VIJAYA BANK HALF YEARLY RESULTS ENDING 30.09.2010


Net profit up by 33% to Rs.144.30 crores.

Operating Profit up by 26.46%.

Net interest Income up by 33.56%.

Net Interest margin at 3.16%.

Return on assets at 0.81%.
Gross NPA is at 2.44% and Net NPA is at 1.32%
Capital adequacy ratio is at 14.25% (Basel-II)

Vijaya Bank is on steady growth path and its aggregate business is at Rs.1,02,473 crores. Deposits at Rs.62,668 crores and Advances at Rs.39,805 crores.


Addressing the media,Mr.Albert Tauro,Chairman and Managing Director of the bank said that," Improved margins were mainly as a result of higher yield on advances(10.20%) and lower cost of deposits (5.64%)".

The bank has a network of 1173 branches and 481 ATM's under 100%CBS set up.


Guidance for March,2011.

A business level of rs.1,26,000 crores envisaging 205 growth. Containment of gross NPA within 2% and net NPA within 1%.

Opening of 100 additional branches and 250 additional ATM's.

Ms.Subhalakshmi Panse,Executive Director of the bank was also present in the Press meet.

PHILIPS ANNOUNCES LED BULB RANGE FOR INDIAN HOUSE HOLDS.

Light Emitting Diode(LED) is a revolutionary technology and has completely transformed the lighting industry in India.The 5 W retrofit LED bulb is priced at Rs.649\-.The company claims that the life of the bulb is over 15 years and there is 80% energy savings vis-a-vis incandescent bulbs.

NCDEX NON AGRI VOLUMES ON THE UPSWING WITH INCREASING TRADE IN STEEL AND CRUDE.

NCDEX is an online national level commodity exchange established on April,23,2003 and commenced operations on December,15,2003. It offers futures trading in 47 commodities in agriculture,energy,metals,plastics and carbon credits.

NCDEX -India's leading agri-commodity exchange having established a reputation in agricultural commodities with over 85% market share has recentlt seen increase in the average daily Trading Volume of non agricultural commodities.NCDEX annual turnover crossed Rs.5,00,000 crore mark recently, a 29% increase over the last year.

Mr.Ramaseshan,MD &CEO said," Commodity future markets has been growing impressively and this is evident from the fact that the total traded value in metals(other than bullion) has grown by 72% while the trade in energy has grown by 25%."

Speaking in the Press meet,Mr.Vijay kumar,CFO NCDEX said," Having made a modest start of 29,500 barrels a day of trading, the contract has in the recent times has seen daily trading volumes in excess of 1.5 million barrels.This is a testament to the relevance of this contract to the indian market,which can be attributed to its alignment with the International market along other factors."

FORTIS HOSPITALS BANGALORE LAUNCHES A COMPREHENSIVE CENTRE FOR DIAGNOSING AND TREATING HEART RHYTHM DISORDER.

In an effort to expand the excellence in heart care and to offer better understanding,diagnosis and treatment to people with heart rhythm disorder,Fortis Hospitals adds a new dimension to its heart care programme by launching the Arrhythmia clinic- a comprehensive centre to treat heart rhythm disorders.

"While there is tremendous awareness around hearts blocks and other cardiac conditions,not much is known around electrical imbalances," says Dr.Lloyd Nazareth ,COO,Fortis Hospitals.