Thursday, Jul 17, 2003
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By Our Corporate Reporter
Total income has risen by 19.8 per cent to Rs. 365.86 crores from Rs. 305.45 crores. The operating profit shot up by 94.8 per cent to Rs. 111.65 crores from Rs. 57.32 crores, says a bank release. Despite falling interest rates, total income from advances has improved to Rs. 175.52 crores from Rs. 165.87 crores. The cost of deposits has dropped further to 6.74 per cent from 7.63 per cent. Total deposits have risen by 20.7 per cent to Rs. 10,960 crores and advances by 27.2 per cent to Rs. 6,267 crores. Net NPAs have declined further to Rs. 280.04 crores at the end of the first quarter from Rs. 307.81 crores in March 31, 2003, thereby bringing down the percentage of NPA to net advances to 4.47 per cent from 4.95 per cent. The capital adequacy of the bank has also improved to 11.85 per cent from 11.23 per cent.
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