India

Federal Bank has reported a net profit of Rs.190.35 crore for the first quarter ended June 30, 2012, against Rs.146.16 crore in the year-ago period, an increase of 30 per cent.

Bank of India will increase its retail and SME business up to 50 percent of its total.

City Union Bank’s first quarter net profit increased by 26.3 per cent at Rs. 73.89 crore from Rs. 58.51 crore the previous year.

Allahabad Bank reported a more than expected 23% net profit growth due to a Rs 120-crore cash recovery.

Bank of India is mandating a seven-bank group for a $175m two-year loan.

HSBC’s admission to money laundering for criminal syndicates compels regulators from both countries to exchange more information.

India’s YES Bank and Japan's Shinsei Bank enter into a comprehensive business alliance.

A low risk strategy enables India’s ICICI Bank to post a net profit of US$327 million in the first quarter.

Higher provisioning for bad loans pulled Punjab & Sind Bank'snet profit by 62.5 percent at Rs 24.03 crore for the first quarter ended June 2012.

Bank Negara Indonesia plans to sell Rp 1.2 trillion or $126 million of recapitalized bonds to finance the acquisition of Bahana Securities.

HDFC recorded 25 percent rise in consolidated net profit at Rs 1,275.86 crore for the first quarter ended June 30, 2012.

State Bank of India's asset quality has improved from last year, according to Chairman Pratip Chaudhuri.

UK's Financial Services Authority and the Reserve Bank of India mutually assist and exchange information in supervision of banks operating in both the countries.

Indian banks are in for lower asset quality and weaker earnings in the next two years.

HSBC is in the final stages of acquiring the bulk of the Royal Bank of Scotland's Indian business. HSBC expects the Reserve Bank of India, the central bank, to approve the takeover within the next two weeks. Both banks are expected to confirm the approval in separate statements. HSBC will then take ownership of most of RBS's 30 branches in India. The deal, first announced in 2010, is likely to see HSBC pay some US$109 million for RBS' business, which also includes RBS's commercial banking operations in India. The sale is part of RBS' ongoing efforts to reduce its international business to comply with tougher banking rules in the Eurozone. RBS, however, will retain an investment banking presence in India.

India's state-run banks has been directed by the Finance Ministry to assess capital requirements, including investments in JVs or subsidiaries.