Financial Daily from THE HINDU group of publications
Friday, May 27, 2005
Financial Daily from THE HINDU group of publications Friday, May 27, 2005 |
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Money & Banking
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Regional Rural Banks Sangameshwara Bank net up Our Bureau
HYDERABAD: Sangameshwara Grameena Bank (SGB), sponsored by State Bank of India, has announced a record net profit of Rs 17.06 crore for the fiscal ended March 2005, a growth of 42 per cent. In a press release here on Thursday, the bank said its deposits grew by 17 per cent to Rs 283.86 crore, while advances rose by 30 per cent at Rs 251.58 crore. The bank's non-performing assets (NPAs) have come down to 4.5 per cent from nine per cent in the previous year. The credit deposit ratio stood at 89 per cent as at the end of March 2005. During the fiscal under review, the bank recorded a growth of 33 per cent in credit to agriculture at Rs 118.59 crore from Rs 77.78 crore in the previous fiscal.
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