Interest income increased to Rs 725.41 crore compared to Rs 575 crore in the previous year, while non-performing assets as a percentage of total advances stood at 0.17 per cent from zero.

The bank's interest income as a percentage to working funds (WF) stood at 12.07 per cent as against the 1996-97 figure of 13.15 per cent, with non-interest income as percentage of WF at 2.57 per cent, up from 2.12 per cent in the previous year. Operating profit to WF stood at 4.94 per cent compared to 5.09 per cent. Return on assets improved to 2.95 per cent from 2.16 per cent.

Business (deposits plus advances) per employee stood at Rs 9.9 crore as against the 1996-97 figure of Rs 8.60 crore, while profit per employee improved to 25.91 lakh from Rs 15.43lakh.

At end-March'98, deposits were at Rs 3,860 crore, up from the Rs 3,159 crore in 1996-97, while advances during the period increased to Rs 3,844 crore from Rs 2,942 crore.

During 1997-98, the bank did particularly well in corporate banking and cross-border activities. Pioneering deals included that of placing a $283-million loan in the international markets for the greenfield Birla-AT&T and a $75-million loan for Tata Bell Canada. The bank's future plans include a credit card launch.