Bank of Rajasthan (BoR) has reported a 25.10 per cent increase in net profit at Rs 40.31 crore in the year ended March 31, 2002, against Rs 32.22 crore in the previous year. The private sector bank has also wiped out its entire accumulated losses of more than Rs 125 crore.
The capital-to-risk weighted assets ratio of the bank improved to 12.07 per cent as at March-end 2002 against 10.57 per cent as at March-end 2001.
Its gross non-performing assets declined from 17.20 per cent as at March-end 2001 to 15.73 per cent as at March-end 2002. BoR has been allowed by the RBI to use its Rs 80 crore free reserves to set off against accumulated losses.
The bank