Central Bank, Bajaj Finance partners for retail and SME lending

State-run lender Central Bank of India and Bajaj Finance Ltd said it signed an alliance to co-finance retail and small and medium enterprises (SME) loans. Bajaj Finserv has estimated the co-financing could go up to Rs1,000 crore over the next 18 months.

As per the tie-up, the assets would be partially assigned to Central Bank of India on a periodic basis and the administration and servicing of these loans would be managed by Bajaj Finance.

On Friday, Central Bank shares gained 1.8% to Rs228 while Bajaj Finance shares ended flat at Rs770 on the Bombay Stock Exchange. The benchmark Sensex declined 0.5% to 20,165 points.
 

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NIIT Q2 net profit up 9% to Rs28.5 crore

IT training services provider NIIT Ltd reported about 9% growth in its consolidated net profit at Rs28.5 crore for the quarter ended 30 September.

The company had registered a net profit of Rs26.2 crore during the same quarter in the previous fiscal.

However, its revenue dipped by 4% to Rs345.8 crore in the July-September quarter as against Rs359.8 crore in the same period last year.

On Friday, NIIT shares ended 1.9% up at Rs68 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.5% to 20,165 points.

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South Indian Bank Q2 reports net profit of Rs77 crore vs Rs72.6 crore

South Indian Bank Ltd said it has recorded net profit of Rs77 crore in the second quarter ended September 2010, as against Rs72.6 crore in the year-ago period.

During the second quarter to end-September, the lender's total revenues increased to  Rs624.4 crore from Rs534.4 crore last year.

On Friday, South Indian Bank shares gained 0.4% to Rs27 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.5% to 20,165 points.
 

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