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Bank of
Rajasthan net profit rises by 25%
Our Banking
Bureau
26 June 2002
Mumbai:
Bank of Rajasthan has reported a 25-per cent rise in net
profit at Rs 40.31 crore for the year ended 31 March 2002
as compared to Rs 32.22 crore in the previous year.
 "After
six years, we have finally wiped out our entire accumulated
losses of over Rs 125 crore and we have registered a profit
of over 25 per cent," says Bank of Rajasthan chairman
Pravin Kumar Tayal.
"The prime lending
rate will be reduced by 50 basis points, a decrease of the
interest rate to 13.5 per cent from 14 per cent starting 1 July
2002," says Bank of Rajasthan managing director Dr K M
Bhattacharya.
Deposits grew by 12.08
per cent to Rs 3,959.98 crore in March 2002 from Rs 3,533.22 crore
in the previous year. Net advances grew by 5.21 per cent to Rs
1,955.96 crore this year (Rs 1,859.17 crore). The capital adequacy
ratio rose to touch 12.07 per cent from 10.57 per cent in the
previous year.
The total income rose to
touch Rs 549.81 crore this year (Rs 498.91 crore), while other
income increased to Rs 97.21 crore in  March
2002 from Rs 56.47 crore in the previous year. The total
expenditure increased to Rs 468.39 crore (Rs 441.19 crore).
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