Business Daily from THE HINDU group of publications
Wednesday, Jun 28, 2006
Business Daily from THE HINDU group of publications Wednesday, Jun 28, 2006 |
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Money & Banking
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Financial Performance Corporate Results - Private Banks Lord Krishna Bank posts Rs 3.68 cr net Our Bureau
Kochi , June 27 Lord Krishna Bank has posted a net profit of Rs 3.68 crore for the financial year 2005-06, as against the net loss of Rs 24.41 crore posted in the previous year. The bank could post a profit this year as the high interest volatility in the G-Sec market had subsided. The bank was able to reduce the net NPA to 3.11 per cent (4.22 per cent). Meanwhile, the net worth of the bank has risen from Rs 160.12 crore to Rs 163.82 crore, a press release from the bank said. The capital adequacy level stood at 10.11 per cent, above the Reserve Bank of India mandated minimum of 9 per cent. The bank was also able to reduce the cost of deposits from 6.35 to 6.04 per cent. As part of strategies aimed at strengthening its capital base, the bank plans to mobilise additional Tier-II capital and make an initial public offering during this year.
More Stories on : Financial Performance | Private Banks
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