Centurion bank of punjab personal loan india

HDFC Bank posted a 44.6% growth in net profit at Rs 464 crore for the quarter ended June 2008. Breaking away from the industry's trend of slower credit growth, the bank has reported an 80% rise in advances.

The figures for the quarter include that of the merged entity Centurion Bank of Punjab (CBoP), which was amalgamated with the bank with effect from April 1. Without the merger, percentage growth in credit would still be in the mid-thirties.

The results are marginally above market expectations. CBoP had reported a net profit of Rs 33 crore in the first quarter of the previous year, while HDFC Bank reported a net profit of Rs 321 crore in June 2007.

According to HDFC Bank executive director Paresh Sukthankar: The core loan growth on a standalone basis for HDFC Bank has been in the mid-30s. Retail loans have seen a growth of around 31%, while corporate loans grew 34-35%. The balance sheet size rose 59.5% to Rs 1,68,598.7 crore. Net advances rose 79.8% to Rs 96,797 crore during the review period. Know more about the updated interest rates and eligibility criteria of hdfc personal loan here with every detailed information.

Centurion was awarded in the category 'Organization with Innovative HR Practices' wherein it showcased its Vision Mission Values cascade program aimed at Culture Amalgamation. This initiative has been clearly useful given the stated and implemented inorganic growth strategy of the bank.

The other category was the 'Young HR Professional of the Year' wherein Ms. Anila Rajneesh, HR Partner won the award against 320 other entries. Ms Anila is an HR professional with 8 years of experience, and has been with Centurion for almost 4 years. As HR partner she designs and helps implement strategic HR initiatives for retail businesses.

On the occasion Ms. Shalaka Gadekar, Head Human Resources, Centurion Bank of Punjab said, " We are delighted that our HR colleagues and one of our HR interventions has received external recognition. We are committed towards making Centurion " A Great place to Work and a Great place to Bank"

About Asia Pacific HRM Congress
Asia Pacific HRM Congress is a unique Annual Human Resource Conference which has been held for the last 16 years, which aims at getting industry wide speakers across the globe on one platform on areas related to Human Resources. It also aims at recognizing Great Human Resource Practices across industries, and outstanding HR professionals who have contributed significantly within and outside their respective organizations. The Jury consisted of eminent senior professionals from the industry.

About Centurion Bank Of Punjab
Centurion Bank of Punjab is one of the leading new generation private sector banks in India. The bank serves individual consumers, small and medium businesses and large corporations with a full range of financial products and services for investing, lending and advice on financial planning. The bank offers its customers an array of wealth management products such as mutual funds and life and general insurance and has established a leadership 'position'. The bank is also a strong player in foreign exchange services, personal loans, mortgages and agricultural loans. Additionally the bank offers a full suite of NRI banking products to overseas Indians.

On 29th August 2007, Centurion Bank of Punjab merged with Lord Krishna Bank (LKB), post obtaining all requisite statutory and regulatory approvals. This merger has further strengthened the geographical reach of the Bank in major towns and cities across the country, especially in the State of Kerala, in addition to its existing dominance in the northern part of the country. Centurion Bank of Punjab is planning to build upon the strong brand attributes of both banks in their respective geographies.

When some urgent need of cash arises for a person, it becomes very trivial for him to arrange finances at a short notice. The situation may get worse the payday is still far. Through personal loans however, the whole process of borrowing urgent money is made fast, easy and convenient for the borrower.

If the borrower is regularly employed since the last 6 months, has a regular residence since the last 3 months, a current account since the last 6 months and is an adult citizen of the UK, then getting approval for these loans is virtually hurdle-free. The money is transferred to the account of the borrower in less than 24 hours of application.

The borrower can take up the money without pledging any collateral with the lender. These loans are borrowed for a very short term by the borrower, till he gets his next paycheck. According to their monthly cash inflow, the borrowers are approved amounts in the range of Rs 20,000-Rs 4oo,ooo for their needs. This depends upon his needs like medical payments, credit card repayments, urgent car or home repairs, grocery or electricity bills etc.

These loans are approved to be borrowed only till the next payday of the borrower. The day the borrower gets his next paycheck, he has to repay the loan to the lender. The term that is available with these loans for repayment is 14-31 days. The repayment is done by the automatic deduction of the amount from his current account.

