10
Monday
December 2018
7:50 AM IST
News Headlines
Kohli booed by Australian fans, Head, Ponting critical of crowd behaviour        Pujara, Rahane put India in driver's seat        Prabhu links creativity & business opportunities to cheap beverages in Goa        Merkel gets boost with ally's party win        Rouhani warns weakened Iran less able to fight trafficking        More than 225 terrorists killed in J&K so far this year: Army        Glad key people shedding fear, breaking silence on govt decisions: Chidambaram        Modi used surgical strikes for 'political capital': Rahul        Krishnamurthy Subramanian appointed as Chief Economic Advisor for 3 years        Indian Super League: Kerala Blasters' Hopes Hanging By A Thread After Defeat Against Pune City        31st GST Council to meet on Dec 22 in Delhi        Trump may nominate Heather Nauert as UN Ambassador: Reports        Qatar injects more cash into Gaza for Hamas employees        TN Governor meets Modi, discusses issues of state        Rajasthan records 74 per cent turnout        Start is Good, Need to Carry Momentum in World Cup: Sardar Singh        Man Utd fight back again but Arsenal extend unbeaten run in four-goal thriller        Cabinet Approves Policy to Double Farm Exports to $60 Billion by 2022        Singer Mika Singh Detained in Dubai for Sending Obscene Messages to 17-year-old: Reports        Conditions Met for Assange to Leave Embassy in London, Says Ecuador President        
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Business News
Catholic Syrian Bank expects to raise funds by December
 
(Chennai, Oct 23, 2017):Kerala-based Catholic Syrian Bank (CSB) hopes to conclude its fundraising exercise by December.

T S Anantharaman, chairman, said the second half of the exercise would be concluded by then. CSB needs Rs 400-600 crore. Sources say SSG Capital Management, InCred Finance, Aion Capital, JM Financial and Everstone-backed IndoStar Capital are among the investors which have shown interest.

R Rajendran, managing director of CSB, say that 25-30 investors had shown interest and three-odd rounds of discussion were over. He said: “We have told the Reserve Bank that CSB will be listed in the next one and a half years.”


CSB had a net loss of Rs 149 crore in 2015-16 and then turned around in 2016-17, with net profit of Rs 1.6 crore, on the back of treasury gains. Anatharaman said the challenge was to have growth in operating profit this year without the benefit of treasury gain. The operating profit was Rs 9 crore in the first, June, quarter and Rs 34 crore in the September one. Net loss was Rs 14 crore in the first quarter; the next one saw a profit of nearly Rs 1 crore.

The aim in the financial year’s second half was to make up for the June quarter’s loss and register a decent profit overall, said Anatharaman.

Rajendran said they were targeting a credit to deposit ratio of 75 per cent by year-end, from 52 per cent now. The cost to income ratio would be brought down to 50 per cent from the current 75 per cent; it was 103 per cent last year.

It has set a target to grow three per cent more than the sector average in both advances and deposits in 2018-19.

During the half year ended September 30 , advances grew Rs 1,240 crore to Rs 9,585 crore. Gross and net non-performing asset ratios had come down to 6.75 per cent and 4.73 per cent, respectively, as on end-September. Gross and Net NPA figures were Rs 624 crore and Rs 428 crore, respectively.


Prabhu links creativity & business opportunities to cheap beverages in Goa
31st GST Council to meet on Dec 22 in Delhi
Cabinet Approves Policy to Double Farm Exports to $60 Billion by 2022
RBI keeps key rates unchanged
NTPC wins 85 MW solar capacity in UP Govt tender
Maintain status on currency management, HC tells SBI
Amway India enters herbal skincare space
New 2018 Maruti Suzuki Ertiga Launched In India, Prices Start At ? 7.44 lakh
Centre's New Move May Escalate Feud With RBI Ahead Of Board Meet: Report
Air India eyes Rs 800 cr from sale of over 70 properties
Intel India opens design house costing Rs 1,100 cr at B'luru
Sensex rebounds 332 pts on easing crude, rupee gains
Govt mulls second round of 2,500 MW medium-term PPA auction
India invites Swedish companies to explore investment opportunities
Govt cancels ED officer Rajeshwar Singh's leave
Facebook blocks 115 accounts ahead of US midterm elections
Indian norms on PCA, capital are conservative, rule-based: SBI
SBI back in black on credit growth
TN transport employees threaten to go on strike
Ease of biz ranking: Indian can improve further, says Jaitley
KERALA NEWS
Activist Rehana Fathima, Who Attempted Sabarimala Trek, Arrested Over Facebook Post
 (Kochi, Nov 28, 2018): Model and activist Rehana Fathima, who tried to reach Kerala's Sabarim  
Good news for Keralite Nurses: IELTS cut-off reduced to 6.5
BJP leader K Surendran, 71 others granted bail
Sabarimala protests: Arrests up to 2061, Kerala HC warns police
INTERNATIONAL NEWS
Merkel gets boost with ally's party win
 Hamburg, Dec 8 (AFP) The victory in a party leadership battle of a close ally of Angela Merkel great
Rouhani warns weakened Iran less able to fight trafficking
Trump may nominate Heather Nauert as UN Ambassador: Reports
Qatar injects more cash into Gaza for Hamas employees
NATIONAL NEWS
More than 225 terrorists killed in J&K so far this year: Army
 Kapurthala (Punjab), Dec 8 (PTI) More than 225 terrorists have been killed in Jammu and Kashmir so f
Glad key people shedding fear, breaking silence on govt decisions: Chidambaram
Krishnamurthy Subramanian appointed as Chief Economic Advisor for 3 years
TN Governor meets Modi, discusses issues of state
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