ABM Amro net edges up to Rs 195.2 crore

Mumbai, Aug 3 | Updated: Aug 4 2005, 06:04am hrs
Dutch banking major, ABN Amro Bank has reported a net profit of Rs 195.23 crore for the year ended on, March 31, 2005 as against Rs 194.80 crore in the preceding fiscal. However, the bank brought forward a profit of Rs 475.43 crore, which took the total profit to Rs 670.65 crore.

In the reporting fiscal, the deposits rose by 20.84% at Rs 7076.78 crore, compared to Rs 5856.44 crore a year ago. However, the growth rate in advances outstripped that of deposits by a whopping 46.89% at Rs 9836.45 crore (Rs 6697.59 crore).The net non-performing assets of the foreign bank declined substantially by 41.57% to Rs 34.60 crore as against Rs 59.22 crore.

Interest earned by the bank surged by 19.17% at Rs 907.39 crore for the fiscal under review compared to Rs 761.37 for the year ended March 31, 2005. In the same fiscal, the banks other income rose by a modest 14.73% from the previous years close of Rs 379.44 crore.

On the expenditure side, interest expended by the bank stood at Rs 333.81 crore, registering a gain of 6.91%, compared to Rs 312.24 crore a year ago.

Operating expenses also surged by 20% at Rs 566.84 crore (Rs 470.31 crore).