The Hindu Business Line : Prudential Bank posts operating profit of Rs 11 cr

PRUDENTIAL Bank, the Hyderabad-based urban cooperative bank, has announced that it has finalised its profit and loss account and balance sheet for the year ended March 2004.

In a press release here on Monday, the bank's Managing Director, Mr S. Satya Murthy, said the bank has posted an operating profit of Rs 11.1 crore and cash profit of Rs 15.5 crore for the year under review.

Stating that the recoveries for the accounting year stood at Rs 130 crore compared with Rs 168 crore in the previous fiscal, Mr Murthy said the percentage of net non-performing assets have come down from 74.81 per cent to 40 per cent.

While the operating expenses have come down by Rs 2.23 crore, the bank has maintained the required statutory liquidity ratio as well as cash reserve ratio, Mr Murthy said.

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Prudential Bank posts operating profit of Rs 11 cr