UTI Bank net surges 45% in Q2

 Net profit for the half year ended September 30,2003 grew by 45.17 per cent to Rs 116.36 crore from Rs 80.15 crore the previous fiscal.

 Total income increased by 12.23 per cent to Rs 540.59 crore for the second quarter from Rs 481.66 crore the previous year.

 Interest income rose by 7.56 per cent to Rs 390.77 from Rs 363.29 crore, while other income rose by 26.56 per cent to Rs 149.82 crore from Rs 118.37 crore the previous year.

 The net interest margin (NIM) for the second quarter was at 2.96 per cent compared with 1.78 per cent in the previous year and 2.71 per cent in the first quarter of fiscal 2004.

 The fee income grew by 53 per cent, to Rs 47.91 crore from Rs 31.35 crore in the previous year. Trading profits grew by 17.11 per cent to Rs 101.91 crore from Rs 87.02 crore the previous year.