CORPORATION BANK

Article Abstract:

Corporation Bank, Mangalore has reported a gross profit of Rs303 crore for 1997-98. During this period, the net profit was Rs167 crore while the earnings per share was Rs13.90 crore. It reported a net non performing assets of 2.93 percent and a capital adequacy ratio of 16.9 percent. The bank has declared a dividend of 35 percent for 1997-98. The performance of the bank are given below. (ag) ------------------------------------------------------------ Corporation Bank: Abridged Profit & Loss Account for 1997-98 ------------------------------------------------------------ Particulars (Rs in 000's omitted) 1997-98 1996-97 ------------------------------------------------------------ Interest earned 10,275,312 8,281,053 ------------------------------------------------------------ Other Income 1,440,989 1,116,143 ------------------------------------------------------------ Interest Expended 6,391,656 5,111,385 ------------------------------------------------------------ Operating Expenses 2,296,205 1,826,301 ------------------------------------------------------------ Provision and Contingencies 1,359,786 1,208,191 ------------------------------------------------------------ Net Profit 1,668,654 1,251,319 ------------------------------------------------------------ Equity Capital 1,199,343 820,000 ------------------------------------------------------------ Deposits 93,515,649 66,732,998 ------------------------------------------------------------ Borrowings 703,492 2,712,553 ------------------------------------------------------------

Comment:

Reports a gross profit of Rs303 crore for 1997-98

Corporation Bank (Bangalore, India)

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UTI BANK HITS DEPRECIATION, NPA BUMP, RISE IN NET SLOWS

Article Abstract:

The growth in profits of UTI Bank, the banking division of the Unit Trust of India (UTI), has declined as it had to account for depreciation of investments and non-performing assets. Its net profit increased by 7 percent to Rs16.02 crore in 1997-98 Rs15 crore in 1996-97), although its profit after tax and depreciation totalled Rs42.82 crore. The bank's net worth was Rs159.56 crore on a paid-up capital of Rs100 crore in 1997-98. Its deposits increased by 94 percent to Rs2,731 crore in 1997-98 (Rs1,409 crore in 1996-97). Its advances increased by 136 percent to Rs1,627 crore (Rs689 crore). Its total income increased by 74 percent to Rs316.51 crore (Rs81.90 crore). (khr)

Comment:

Posts increase in net profit by 7% to Rs16.02 crore in 1997-98, as against Rs15 crore in 1996-97

UTI Bank Ltd.

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CENTRAL BANK RECORDS 30% RISE IN OPERATING PROFIT FOR 9 MONTHS

Article Abstract:

Central Bank of India has posted a growth of 30.9 percent in operating profit at Rs231.7 crore for the nine months ended December 31, 1998 (Rs177.35 crore in the nine months ended December 31, 1997). Its aggregate deposits increased by 18.08 percent on year-on-year basis to Rs28,983 crore. Its gross credit increased by 23.88 percent to Rs12,815 crore. Its net investments increased by 10.61 percent to Rs15,407 crore. Its income from investments has increased by Rs115 crore to Rs1,221 crore. (rk)(m)

United States, Central Bank of Turkey

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