STATE BANK OF INDIA: VENTURING INTO NEW AREAS
Article Abstract:
The State Bank of India (SBI) posted a 6 percent growth in its sales, 4 percent in expenses and 40 percent in net profit in 1997-98. Its gross profit increased by 3 percent. The total assets of SBI decreased to Rs1,644 crore in 1997-98 (Rs2,048 crore in 1996-97). It reduced its prime lending rate (PLR) to 13.63 percent (15.67 percent). Its interest spread was 3.57 percent (4.01 percent). SBI proposes to invest Rs400 crore in the equity market in 1998-99. It plans to enter the credit card business from August 1998. Its subsidiaries accounted for 25 percent of its earnings. SBI plans to raise $2 billion through the Resurgent India Bonds. (rk) ------------------------------------------------------------ Financial results of State Bank of India ------------------------------------------------------------ Particulars 1997-98 1996-97 (Rs in crore) ------------------------------------------------------------ Interest income 15,878.89 14,950.66 ------------------------------------------------------------ Other income 2,850.17 2,643.07 ------------------------------------------------------------ Interest outgo 10,473.21 9,591.43 ------------------------------------------------------------ Operating expenses 4,720.89 4,604.67 ------------------------------------------------------------ Provisions, contingencies 1,643.76 2,048.38 ------------------------------------------------------------ Net profit 1,861.20 1,349.25 ------------------------------------------------------------ Equity 526.30 526.30 ------------------------------------------------------------
Comment:
Posts 6% growth in sales, 4% in expenses and 40% in net profit in 1997-98
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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GLOBAL TRUST BANK: BRIGHT OUTLOOK
Article Abstract:
Global Trust Bank of Secunderabad has launched 2 products - Maha Savings Account and Flexi Unit Deposits. It offers loans to software and textile companies and turnkey and construction projects. It has declared a dividend of 18 percent for 1997-98 against 15 percent for 1996-97. --------------------------------------------------------- Financial performance of Global Trust Bank --------------------------------------------------------- Particulars Year ended March (Rs in crore) 1998 1997 --------------------------------------------------------- Interest income 394.08 356.82 --------------------------------------------------------- Operating expenditure 71.28 53.35 --------------------------------------------------------- Interest outgo 322.79 289.76 --------------------------------------------------------- Net profit 80.13 57.40 --------------------------------------------------------- Equity 104.00 104.00 --------------------------------------------------------- Net worth 241.72 183.74 --------------------------------------------------------- EPS (Rs) 7.70 5.52 --------------------------------------------------------- Advances 1,755.85 1,462.46 --------------------------------------------------------- Deposits 3,285.37 2,279.34 --------------------------------------------------------- It is likely to post an operating income of Rs453 crore and a net profit of Rs92 crore in 1998-99. Its earning per share will be Rs8.85. The EPS discounts the current market price of the scrip by 7 times. (rk)
Comment:
Posts an increase in its net profit to Rs80.13 crore in the year ended 3/98 from Rs57.40 crore in the year ended 3/97
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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BANK OF INDIA
Article Abstract:
The Bank of India (BoI) made a net profit of Rs3.64 crore on an income of Rs45.04 crore in 1997-98. It had made a net profit of Rs3.60 crore on an income of Rs40.04 crore in 1996-97. Its credit-deposit ratio rose from 55.98 percent to 57.35 percent in 1997-98. It made a net profit of Rs0.87 crore on an income of Rs11.01 crore in the first quarter of 1998-99. Its equity is Rs6.38 crore. Its scrip is being traded at Rs29.50 at a price earning multiple of 5.2. (rk)
Comment:
Posts net profit of Rs3.64 crore on an income of Rs45.04 crore in 1997-98
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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