abhishreshthaa
Abhijeet S
BANK’S PERFORMANCE :
The Bank improved its performance under various parameters during the year. The major business focus of the Bank during the year on stepping up the growth of Savings Bank deposits and retail credit, especially the housing loans.
The recovery of non performing assets was yet another thrust area. The highlights of the performance are given below :
1. The net profit increased to Rs.411.31 Crore from the year 2003-04 as against Rs.195.56 Crore in 2002-03. The gross profit recorded is 100% increase from Rs.432.36 crore in 2002-03 to Rs.865.64 crore in 2003-04.
2. The total business crossed Rs.30000 Crore mark and stood at Rs.32350.10 Crore in March 2004 as compared to Rs.235203.80 Crore in March 2003, recording 28.35% increase.
3. The total deposits of the Bank increased from Rs.17019.81 crore in March 2003 to Rs.21015.05 Crore in March 2004, recording 23.47% increase. Savings Bank Deposits grew by 26.7% from Rs.3511.13 Crore in March 2003 to Rs.4447.31 Crore in March 2004.
4. Gross credit of the Bank increased from Rs.8183.99 crore in March 2003 to Rs.11335.05 crore in March 2004, recording 38.50% increase. Housing loans more than trebled from Rs.591.73 crore in March 2003 to Rs.1811.75 Crore in March 2004.
5. The net non performing advances as percentage to net advances declined from 2.61% as on 31.3.2003 to 0.91% as on 31.3.2004. Cash recoveries under NPAs, interest on NPAs and recovery under prudentially written off accounts amounted to Rs.203.74 crore in 2003-04 as compared to Rs.115.00 crore in 2002-03.
6. The capital adequacy ratio stood at 14.11% at the year end, much above the prescribed requirement of 9%.
The Bank improved its performance under various parameters during the year. The major business focus of the Bank during the year on stepping up the growth of Savings Bank deposits and retail credit, especially the housing loans.
The recovery of non performing assets was yet another thrust area. The highlights of the performance are given below :
1. The net profit increased to Rs.411.31 Crore from the year 2003-04 as against Rs.195.56 Crore in 2002-03. The gross profit recorded is 100% increase from Rs.432.36 crore in 2002-03 to Rs.865.64 crore in 2003-04.
2. The total business crossed Rs.30000 Crore mark and stood at Rs.32350.10 Crore in March 2004 as compared to Rs.235203.80 Crore in March 2003, recording 28.35% increase.
3. The total deposits of the Bank increased from Rs.17019.81 crore in March 2003 to Rs.21015.05 Crore in March 2004, recording 23.47% increase. Savings Bank Deposits grew by 26.7% from Rs.3511.13 Crore in March 2003 to Rs.4447.31 Crore in March 2004.
4. Gross credit of the Bank increased from Rs.8183.99 crore in March 2003 to Rs.11335.05 crore in March 2004, recording 38.50% increase. Housing loans more than trebled from Rs.591.73 crore in March 2003 to Rs.1811.75 Crore in March 2004.
5. The net non performing advances as percentage to net advances declined from 2.61% as on 31.3.2003 to 0.91% as on 31.3.2004. Cash recoveries under NPAs, interest on NPAs and recovery under prudentially written off accounts amounted to Rs.203.74 crore in 2003-04 as compared to Rs.115.00 crore in 2002-03.
6. The capital adequacy ratio stood at 14.11% at the year end, much above the prescribed requirement of 9%.