Mumbai, July 25
BANK of Rajasthan reported a dip in net profit to Rs 5.22 crore for the quarter ended June 30, from Rs 20.15 crore in the corresponding quarter last year, according to a press release from the bank.
The release quoted Mr Pravin Kumar Tayal, Chairman, Bank of Rajasthan as saying, "A provision of Rs 4.42 crore towards employees wage liability and depreciation of Rs 12 crore on Government Securities has impacted earnings."
The bank has also decided to transfer majority of its Government Securities under Available-For-Sale (AFS) to Held-Till- Maturity (HTM) category, to restrict further losses in treasury portfolio, the release said.
Total income decreased marginally to Rs 155.08 crore (Rs 155.43 crore). Other income dropped to Rs 19.66 crore (Rs 25.36 crore). Net interest income moved up to Rs 51.56 crore (Rs 45.26 crore).
Total advances rose to Rs 26.10 crore (Rs 21.18 crore). Net NPAs have decreased to 2.62 per cent (2.98 per cent).
Cost of deposits has fallen to 4.57 per cent (4.84 per cent). Capital Adequacy Ratio is 13.72 per cent (12.81 per cent).