Bank of India’s (BoI) net profit increased by 69% to Rs 757 crore during the fourth quarter ending March 31, 2008 from Rs 447 crore a year ago. Taking the year as a whole, the net profit of the bank shot up by 79% to Rs 2009 crore from the previous year’s Rs 1,123 crore.

The bank has declared a dividend of 40% for the year. Net interest income increased by 25.72% to Rs 1217 crore during the fourth quarter. Treasury profit of the bank increased to 60% during the quarter from 48% a year ago, while non- interest income rose by 13.17% to Rs 653 crore. The operating profit, excluding treasury income, stood at Rs 1,063 crore, showing a growth of 38.05% during the fourth quarter. The net interest margin of the bank during the quarter was 3.1% from 2.86% a year ago. The net NPA dropped to 0.52% at Rs 592 crore during the entire year from 0.95% a year ago. The return on assets jumped to 1.25% during the quarter from 0.88% a year ago.

Announcing the results in Mumbai on Wednesday, the bank chairman & managing director, TS Narayanasami, said: ?My bank was all set to foray into businesses like mutual fund, credit card and our efforts will be to acquire a mid-sized overseas bank?. Last year, the bank had acquired an Indonesian bank. The overseas operations alone has contributed to 17.5% to the net profit bank during the year. Narayanasami said: ?This year we will focus on non interest income as we want to survive in a competitive environment?. Though there was no need for further stake dilution, Narayanasami said, the bank would look at raising a sum of Rs 5000 crore in tier I and tier II perpetual bonds. Onthe derivatives exposure of his bank, Narayanasami said that all derivative-related transactions, which was worth Rs 125 crore, belong to our 34 corporate clients that had done 74 such transactions during the year.

P&S Bank net up 75%

Punjab & Sind Bank’s net profit rose to 74.97% to Rs 382.36 crore.97% while the return on assets stood at 1.49% as compared with the 1.01% during the previous fiscal. Total business of the bank was Rs 43,240 crore as on 31, March 2008 as against Rs 31,267 crore of the previous year. Gross deposits rose by 28.54% while gross advances have increased by 54.08%. Business per employee is up from Rs 3.29 crore to Rs 4.67 crore as of March 2008, thereby further improving the productivity level of the employees. The bank has registered a sharp decline in its NPAs, below 1% to 0.74%.

SBT posts Rs 386 cr net profit, pays 100%

State Bank of Travancore (SBT), the newest entrant to RBI’s `medium’ bank category, has clocked 18.34% annual growth in net profit with a net profit of Rs 386.11 crore in 2007-2008. In the previous financial, this was Rs 326.28 crore.

The Board of Directors, which met here this week, has allowed 100% dividend for the third year in a row. EPS (Earnings per share) grew from Rs 652.5 to Rs 777.2 this financial. The latest development was that demat of the bank’s shares is approved by NSDL and CDSL.

M Ramaswamy, managing diretor-in-charge, SBT said that the bank had focussed on trader loans, even winning national-level awards in SME (small and medium enterprises) lending. Retail loans gave the volumes, taking the total business of the bank to over Rs 63,490.51 crore at year-end. As the remittances channel with 37% market-share in Gulf remittances to Kerala, SBT planned to open its UAE representative office in Dubai this year, he said.

In the fourth quarter (Q4) of 2007-2008, SBT showed a net profit of Rs 149.20 crore. This means 6.22% growth over Rs 140.46 crore posted in the corresponding period in the last fiscal. The total income for the three-month period was recorded at Rs 1061.02 crore, as against Rs 906.95 crore at the end of Q4 during the previous financial.

SBBJ net at Rs 315 cr

The State Bank of Bikaner and Jaipur (SBBJ) has registered a net profit of Rs 315 crore in 2007-08 as against Rs 306 crore in the previous year, a jump of 3%. The total income of the bank increased by 22.9% to touch Rs 3523.68 crore in 2008-09. The bank board has declared a dividend of 100% (Rs 100 per share on face value of Rs.100). With the notification of the SBI (Subsidiary Banks Laws) Amendment Act 2007, the authorized capital of the bank has increased from Rs 50 crore to Rs 500 crore. In addition, the restriction of individual shareholding in excess of 200 shares has also been removed. According to a statement, the SBBJ has adopted the stringent Basel-II framework as well. The earnings per share of the Bank increased from Rs 611.61 in 2006-07 to Rs.630.00 in 2007-08. The capital adequacy ratio of the bank stood at 13.50% March as on 2008. The gross NPA ratio is estimated at 1.73% as on March end 2008 while net NPA ratio fell below 1 % for the first time to 0.83%, the statement said.

BoM net rises 21%

Bank of Maharashtra (BoM) has reported a 20.8% rise in its net profit for the year ended March 31, 2008 at Rs 328.39 crore as against Rs 271.84 crore for the previous corresponding year. Total income during the year increased to Rs 3,821 crore from Rs 2,987 crore last year, showing a rise of 27.91%. The interest spread increased from Rs 1,094 crore to Rs 1,229 crore registering a growth of 12.34%. The non-interest income during the year rose to Rs 280 crore as against Rs 265 crore. The total business reached a level of Rs 71,556 crore as against Rs 57,382 crore during last year, registering a growth of 24.7%.

Total deposits of the bank stood at Rs 41,758 crore, an absolute increase of Rs 7,839 crore, registering a growth of 23.11%. During the year, the bank has added 10.94 lakh new accounts to its fold, expanding the customer base to 12.50 million. The bank?s advanced portfolio grew by 27% over the previous year to reach Rs 29,798 crore from Rs 23,462 crore. The credit to cash deposit ratio stood at 71.35%. The priority sector advances increased from Rs. 9,335 crore to Rs 11,410 crore, reflecting a growth of 22.22%. Agricultural advances grew from Rs. 3,389 crore to Rs 4,936 crore, an absolute increase of Rs 1,547 crore registering a YoY growth of 45.65 per cent. Investments stood at Rs 12,283 crore as on March 31, 2008 as against Rs 11,298 crore.

Dena Bank?s net up at 153% in Q4

Riding on interest and non-interest income and less requirement for provisioning, the net profit of the state-run Dena Bank has increased to Rs 110.99 crore during the fourth quarter of 2007-08 from Rs 43.80 crore, thus registering a growth of 153.40%. The net profit of the bank for the entire year rose to 78.5% at Rs 359.79 crore. The bank has declared a dividend of 10% for the year. While networth of the bank increased to Rs 1535.54 crore at 41.29% during the fourth quarter, the business mix also saw a rise of 23.62% during the period. The bank?s CASA stands at 41.13%. The gross credit of the bank rose by 25.15%, whereas the deposits grew by 22.58% during the period. The net interest income of the bank rose to 2.29%. Net interest margin of the bank during the fourth quarter was at 2.85%.

However, there was a drop in the net interest margin (NIM) of the bank during the year. The NIM was decreased to 2.85% from 3.27% a year ago. The bank has planned to keep its NIM at 3% during the current fiscal.