Business Daily from THE HINDU group of publications
Wednesday, Apr 18, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Apr 18, 2007 ePaper |
|
|
|
|
|
|
|
|
|
|
Home Page
-
Financial Performance Corporate Results - Private Banks Money & Banking - Financial Performance UTI Bank net rises 39% in Q4 Our Bureau
Mumbai April 17 Buoyed by strong growth in fee income and improvement in net interest margin, UTI Bank has posted a 39.65 per cent growth in net profit to Rs 211.89 crore for the fourth quarter ending March 31, 2007, against Rs 151.73 crore for the corresponding quarter of the previous year. "The rise in net profit was mainly because we could increase the share of our demand deposits by 40 per cent, which helped us to maintain the cost of rising interest rates and pass on the burden of rising interest rates to our customers. This helped us maintain our net interest margin," said Mr R. Asok Kumar, Executive Director, UTI Bank. "We also decided to focus strongly on fee-income. Our trading profits came down because the markets were not favourable and it is highly difficult to maintain a growth in trading profits in a rising interest rate scenario," he added. The net interest income for the fourth quarter grew over 48 per cent to Rs 464.23 crore. Net advances have grown 65 per cent to Rs 36,876 crore while deposits have risen 47 per cent to Rs 58,786 crore. The net profit of the bank for the year ending March 31, 2007, grew over 35 per cent to Rs 659.03 crore. UTI Bank's scrip closed at Rs 465.8 against the previous close of Rs 469.3 on the BSE.
Related Stories: More Stories on : Financial Performance | Private Banks | Financial Performance
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
