Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
20 November, 2018 18:43 IST
Indian Overseas Bank update on Hong Kong Branch
Source: IRIS | 13 Jun, 2018, 10.37AM
Comments  |  Post Comment

Indian Overseas Bank (IOB) announced that in view of the capital position of the Bank as at 31 March 2018 being below the requirement (including countercyclical buffer) of the Reserve Bank of India, Hong Kong Monetary Authority (HKMA) is enhancing the supervisory arrangements on the bank's Hong Kong Branch (IOBHK).

Accordingly, IOBHK is required:

(i) to maintain high quality liquid assets (HQLA) in Hong Kong equivalent to 100% of unpledged deposits.

(ii) Not to proactively solicit customer deposits while transactional deposits such as pledged deposits for commercial loans can be accepted in normal course.

(iii)To maintain a position of "net due to" its head office, other branches and any direct or indirect subsidiaries and associates of the bank.

Shares of the bank declined Rs 0.05, or 0.31%, to trade at Rs 16.00. The total volume of shares traded was 12,632 at the BSE (10.23 a.m., Wednesday).





Indian Overseas Bank   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Company Update
Gayatri Projects declared as lowest bidder for project worth Rs 1.62 bn - 20-Nov-2018 14:55
Ramco Systems wins contract from leading casino and resorts provider - 20-Nov-2018 14:52
Zydus Cadila receives tentative approval for Deferasirox tablets - 20-Nov-2018 14:49
Kridhan Infra arm wins orders worth Rs 1.95 bn - 20-Nov-2018 09:35
Glenmark Pharma receives approval for Azelaic acid gel - 20-Nov-2018 09:31
TCS partners with SAP to build intelligent rail digital maintenance solution - 20-Nov-2018 09:27
Vikas Ecotech to explore strategic inorganic growth opportunity - 19-Nov-2018 09:54
Zydus receives final approval from USFDA for Abacavir & Lamivudine Tablets and Fondaparinux Sodium Injection - 19-Nov-2018 09:51
Infosys starts construction of U.S education center in Indianapolis - 19-Nov-2018 09:41
Infosys completes formation of JV with Temasek - 19-Nov-2018 09:37
SPML Infra wins arbitration award against Jharkhand Urja Utpadan Nigam - 19-Nov-2018 09:34
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer