Category: BENCHMARK

  • CSB Bank reports highest-ever profit for FY22 at Rs458.5cr

    CSB Bank reports highest-ever profit for FY22 at Rs458.5cr

    By CL Jose Lending in Kerala continues to be low despite RBI reminders KOCHI/May 06-2022: The Thrissur-based CSB Bank has announced its highest ever full-year net profit at Rs458.49 crore for the financial year closing on March 31, 2022 (FY22), effectively more than doubling the profit of Rs218.40 crore the bank reported for the previous […]

  • Federal Bank reports highest ever quarterly profit at Rs541 cr

    Federal Bank reports highest ever quarterly profit at Rs541 cr

     BBN Bureau  Proposes Rs1.80 cash dividend against each Rs2 share KOCHI/May 06-2022: Federal Bank, the largest Kerala-incorporated bank, has reported a 13.18 per cent year-on-year growth in its fourth quarter (Q4) net profit from Rs478 crore to Rs541 crore as the financial years closed on March 31, 2022. This is considered the largest ever quarterly […]

  • Kerala soft-pedalling borrowing on hopes of larger Central devolution?

    Kerala soft-pedalling borrowing on hopes of larger Central devolution?

    By CL Jose Sidesteps April 11 borrowing of Rs1000 cr THIRUVANANTHAPURAM/May 05-2022: Kerala may elect to kick the proverbial ‘market borrowings’ can further down the road on hopes of increased tax devolution from the Centre in the current financial year. As in the early quarters of last financial year, the state looks soft-pedalling borrowing this […]

  • Uralungal: Why profit too low despite large revenue?

    Uralungal: Why profit too low despite large revenue?

    By CL Jose FY21 profit just around Rs2 crore;  ‘Kerala Govt owns 80 pc in Uralungal’ KOCHI/May02-2022: The net profit of the storied Uralungal Labour Contract Cooperative Society Ltd (ULCCS) for 2020-21 (FY21) was just around Rs2 crore. The previous three years were also no different with the net profit ranging between Rs2-3.6 crore. Uralungal […]

  • Anathalavattam calls for rationalisation of state PSU salaries

    Anathalavattam calls for rationalisation of state PSU salaries

    By CL Jose Severe imbalance within state entities’ salary structure THIRUVANANTHAPURAM/April 27-2022: There exists stark imbalance within the remuneration structure of public sector entities in the state with selected entities or departments run by the same state government pay their employees multiple times that of their counterparts elsewhere under the same system. In the case […]

  • Tata Power setting up huge renewable energy platform

    Tata Power setting up huge renewable energy platform

    BBN Bureau To rope in BackRock and Mubadala; Rs4000 cr to be raised MUMBAI/April 14-2022: The Tata Power Company Ltd and BlackRock Real Assets-led consortium, including Mubadala Investment Company, have entered into a binding agreement to invest in Tata Power’s renewable energy subsidiary, Tata Power Renewable Energy Ltd. BlackRock Real Assets, together with Mubadala, shall […]

  • ‘Kerala Bank’s ‘bad loans’ unsustainable at 30 pc’

    ‘Kerala Bank’s ‘bad loans’ unsustainable at 30 pc’

    By CL Jose Bank sits on abysmally low CASA below 10 pc KOCHI/April 12-2022: The latest selected statistics available on Kerala Bank show that close to one-third or 30 per cent of its loans have turned bad or NPAs as on December 31, 2021, according to data provided by SLBC. The extent of provisioning required […]

  • RBI holds repo rate at 4 pc, reverse repo at 3.35 pc for 11th round

    RBI holds repo rate at 4 pc, reverse repo at 3.35 pc for 11th round

    BBN Bureau RBI projects GDP growth at 7.2 pc for 2022-2023 MUMBAI/April 08-2022: Without springing much surprise, the Reserve Bank of India (RBI) on Friday said it retained both the key policy rates, repo rate and reverse repo rate at 4 per cent and 3.35 per cent respectively, for the 11th round in a row. […]

  • KSEBL set to shed tag of ‘perennial loss maker’; to report profit for FY22

    KSEBL set to shed tag of ‘perennial loss maker’; to report profit for FY22

    By CL Jose Employee cost nosedives by Rs1893.81cr in Fy22! THIRUVANANTHAPURAM April 06-2022: The state’s sole power distributor, KSEBL, is set to pull off a coup! Kerala State Electricity Board Ltd (KSEBL) is expected to announce its maiden annual profit ever since its establishment as a company in 2013 with three strategic units under it. […]

  • Kerala aims to raise Rs9000 cr from market during Q1

    Kerala aims to raise Rs9000 cr from market during Q1

    By CL Jose ‘State may fail to contain deficits at budgeted levels’ THIRUVANANTHAPURAM/April 06-2022: Kerala is poised to borrow Rs9000 crore from the market during the first quarter, April-June period, as per the weekly schedule for borrowing released by the Reserve Bank of India (RBI). The aggregate market borrowings by all State governments and Union […]