WILL THEY BANK ON THE GROWTH PATH SOON? - STATE BANK OF INDIA
Article Abstract:
The stocks of State Bank of India (SBI) are losing favour among the investors following their poor performance during 1997-98. During this period, SBI sanctioned loans and non-fund facilities of Rs37.2 billion for 22 projects. During the period, the net interest margin fell by 60 basis points while the non-interest income fell by five percent on a year-on-year basis. The provisions and tax fell by 38 percent resulting in a 10 percent rise in the net profit. Loans are expected to fuel SBI's growth during 1998-99. It is expected to post a 22 percent rise in the operating income on a year-on-year basis and a seven percent rise in the net profit. SBI is expected to concentrate on new products like project loans, trade finance and housing loans. (ag) ------------------------------------------------------------ Financial Results: State Bank of India (Rs in million) ------------------------------------------------------------ Particulars 1997-98 1998-99 (Estimates) ------------------------------------------------------------ Net interest income 52,788 64,003 ------------------------------------------------------------ Non-interest income 28,202 32,215 ------------------------------------------------------------ Total operating revenue 80,990 96,217 ------------------------------------------------------------ Operating expenses 47,209 54,905 ------------------------------------------------------------ Operating profits 33,781 41,312 ------------------------------------------------------------ Net Profit 18,612 19,918 ------------------------------------------------------------
Comment:
Stocks of co are losing favour among the investors following their poor performance during 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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WILL THEY BANK ON THE GROWTH PATH SOON? - CORPORATION BANK
Article Abstract:
Corporation Bank has posted a 20 basis points fall in its net interest margins during 1997-98. During this period, the non interest income increased by 29 percent while the operating profit grew by 23 percent and the net profit grew by 31 percent. Corporation Bank is expected to post a 25 percent rise in its network to 750 branches in March 2000 (581 in March 1988). The new branches are expected to come up in the North, West and East zones. The bank proposes to raise its presence in all the top 100 centres. (ag) ------------------------------------------------------------ Financial Results: Corporation Bank (Rs in million) ------------------------------------------------------------ Particulars 1997-98 1998-99 (Estimates) ------------------------------------------------------------ Net interest income 3,884 4,712 ------------------------------------------------------------ Non-interest income 1,441 1,814 ------------------------------------------------------------ Total operating revenue 5,325 6,547 ------------------------------------------------------------ Operating expenses 2,296 2,699 ------------------------------------------------------------ Operating profits 3,028 3,850 ------------------------------------------------------------ Net Profit 1,669 2,110 ------------------------------------------------------------
Comment:
Posts net profit of Rs1,669 mil for year ended 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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