Rajat K Bose, Technical Analyst is of the view that Centurion Bank of Punjab can cross Rs 60 level. It has performed well and is likely to perform well even in the short-term. Pharma seems to have done well and is showing bottom formation.

Bose told CNBC-TV18, "Today, the banking stocks especially some smaller and midcap banks have done well and pharma seems to have done well. I have seen that pharma is showing bottom formation. One can take a pick there and more or less the pharma stocks are likely to do well." Loan market is very much effected by compare personal loan in India as it is growing competition among various financial banks to high up their loan.

He further added, "I hold Centurion Bank of Punjab from the banks and that has performed well and is likely to perform well even in the short-term maybe tomorrow or day after one will see above Rs 60 levels coming back into this stock."

Non-resident Indians in Canada and United Kingdom can get all information regarding account operations through 'Post Box Service' without incurring any courier charges.

Centurion Bank of Punjab has launched 'Post Box Service' in the two countries for NRI customers who can use the service to send documents, statement and cheque requisition, account instructions, electronic banking application form, mandate application form, change of address form, PIN re-generation, debit card re-issue or any other account operating instructions including FD opening or renewal instruction. Also compare personal loan rates to get more benefits out of your loan.

The service will be provided free of charge, said a press release from the bank. The documents should be sealed thoroughly and sent through ordinary inland postal service in the above countries. New NRI customers can also send account opening form and attested documents.

Centurion Bank of Punjab has plans to expand travel related foreign exchange services in Gujarat. The bank would offer forex services at competitive rates and would also enhance awareness of the customers.

The bank has identified Gujarat as the high growth region and has four foreign exchange services centres. The bank has plans to add more in near future, Sudarshan Motwani, Head Foreign Exchange Services said. He said that with increasing foreign travel, students, immigration etc the market of foreign exchange is growing at a tremendous pace.

Centurion Bank of Punjab offers exciting rates for compare personal loan and it's very easy to repay your loan.

The bank offers services in foreign currency, travelers' cheques, demand drafts, medical services, pre-paid travel cards, travel insurance and others without charging any commission.

The compensation committee of Centurion Bank of Punjab at its meeting held on Oct. 30, 2007 approved the grant of up to 1,50,00,000 stock options to the employees of the Bank under the employee stock option plan 2007.

The bank announced a steady growth in net profit for the quarter ended June 2007. During the quarter, the company experienced a 14.90% rise in profit to Rs 330.10 million from Rs 287.30 million in the same quarter last year.

Interest earned for the quarter rose 75.84% to Rs 4456.00 million compared with the corresponding quarter, a year ago.

Shares of the company closed down Rs 0.65, or 1.5% at Rs 42.65. The total volume of shares traded at the BSE was 876,881 at the BSE. (Tuesday).

The securities transfer, allotment and grievance redressal committee of Centurion Bank of Punjab at its meeting held on Sep. 26, 2007, allotted 122,699,000 equity shares of face value of Re 1 each fully paid up, at an issue price of Rs 40.75 a share to the qualified institutional buyers (QIBs).

The bank reported steady growth in net profit for the quarter ended June 2007. During the quarter, the profit rose 14.90% to Rs 330.10 million from Rs 287.30 million in the corresponding quarter, last year.

Interest earned for the quarter rose 75.84% to Rs 4,456.00 million, compared with the corresponding quarter, a year ago.

Among mid-size private sector banks, Centurion Bank of Punjab (CboP) presents a good investment opportunity for investors with both short and long holding time horizons.

The stock is currently quoting around Rs 45 (face value of Rs 1) and at these levels the valuation is out of tune with multiples for banks in this or other categories.

The latest per share earnings, for instance, is around 85 paise and the book value per share is around Rs 8.

Therefore, the valuation multiples (price-earnings multiple of 60 and price-book value of 6) based on historic earnings are stiff indeed.

The bank seems to have developed a niche in retail lending/distribution of financial products and at the same time has substantially stepped up corporate lending. This overall balancing could stand it in good stead as it seeks to scale up business.

Retail loans (two-wheeler loans, commercial vehicle financing, personal loans, housing loans, etc), which formed as much as 90 per cent of total advances in 2005, have declined to around 70 per cent currently. Corporate loans have increased their share of total advances from 8 per cent to around 30 per cent in the same period.

