The bank has announced its first half performance here today. The total income of the bank went up by 20 per cent at Rs 1,368 crore, while the gross profit increased by 47 per cent at Rs 417.55 crore during the period under review.
The deposit base of the bank increased by Rs 3,693 crore to Rs 20,692 crore, as compared with that of Rs 16,998 crore as on September 2002.
The total advances in the same period increased by Rs 1,511 crore to Rs 10,244 crore. The net non performing assets (NPAs) of the bank stood at 2.82 per cent of advances as on September 30, 2003, a significant improvement from that of 5.09 per cent as on september 30, 2002. The bank has increased its ATMs network to 60 at the end of September.
The bank had recently introduced a host of new products with a focus on retail business, particularly the personal loans segment.
The bank, in a release, hoped that it was poised to achieve an operating profit of Rs 1,000 crore during the current fiscal. All the barnches of the bank are expected to be computerised by December.
