UTI Bank has reported a 43.91 per cent increase in net profit for the fourth quarter ended March 31, 2003 to Rs 60.53 crore as against Rs 42.06 crore in the previous year.
Interest income for the fourth quarter increased by 13.53 per cent to Rs 396.49 crore (Rs 349.23 crore) while other income rose to Rs 119.71 crore (Rs 118.52 crore).
The interest expenses rose to Rs 286.51 crore (Rs 267.86 crore) while operating expenses climbed up by 55.11 per cent to Rs 103.71 crore (Rs 66.86 crore).
The bank has recorded a 43.26 per cent growth in net profit for 2002-03 at Rs 192.18 crore from Rs 134.13 crore in the previous year. The board has recommended a dividend of 22 per cent for fiscal 2003.
Says UTI Bank
