Catholic Syrian Bank registered impressive business growth in 2010-11, with net profit touching Rs 12.18 crore compared with Rs 1.65 crore in the previous fiscal.
The total business grew by more than 30 per cent, and crossed the Rs 15,000-crore mark as on March 31. Deposits logged more than 25 per cent growth, which was higher than the industry average of 15 per cent. Growth in advances, at 39 per cent, was also more than the industry average of 21 per cent.
During 2010-11, the bank could effectively deploy the surplus funds which were earlier parked in government securities. This resulted in a more than doubling of net interest income, from Rs 122.80 crore in 2009-10 to Rs 248.16 crore in 2010 -11.
The net worth of the bank as on March 31, 2011, stood at Rs 470.14 crore, up from Rs 308.83 crore in the year-ago period.
The CAR (Capital Adequacy Ratio) improved from 10.82 per cent to 11.22 per cent during the year. And the gross and net NPAs are at 3.05 per cent and 1.74 per cent respectively.
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