The bank's total income for the half year ended 2000 has increased by 72 per cent to Rs 438.04 crore (Rs 255.36 crore) while interest income went up by 72 per cent to Rs 379.42 crore (Rs 221.09 crore). Other income went up by 71 per cent to Rs 58.62 (Rs 34.27 crore).

Said UTI Bank in a press release issued in Mumbai on Wednesday: "The growth is due to the bank's emphasis on fee-based income apart from income derived from traditional banking activities. Operating expenses have gone up by approximately 81 per cent mainly on account of investment in infrastructure, technology and staff costs, which are expected to drive future profits." The bank's low-cost savings deposits recorded a growth of 102 per cent to Rs 398 crore (Rs 197 crore). Total deposits have grown by 136 per cent to Rs 7,949 crore (Rs 3,363 crore).

UTI Bank's half-yearly balance sheet shows a 81 per cent growth in advances to Rs 4,062 crore (Rs 2,250 crore). "The results are a reflection of the bank's sharper retail focus through a wider branch and ATM network. The bank's branches have grown to 61 branches from 38 branches and to 148 ATMs from 49 ATMs as on September 30, 2000," the bank's release said. UTI bank has also set up 'financial advisory desks' (FADs) in all its branches to market mutual funds. The bank is also preparing itself to market insurance schemes - both life and non-life - through FADs. The bank claims that it has built up expertise in offering `cash management services' (CMS) by managing over Rs 20,000 crore of funds during the last financial year.