru, insisted ernance and reluctance to adopt tech-
nology. Though there are a large num-
the Bank of China's first branch in co-operative banks and regional rural ber of co-operative banks, their share
Mumbai and has conveyed this to banks to adopt technology, focus on in the Indian banking sector is not more
Maharashtra CM Devendra corporate governance and imbibe pro- than 5 per cent, he added.
Fadnavis. fessionalism to face the challenges
Fadnavis's recent trip with PM to Canara Bank profit rises by 60%, Central Bank by 61.3%
China, where he aggressively
pushed for Chinese investments in Canara Bank's net profit for third quar- Mumbai based Central Bank of India's
the state, had a one-on-one meet- ter rose from 60 per cent to Rs.656 net profit jumped more than two-fold
ing with Bank of China chairman crore on tidy earnings
Tian Guoli which led to the develop- from treasury, recover- to Rs.1,377 crore
ments. ies and control on ex- when the quarter
penses. ended in December
Chairman Guoli, though keen to 2014. The lender had
open a branch in Maharashtra, had The Bengaluru-based posted net profit of
raised the issue of security clear- public sector bank Rs.61.5 crore in Q3 of
ance by intelligence wing of the posted 7 per cent FY14. The total in-
country, which he feared, might growth in net interest come increased to
cause problems. Fadnavis is learnt to income at Rs.2,380 crore in the third Rs.7,033 crore from Rs.6,708 crore in
have spoken to Doval who assured quarter. December 2013, recording year-on-
the chief minister that he has no year growth of 4.84 per cent. The
objections to the proposal. Its gross non-performing assets (NPA) bank's interest income grew from 2.68
ratio was at 3.35 per cent and net NPA per cent to Rs.6,524 in the third quar-
ratio was 2.42 per cent. Its capital ad- ter of FY15.
equacy ratio stood at 9.87 per cent.
BANKING FINANCE | AUGUST | 2015 | 5
