Business Daily from THE HINDU group of publications
Tuesday, Jul 03, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 03, 2007 ePaper |
|
|
|
|
|
|
|
Money & Banking
-
Financial Performance Corporate Results - Foreign Banks ABN Amro net rises 59% to Rs 385 cr
Our Bureau Mumbai, July 2 ABN Amro Bank has registered 59 per cent growth in net profit to Rs 385.35 crore in 2006-07 against Rs 241.68 crore in the previous year, on the back of a rise in interest and fee-based income. Turnover increased by 36 per cent to Rs 32,077 crore (Rs 23,539 crore). Advances rose 22 per cent to Rs 18,387 crore (Rs 15,073 crore), while deposits increased 34.85 per cent to Rs 15,998.30 crore (Rs 11,863.77 crore). Total income went up by 52.23 per cent to Rs 3,027 crore (Rs 1,988 crore), while other income increased 23 per cent to Rs 753 crore (Rs 612 crore). Mr Romesh Sobti, Executive Vice-President and Country Representative, ABN Amro Bank India, said that there had been a change in the revenue mix. "A few years back, the advances portfolio was mainly skewed towards retail. However, non-retail areas like SME and corporate business have now gone up substantially. This is a healthy mix and we would like to maintain it." Currently, retail business accounts for 58 per cent of revenues and around 30 per cent of net profit. The bank has 15 lakh retail customers. Its total real estate exposure stood at Rs 3,500 crore, against Rs 2,300 crore in the previous year. Home loans brought in Rs 2,274 crore (Rs 1,798 crore). Mr Sobti said that the bank had four lakh borrowers under microfinance and the outstanding portfolio stood at Rs 162 crore. Net NPA-advances ratio remained low at 0.12 per cent. The bank upped its provisions and contingencies by 86.13 per cent to Rs 633 crore (Rs 340.25 crore) due to higher standard asset provisions stipulated by the Reserve Bank of India. In the fiscal ended March, the bank received capital infusion of Rs 725 crore, which enhanced its capital adequacy ratio to 11.34 per cent as on March 31, 2007 from 10.44 per cent in the previous year. MERGERS&ACQUISITIONS On outbound mergers and acquisitions, Mr Sobti said that besides large deals, several smaller deals were taking place between India and Europe, particularly in the UK, Belgium and the Netherlands. ABN Amro was advisor to the Tata-Corus and Suzlon- REpower deals. "A lot of consolidation is taking place in the cement, pharmaceutical and telecom sectors," Mr Sobti said.
More Stories on : Financial Performance | Foreign Banks
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
|