The Hindu Business Line : Catholic Syrian Bank net rises 92%

Kochi, June 1 The net profit of Catholic Syrian Bank has grown by 92 per cent to Rs 36.56 crore (Rs 19.07 crore) for the year 2007-08. While adopting the audited accounts, the board recommended a 30 per cent dividend to the shareholders. This has been the highest dividend proposed by the bank.

The net interest income of the bank moved up marginally to Rs 164.09 crore (Rs 157.43 crore).

However, the return on assets moved up from 0.37 per cent last year to 0.64 per cent. The percentage of net NPA to net advances fell from 1.98 per cent to 1.61 per cent.

The capital adequacy of the bank was 10.87 per cent against the RBI stipulation of nine per cent, a press release from the bank has said.

The bank is also in the early migration process from Basel I to Basel II norms as far as capital adequacy is concerned. The capital to risk assets ratio is 11.21 per cent as per the Basel II norms and the bank would be among the few banks to have initiated this migration, the press release added.

The bank’s deposits have gone up to Rs 5,318 crore (Rs 4,749 crore) and advances have grown to Rs 3,314 crore (Rs 3,013 crore).

The operating profits grew to Rs 73.48 crore (Rs 62.65 crore).

The bank added 17 branches during the financial year taking the total number of branches to 361 and 125 ATMs have been made operational.

Now, customers of nearly 85 per cent of the branches are able to access the ATMs. The bank also launched the first mobile ATM facility at Kochi last year.

For facilitating customer fund transfers on a real time basis all the branches have been enabled with RTGS facility.

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