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Bank of India Q1 net plunges 84pc; bad loans zoom MUMBAI: Bank of India, the nation's third-biggest state-run lender by assets, reported a sharply bigger-than-expected 84 percent fall in quarterly profit as bad loans surged.Net profit fell to 1.3 billion rupees ($20.3 million) for its fiscal first quarter to June 30, from 8.06 billion rupees reported a year earlier, the Mumbai-based lender said. Analysts on average had expected a net profit of 3.31 billion rupees, according to data compiled by Thomson Reuters.Gross bad loans as a percentage of total loans rose to 6.8 percent in the June quarter from 5.39 percent in the previous three months and 3.28 percent a year earlier.Copyright Reuters, 2015


BP falls into Q2 loss on oil spill charge, price slump LONDON: BP said Tuesday it sank into the red in the second quarter, after taking a vast $10.8-billion (9.8-billion-euro) hit on costs linked to the deadly 2010 Gulf of Mexico oil spill.The British energy giant's performance also took a heavy knock from slumping global oil prices.Losses after taxation stood at $5.82 billion (5.26 billion euros) between April and June, BP said in a results statement. That contrasted with net profit of $3.37 billion in the ...

Toyota falls behind VW in world's biggest automaker race TOKYO: Toyota has fallen behind Volkswagen in the race for the world's biggest automaker title, figures showed Tuesday, as the German giant outsold its Japanese rival in the first half of the year.Toyota said it sold 5.02 million vehicles worldwide between January and June, falling below earlier figures from Volkswagen of 5.04 million units shifted in the same period.US-based General Motors was sitting in third spot with 4.86 million in sales.Camry and Prius maker Toyota ...

Android flaw lets hackers break in with a text message SAN FRANCISCO: Cyber security firm Zimperium warned of a flaw in the world's most popular smartphone operating system that lets hackers take control with a text message."Attackers only need your mobile number, using which they can remotely execute code via a specially crafted media file delivered via MMS (text message)," Zimperium Mobile Security said in a blog post."A fully weaponized successful attack could even delete the message before you see it. You will only see ...

China's Baidu shares dive on earnings miss SAN FRANCISCO: Baidu shares skidded Monday after the Chinese Internet colossus reported earnings shy of most market expectations.Baidu's profit for the second quarter was 3.66 billion yuan ($591 million), up slightly from 3.55 billion yuan in the same quarter a year earlier.Sometimes referred to as the Chinese answer to Google, Baidu reported revenues rose 38 percent from a year earlier to 16.57 billion yuan.But the results were below market forecasts, and Baidu shares tumbled 8.69 ...

Fiat Chrysler could spend billions to buy back unrepaired trucks DETROIT: Fiat Chrysler Automobiles could pay billions of dollars to buy back defective trucks as part of a settlement with US safety regulators, but has the option to recover costs by reselling vehicles once they are repaired. The auto safety watchdog on Sunday slapped the Italian-American automaker with a $105 million fine - the largest ever levied by US regulators against a carmaker - over lapses in safety recalls involving millions of vehicles. FCA said ...

Standard Chartered named Best Foreign Bank in Pakistan KARACHI: The Standard Chartered has won the "Best Foreign Bank in Pakistan" award for 2015 by Finance Asia.This award is in recognition of Standard Chartered's superior product structuring and distribution capabilities, and reinforces the Bank's dominant leadership position in Pakistan, said a press release issued here Monday.It said that the last decade has seen Standard Chartered transform itself in Pakistan and become an integral part of the social and economic fabric of the country.With a ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln