India

Power Finance Corporation is actively seeking a role in the booming banking sector of India. It is in the process of appointing a consultant to guide the company through the entire process.

PNB is keen on investing in an insurance company which would offer higher stake at an attractive price.

Hatton National Bank will open Sri Lanka's country’s first green bank branch in Nittambuwa on June 2.

A meeting of the NRB Board of Directors on Tuesday recommended action against the former Gurkha Development Bank officials, employees and creditors as per the Banking Offense Act.

The lender sees M&A financing as a huge area of growth despite being a highly competitive product.

The Bank of Ceylon is to spread globally first into the 27 member European Union, then North America, Australia, New Zealand, Japan, Hong Kong and Singapore.

Bank of Ceylon's March 2011 quarter net profit shot up 163.1 percent to almost 2.2 billion rupees from a year ago.

 Sri Lanka's National Development Bank group's net profit for the first quarter doubled to 605 million rupees from a year ago. 

The bond offering had an order book of US$2.7bn with interest from more than 220 investors.

The huge drop resulted from tax expenses and provisions, which surged as it ended “teaser loan” program that charged borrowers below-market rates in the initial years.

The lender joined forces with Belgium’s KBC Asset Management to form Union KBC Asset Management Company amidst crowded mutual fund market.

The Swiss lender is serious in its expansion in the country despite being a crowded market in serving millionaires.

Despite rising interest rates in India, the bank’s 2011 credit growth is estimated to be 20%.

Allahabad Bank's net profit increased to Rs.258 crore for the quarter ended March 2011 as against Rs.225 crore in the corresponding quarter last year. This represents a year-on-year growth of 14.74 per cent.

Indian government seeks support from banks for the growth of the sector.

A study revealed that state-run banks would need 500,000 employees over the next 10 years to maintain their competitive edge.