Bank of Madura has shown a marginal increase in its bottomline for the first quarter of 1998-99. The bank's net profit has improved to Rs 11.40 crore compared with Rs 11.27 crore in the corresponding period of the previous year. For the year 1997-98, the bank had made a net profit of Rs 34.19 crore. The net interest income rose by 5.64 per cent to Rs 26.61 crore (Rs 25.19 crore) while the other income was Rs 20.98 crore (Rs 18.38 crore). Dena Bank appoints new executive director: Romesh Lal has been appointed as the executive director of Dena Bank by the Government of India with effect from July 25, 1998. Before this assignment, he was serving as general manager in Punjab National Bank. He joined the banking sector as a probationary officer in 1963.

Crisil reaffirms Bajaj Auto Finance rating: Crisil has reaffirmed the FAAA rating assigned to Bajaj Auto Finance Ltd on account of the company's strong market position in the two-wheeler financingbusiness, comfortable asset quality, strong financial position and favourable capital structure, a Crisil release stated. Meanwhile, Crisil has assigned a P1 rating to the Rs 6-crore commercial paper programme of Ralson (India) Ltd. The rating reflects the company's strong market position in bicycle tyres and tubes, consistent turnover growth, steady cash accruals and favourable capital structure, the release stated.

Central Bank revises FCNR(B) rates: The Central Bank of India on Monday announced the revision of its FCNR(B) deposit rates with effect from July 18, 1998. The interest rates on US dollar term deposits have been fixed at 5.25 per cent for six months to less than one-year, 5.50 per cent for one year to less than two years, 5.75 per cent for two years to less than three years and 6 per cent for three years. There has been no change in the duestche mark and yen FCNR(B) deposit rates. United Western Bank net rises to Rs 10 crore: The Maharashtra-based United Western Bank has recorded a 30per cent increase in its net profit to Rs 9.62 crore during the first quarter of 1998-99. The bank's earning per share is at Rs 12.87 while book value excluding revaluation reserves is at Rs 50.89. Pre-tax yield on investment was 12.44 per cent, whereas return on average assets was 1.33 per cent. For this quarter, the bank is opening two branches near Jalgaon and two in Mumbai at Nalasopara and Badlapur, taking the total to 211.

ICICI Bank opens new branch at Thane: ICICI Bank opened its 35th branch at Thane, in Mumbai, on Monday. The branch has an ATM facility and will provide ATM cards free of charge for its savings account-holders. The account-holders can access the account from any of the bank's ATM centers across the country. The Thane branch is the bank's 13th office in Mumbai.

CARE assigns PR1+ rating to IndusInd Bank debt: CARE has accorded the highest safety rating of PR1+ to the certificates of deposit programme of IndusInd Bank. The rating is retained by the bank for the fourthconsecutive year.