The post-tax profit of Time-Bank, is likely to be in the region of Rs 14-15 crore. Its pre-tax profit after it made provision for preliminary expenses is expected to be Rs 30 crore. The bank will have its board meeting on July 7, 1997 during which the accounts will be finalised. The bank has an outstanding advances of Rs 1,100 crore and has a deposit base of Rs 1300 crore for the year-ended March 1997. The credit-deposit ratio of the bank is 0.85. TimesBank is targetting a growth of 30 per cent in terms of assets . This indicates a growth of Rs 400 crore in terms of advances and Rs 450 crore on account of deposits.
The bank has Non-Performing -Assets to the tune of Rs 10 crore amounting to less than 1 per cent of the advances. It will be offering to its clients different methods of assessment for the purpose of determination of working capital needs as per the freedom accorded by RBI in its credit poilcy. TimesBank would offer the turnover method of assessement for corporates with smaller requirements upto Rs 2 crore and clients with higher requirements will be offered the cash budgeting method.
The assessement norms are likely to be approved at the board meeting and thereafter he bank expects to put these plans
