THE UNITED WESTERN BANK LTD
Article Abstract:
The United Western Bank Ltd has recorded a 55.38 percent growth in net profit, 30.56 percent rise in deposits, 27.26 percent increase in advances and 29.42 percent hike in total business in 1997-98. Earlier, the bank had projected a total income of Rs336.12 crore and net profit of Rs45 crore for the year. (gsh) --------------------------------------------------------- Audited Financial Results: The United Western Bank Ltd (Rs in crore) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Income from operations 324.06 282.03 --------------------------------------------------------- Other Income 10.51 7.14 --------------------------------------------------------- Total Expenditure 246.51 221.82 --------------------------------------------------------- Gross Profit 88.06 67.35 --------------------------------------------------------- Depreciation 8.75 8.89 --------------------------------------------------------- Provisions 45.78 36.88 --------------------------------------------------------- Net Profit 33.53 21.58 --------------------------------------------------------- Paid-up equity capital 29.89 29.89 --------------------------------------------------------- Reserves excluding revaluation reserve 122.20 96.89 --------------------------------------------------------- Earnings per share (Rs) 11.21 7.22 ---------------------------------------------------------
Comment:
Reports 55.38% growth in net profit, 30.56% increase in deposits, 27.26% increase in advances & 29.42% increase in total bsns
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BOB RIDING HIGH ON WINDFALL GAINS, NET UP 66%
Article Abstract:
The net profit of the Bank of Baroda (BOB) increased by 66 percent to Rs458.72 crore. BOB has declared a 30 percent dividend for 1997-98. Its net profit has increased by Rs169 due to a write back of depreciation in investments provided for the earlier years. The bank has marked to market 100 percent of its Rs10,119 crore gilts portfolio. Its deposits increased by 21 percent to Rs39,125.83 crore. Advances increased by 19.79 percent to Rs19,803.48 crore. BOB's total investments is estimated at Rs13,358.94 crore of which Rs3,239.94 crore is invested in corporate debt. (vv) --------------------------------------------------------- Financial Results of Bank of Baroda (Rs in crore) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Interest income 4,170.91 3,761.75 --------------------------------------------------------- Other income 543.29 458.64 --------------------------------------------------------- Interest expenses 2,837.53 2,551.80 --------------------------------------------------------- Operating expenses 1,070.63 892.14 --------------------------------------------------------- Provisions 347.31 499.90 --------------------------------------------------------- Net profit 458.72 276.53 ---------------------------------------------------------
Comment:
Reports increase in net profit by 66% to Rs458.72 crore, & declares 30% dividend for 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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PSBs WRITE OFF Rs2,800-Cr BAD DEBTS
Article Abstract:
The bad debts written off by 27 public sector banks (PSBs) amounted to Rs2,800 crore in 1997-98. State Bank of India (SBI) and Bank of Baroda (BoB) have registered 100 percent increase in bad debts written off in 1997-98. The financial institutions International Finance Corporation of India (IFCI), Industrial Development Bank of India (IDBI) and the Industrial Credit and Investment Corporation of India (ICICI) have also recorded 100 percent increase in bad debts written off. SBI has written off Rs666.80 crore in 1997-98 (Rs293 crore in 1996-97). BoB's bad debts write off increased to Rs157 crore from Rs70 crore in 1996- 97. Punjab National Bank had written off Rs372 crore (Rs150 crore). (rk)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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