State Bank of Bikaner & Jaipur net profit increases by 24%

By Our Banking Bureau | 31 May 2003

1
Mumbai: A 13 per cent increase in both non-interest income and other income has enabled State Bank of Bikaner and Jaipur (SBBJ) to record a 24-per cent increase in its net profit for the financial year ended 31 March 2003 at Rs 203.28 crore, as compared to Rs 164.50 crore in the corresponding period the previous year.

SBBJ managing director N K Puri says the bank's board has proposed a 50-per cent dividend for its shareholders subject to Reserve Bank of India approval. "Our aim is to garner at least 50 per cent of business from outside Rajasthan. At present, around 70 per cent of the bank's business is from Rajasthan itself."

The bank has targeted a net profit of Rs 250 crore for the current fiscal, a deposit growth of Rs 2,500 crore and an increase in advances by Rs 1,450 crore.

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