The Hindu Business Line : Bank of Rajasthan net falls 56%

Bank of Rajasthan has reported a 56 per cent drop in net profit at Rs 24.16 crore for the quarter ended September, 30, 2007, against Rs 55 crore in the previous year. The fall was mainly because last year’s net profit included about Rs 37 crore from the sale of equity shares of Bharat Overseas Bank, said a press release. The bank has also shown a 3.71 per cent fall in net interest income at Rs 69.21 crore (Rs 71.88 crore). Total income increased to Rs 278.14 crore (R s 229.12 crore) and total expenditure also rose to Rs 248.74 crore (Rs 159.8 crore). Advances jumped 21 per cent to Rs 5,478 crore, against Rs 4,527 crore in the corresponding quarter of the previous year. Deposits increased 31 per cent to Rs 11,019 crore. The yield on advances increased to 11 per cent during the quarter (9 per cent). The net non-performing assets came down to 0.57 per cent from 0.76 per cent in the previous year. The capital adequacy of the bank stood at 13.35 per cent at the end of the second quarter (13.52 per cent). Net profit in the first six months of the fiscal also fell 28 per cent to Rs 54.34 crore, against Rs 75.27 crore.

— Our Bureau

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