The Hindu Business Line : Catholic Syrian Bank net down at Rs 6.14 cr

The net profit of Catholic Syrian Bank for the year 2005-06 has touched Rs 6.14 crore (Rs 10.66 crore). The bank made an operational profit of Rs 36.99 crore. The bank's net advances grew by 18 per cent to Rs 2,695 crore (Rs 2,289 crore), while deposits grew to Rs 4,288 crore (Rs 4,021 crore). The bank was able to contain the net NPA to 2.78 per cent, while the gross NPA stood at 5.76 per cent. The capital to risk assets ratio stood at 11.26 per cent as against the RBI stipulated norm of nine per cent.

The average cost of deposit came down to 5.16 per cent and the net interest income stood at Rs 146.18 crore. This was partly because the share of low cost deposits increased to 29 per cent. The credit-deposit ratio of the bank also grew to 62.8 per cent.

The bank opened 14 new branches and 21 new ATMs during the year. It also introduced personal accident insurance policy called `CSB Travel Support' — mainly targeted at pilgrims, domestic tourists, travelling public and business or professional travellers.

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