Financial Daily from THE HINDU group of publications
Wednesday, Apr 28, 2004
Financial Daily from THE HINDU group of publications Wednesday, Apr 28, 2004 |
||
|
|
||
|
Corporate Results
-
Private Banks Money & Banking - Private Banks CSB net profit up 25 pc Our Bureau
Thrissur , April 27 The net profit of the Thrissur-based Catholic Syrian Bank has grown by 25 per cent to touch Rs 56.50 crore (Rs 45.16 crore) for the year 2003-04. Addressing a press conference, Mr N.R. Achan, Chairman, said the bank had turned the corner and was poised for consistent growth in future. The gross profit grew 10 per cent to Rs 123.27 crore (Rs 111.78 crore). The bank has been able to shore up its capital base by ploughing back profits; the capital adequacy level has risen to 11.23 per cent. The bank has also been able to bring down the net NPA to 4.65 per cent (7.90 per cent). The gross NPA to gross advances fell to 8.84 per cent (13.01 per cent). Net advances rose by close to 30 per cent to Rs 1,898 crore (Rs 1,470 crore). The deposits have grown to Rs 3,880 crore (Rs 3,506 crore). The savings bank portfolio has grown by close to 30 per cent. Both the treasury and interest income were up, with the net interest income increasing by 36 per cent to Rs 122.21 crore (Rs 89.43 crore). Profit per employee has risen to Rs 1.96 lakh, up from Rs 1.57 lakh last year. Return on assets has improved to 1.31 per cent, up from 1.17 per cent last year. Despite the falling interest rate regime, the bank has able to command a 2.9 per cent interest spread, Mr Achan said. Remittances from abroad had come down during last year, affecting NRI deposits retained with the bank. NRI deposits still constituted close to 32 per cent of the bank's total deposits. The bank still had close to Rs 12 crore in high cost NRI deposits, which will soon be re-priced.
More Stories on : Private Banks | Private Banks
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|