Bank Of Rajasthan Net Up 56.97% To Rs 28 Cr

Mumbai, October 30: | Updated: Oct 31 2002, 05:30am hrs
Bank of Rajasthan (BoR) on Wednesday announced a 56.97 per cent jump in net profit for the first half of the current fiscal to Rs 28.27 crore from Rs 18.01 crore in the corresponding period previous year.

The net profit for the quarter ended September 30, 2002 also rose by 187.6 per cent to Rs 15.54 crore (Rs 5.40) crore. The operating profit of the bank for the six month period was up 160.75 per cent to Rs 60.99 crore (Rs 23.39 crore)

Its total income for the quarter stood at Rs 149.31 crore (Rs 127.97 crore).

The interest earned for the quarter was Rs 114.36 crore (Rs 114.20 crore) and the other income rose to Rs 34.95 crore (Rs 13.77 crore).

The deposits grew by 16.48 per cent to Rs 4,184.84 crore in first half (Rs 3,592.82 crore) while the advances stood at around Rs 1,900 crore.

The net non-performing assets (NPAs) of the bank stood at 8.65 per cent (8.86 per cent). While fresh NPAs were Rs 15 crore in the first half, the recoveries were to the tune of Rs 18 crore, informed BoRs managing director, KM Bhattacharya.

Other provisions and contingencies were higher at Rs 18.59 crore (Rs 2.74 crore). The banks capital adequacy ratio was at Rs 13.6 per cent (12.56 per cent).

The promoters stake in BoR has increased by five per cent to 43 per cent as on September end.

Any further hike could now be done only in next fiscal, informed BoRs chairman, Pravin Kumar Tayal. He also mentioned that the bank is looking at giving interim dividend and has applied for permission to the relevant authorities.