Centurion Bank of Punjab Ltd has informed the BSE that the Securities Transfer, Allotment and Grievance Redressal Committee of the Board at a meeting on October 9 allotted 5,08,000 equity shares on conversion of warrants.

The warrants were issued in terms of the Scheme of Arrangement among Bank Muscat SAOG, the Bank of Punjab Ltd (formerly known as Centurion Bank Ltd) and shareholders of Centurion Bank of Punjab Ltd pursuant to Sections 391 to 394 of the Companies Act, 19 56, which was duly approved by the shareholders, the High Courts of Mumbai (Goa Bench) and Karnataka as well as by the Reserve Bank of India. - Our Bureau

Centurion Bank of Punjab today launched elite savings accounts to cater to the needs of high net worth individuals and businessmen.

Giving details of the new multi-featured retail product, Puneet Handa, manager priority banking, said that the account would allow the customer to take Rs 1 lakh cash withdrawal from ATM per day, Rs 1 lakh cash withdrawal and deposit at any branch of the bank, no charges on transactions on other bank ATMs, free alerts, free demand drafts, free cheque collection, free fund transfers, personalised cheque book, housing loan, personal loan and credit card.

Zonal head of the bank, Jasmeet Singh, said that the elite account would be opened for all those customers who maintained Rs 1 lakh balance in their account or took Rs 40 lakh housing loan or availed Rs 5 lakh personal loan or got an insurance for Rs 50,000 or took mutual funds from the bank to the tune of Rs 5 lakh.

The Centurion Bank of Punjab will introduce the first- of- its- kind service of acting as a trustee for your moveable and immoveable assets from February, 2007. The bank is also going to start portfolio management service for medium net worth individuals from May, 2007, Mr Harpreet Singh, Business Director, (Wealth Management, Distribution and Loans), told The Tribune here today. The trustee services would be launched first in Mumbai and Delhi and then in other cities, including Ludhiana and Jalandhar in Punjab.

"Portfolio management service will be first launched in Delhi and Bangalore and later in Ludhiana, Mumbai and Kolkata. Instead of targeting only high net worth individuals, we will be serving clients who either have a savings account with Rs 1 lakh with us; Rs 5 lakh of mutual funds; or, having availed a Rs 5 lakh personal loan or a Rs 40 lakh home loan from us," he said. The bank was already offering wealth management (risk profiling and financial needs management service) to its customers.

Centurion Bank has announced two special schemes to the account holders of the Global Trust Bank (GTB). The account holders of GTB can now avail pre-approved personal loan scheme for up to five times their net monthly take-home salary. The demat account holders of GTB will get 50 per cent off on the annual maintenance charges for the first year, on opening a demat account for Centurion Bank.

Mr Anil Jaggia, Chief Operating Officer, said the bank has allowed a three-month moratorium for the loan repayment. This loan would be similar to an overdraft for the first three months since no equated monthly instalments (EMIs) are to be paid.

At the end of three months, the customer can either choose to repay the entire amount or convert it to a personal loan. The interest rate applicable for the first three months would be 12 per cent, thereafter the interest would be charged at 16 per cent, which is the prevailing rate for unsecured personal loans.
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Borrowing money from banks generally became a costly affair in 2006, although higher credit growth, hardening interest rates, deposit mobilisation, consolidation and strikes grabbed newspaper headlines for most part of the year.

Loans for all segments, including home, car, personal consumption and corporates, became costlier by 1-2.5 per cent in 2006 and the upward pressure still continues due to excess demand for credit and higher inflation.Interest rates kept lenders and borrowers on their toes as Reserve Bank raised key short term interest rates four times and Cash Reserve Ratio once to moderate credit growth and contain inflation this year.Hardening of interest rates and low deposit growth pushed deposit rates by 1.5-2.5 per cent to the pleasant surprise of investors, as they could get tax incentives for deposits too.

Banks are now giving 8-9 per cent interest for term deposits even as they try to mop up more resources from savings and current accounts, the cheapest source of funds.Acquisitions and mergers took a new turn this year with three small domestic banks getting merged with larger lenders, while a deal has been signed to buy a foreign bank.