The Hindu Business Line : SBBJ hopes to achieve Rs 40,000-cr business

STATE Bank of Bikaner & Jaipur (SBBJ) hopes to achieve a total business of Rs 40,000 crore during 2005-06, up from the Rs 31,000 crore it has clocked during the year ended March 31, 2005.

Its net NPA to net advances ratio, which stood at 1.61 per cent as on March 31, is expected to reduce to 0.5 per cent at the end of the current fiscal.

The bank, said Mr S.K. Bhattacharyya, Managing Director, has seen "slippages in certain sectors" in recent days and hopes to shore up its NPA reduction programme. It also plans to bolster its deposit mobilisation initiatives.

SBBJ, which has a paid-up base of Rs 50 crore, sees no scope for capital expansion at this juncture. However, there is further room for Tier II.

The bank had raised Rs 250 crore Tier II capital last year.

"We have targeted a net profit of Rs 350-odd crore for the current fiscal," he observed, adding that the net profit stood at Rs 205 crore for 2004-05.

The bank hopes to play a greater role in the retail loans segment.SBBJ plans to expand its branch network on a selective basis, Mr Bhattacharyya said. It currently has over 800 branches, most of which are in Rajasthan, the State in which it commands the largest market share among all commercial banks.

Two new branches will come up in Kolkata shortly, he said.

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