Flexcube success drives up i-flex solutions

Dalal Street Spikes

 The counter hit a high after UFJ Bank is reported to have selected Flexcube to run its global banking operations.

 According to market reports, Flexcube will be deployed across 25 locations of UFJ Bank, Japan, and its subsidiaries across 16 countries in Asia, Europe and the US.

 Flexcube is an end-to-end product suite for consumer, corporate, investment and Internet banking, asset management and investor servicing.

 For the first quarter ended 30 June 2003 (on a consolidated basis), the company recorded a 37.4 per cent rise in net profit at Rs 38.67 crore (Rs 28.15 crore), on a 42.4 per cent increase in net sales at Rs 186.4 crore (Rs 130.89 crore).