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Wednesday, Jun 30, 2004

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BNP Paribas trims net loss to Rs 13 cr

Our Bureau

Mumbai , June 29

BNP Paribas has posted a lower net loss of Rs 13 crore for the year ended March 2003-04 compared to a net loss of Rs 14.3 crore in the previous year.

The net losses are due to the provisioning for the bad assets in the bank's books and lower lending margins.

The bank has made provisions of Rs 48 crore this year (Rs 16 crore). The net NPA as a percentage of net advances stood at 2.7 per cent (3.77 per cent). The net NPA in terms of numbers decreased to Rs 35 crore (Rs 53 crore).

The total income of the bank decreased to Rs 222 crore from Rs 281 crore in the previous year.

During the year, operating profit stood at Rs 35.29 crore as against Rs 1.74 crore for the financial year ended March 2003.

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