GROWTH IS AN OLD HABIT HERE
Article Abstract:
The scrip of the Corporation Bank (CB) is traded at Rs135 now. CB's dues increased by Rs1,288 crore to Rs4,303 crore in 1997-98. Its interest income increased by 24 percent to Rs1,027 crore (Rs828 crore in 1996-97). Its net non-performing assets (NPAs) were 2.9 percent (3.6 percent). Its gross NPA was Rs341 crore as on March 31, 1998. Its investments increased by 26 percent to Rs4,154 crore (Rs3,286 crore). Its deposits increased by 40 percent to Rs9,351 crore (Rs6,673 crore). ------------------------------------------------------------ Financial performance of Corporation Bank ------------------------------------------------------------ Particulars 1997-98 1996-97 (Rs in crore) ------------------------------------------------------------ Interest earned 1,027.53 828.11 ------------------------------------------------------------ Other income 144.09 111.61 ------------------------------------------------------------ Interest outgo 639.17 511.14 ------------------------------------------------------------ Operating expenses 229.62 182.63 ------------------------------------------------------------ Provisions and contingencies 135.98 120.82 ------------------------------------------------------------ Net profit 166.87 125.13 ------------------------------------------------------------ Equity 119.93 82.00 ------------------------------------------------------------ Reserves 729.03 317.54 ------------------------------------------------------------ EPS (Rs) 13.91 15.26 ------------------------------------------------------------ Book value 70.79 48.72 ------------------------------------------------------------ The book value of the shares was Rs70.79. CB sold 28 tonnes of gold, worth Rs1,150 crore, and netted a profit of Rs6 crore in 3 months. The capital adequacy ratio was 16.9 percent. CB bank proposes to open 90 branches in 1998-99, increasing the network to 675 branches. It has projected a business of Rs17,000 crore and a net profit of Rs210 crore for 1998-99. The current market price of the scrip discounts the EPS by 7.5 times. (rk)
Comment:
Reports increase in net profit from Rs125.13 crore in 1996-97 to Rs166.87 crore in 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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J&K BANK NET UP 76% IN FIRST HALF
Article Abstract:
Jammu & Kashmir Bank has posted a 76 percent growth in net profit to Rs44.54 crore in the first half of 1998-99 (compared to Rs25.35 crore of the corresponding period of 1997-98). The deposits have risen by 38 percent to Rs5,286 crore (Rs3,843 crore). The net advances increased by 36.6 percent to Rs2,194 crore. It has invested 53 percent of the deposits in government securities and corporate debts totalling to Rs2,814 crore. Total income has increased by 35 percent to Rs351.4 crore. It has set Rs10,000 crore target for deposits to achieve by the year 2000. (rk)
Comment:
Jammu & Kashmir Bank has posted a 76 percent growth in net profit to Rs44.54 crore in the first half of 1998-99 (compared to Rs25.35 crore of the corresponding period of 1997-98).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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WARTSILA NSD INDIA LTD: FINANCIAL RESULTS
Article Abstract:
Wartsila NSD India Ltd of Mumbai has declared its audited financial results for the year ended December 31, 1998. (khr)
Comment:
Wartsila NSD India Ltd of Mumbai has declared its audited financial results for the year ended December 31, 1998.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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