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Briefing
Kotwal is Amex PFC regional head
American Express Bank (AMEX) has appointed Shailesh Kotwal as head of its personal Financial services (PFS) unit for the Asia, Pacific and Sub-continent region based in Singapore. With this appointment, Kotwal would now be responsible for PFS businesses in Hong Kong, India, Indonesia, Singapore and Taiwan as well as the offshore personal banking centre in Singapore, AMEX said in a release in Mumbai on Monday. Kotwal was recently the region head, emerging markets for PFS, responsible for PFS business into new markets.Icra downgrades DCL Finance Credit rating agency
ICRA on Monday downgraded the `MA' rating assigned to the fixed deposit programme of DCL Finance Limited to `MB' indicating adequate safety while it reaffirmed the `MA minus' rating assigned to the fixed deposit programme of Neuland Laboratories Limited (NLL). The rating downgrade factors in the deterioration in the performance of the company and the resultant strain on liquidity, which was expected to continue, an ICRA release said here. Duff & Phelps' rating for Kotak Sec
Duff and Phelps India has assigned an Ind D-1" rating to the Rs 250 million commercial paper programme of Kotak Securities indicating very high certainty of timely payment.The rating also indicate liquidity factors that internal operating factors and access to alternative sources of funds of the company are excellent and supported by good fundamental protection factors with minor risk factors. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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