Financial Daily from THE HINDU group of publications
Tuesday, May 11, 2004

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Money & Banking - Financial Performance
Corporate Results - Private Banks

Bank of Rajasthan net at Rs 69 cr; to pay 20 pc

Our Bureau

Mr P.K.Tayal, Chairman, Bank of Rajasthan (right), Mr K.M.Bhattacharya, MD, at a press conference in Mumbai on Monday. - - - Paul Noronha

Mumbai , May 10

ON account of high provisioning, Bank of Rajasthan has registered a net loss of Rs 22.13 crore for the fourth quarter ended March 2004 as against a net profit of Rs 21.78 crore in the same period last year.

For the full year, the bank has posted a net profit of Rs 69.03 crore compared to Rs 68.42 crore in the previous year. A dividend of 20 per cent has been proposed.

Provisions and contingencies for the quarter increased to Rs 58.51 crore from Rs 8.50 crore. For the full year, provisions had shot up to Rs 88.71 crore from Rs 37.71 crore. As a result, the bank's net non-performing assets (NPAs) were at Rs 73 crore i.e. less than three per cent. .

Total income for the fourth quarter increased a tad to Rs 165.42 crore from Rs 163.53 crore in the corresponding period in 2003 while net interest income fell to Rs 45.62 crore from Rs 52.02 crore. Other income was down to Rs 36.49 crore (Rs 38.23 crore). Income on investments rose to Rs 71.74 crore from Rs 61.29 crore.

The capital adequacy ratio was at 11.18 per cent, down from 11.29 per cent last year.

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