Jaipur, Feb 13: With a vast network of branches - no less than 600 in Rajasthan alone - the State Bank of Bikaner and Jaipur (SBBJ), an affiliate of the State Bank of India (SBI), is poised to net a handsome profit of Rs 150 crore by the end of the current fiscal as against Rs 120 crore last year. "All my branches, barring ten, are in the black," says the bank managing director Madhukar. In an exclusive interview, Mr Madhkukar told The Financial Express here on Saturday that the dividend payout for the year would be higher compared to 25 per cent in the last financial year gi ven by SBBJ.Mr Madhukar, who joined SBBJ about a year ago from SBI, is confident of achieving new heights for the bank in the next year as his plans to computerise all its operations have now been put in place. "I want SBBJ to emerge very strong when compared with any foreign bank with respect to high-tech services," he said.
SBBJ's total deposits rose to Rs 9,454 crore at the end of last December, with the credit-deposit ration also rising to 55.08 per cent. The CD-ratio of all other associate banks of SBI was 53.16 per cent. "We want to help Rajasthan in any manner by giving liberal financial assistance".
In government securities, SBBJ had made heavy investments. It will also provide additional assistance to farmers for meeting the current drought afflicting the entire state.
In Rajasthan all government transactions are made through SSBJ primarily due to the fact that it has a wide branch network. Even in the remotest parts of the state it has its presence and the services tendered by it are said to be satisfactory.
To the priority sector, the bank has made 44.62 per cent of its advances as against the RBI benchmark of 40 per cent.
The Integrated Rural Development Programme is being given liberal assistance. SBBJ also gave multi-option deposit facilities to its clients so that all the facilities were made available in a single account.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
