36 listed banks report high profitability
Mumbai: Thirty-six listed banks have posted a 37.6 per cent growth in net profit for the quarter ended June 30, 2003 mainly due to a rise of 53 per cent in other income.

These banks have generated a net profit of Rs 3,893 crore during April-June 2003 as against Rs 2,829 crore during corresponding period in 2002. Other income of these banks rose by 53.2 per cent to Rs 6,175 crore from Rs 4,031 crore, while interest spread displayed a modest rise of 21.2 per cent from Rs 7,945 crore to Rs 9,628 crore.

Private banks out-performed public sector (PSB) peers by reporting higher growth in income and profits.

Sixteen PSBs posted a net profit growth of 34.7 per cent to Rs 2,855 crore (Rs 2,119 crore), while 20 private banks reported a 46.1 per cent rise in net profit to Rs 1,038 crore(Rs 710 crore).

Among PSBs Dena Bank recorded a 727.2 per cent rise in net profit to Rs 29.20 crore (Rs 3.53 crore).

Allahabad Bank was next with a 138.7 per cent rise in net profit, while Vijaya Bank ranked third with 98.4 per cent growth.

Other PSBs reporting growth in net profit include State Bank of Mysore (89.7 per cent), Canara Bank (81.9 per cent), State Bank of Travancore (50.2 per cent), State Bank of Bikaner & Jaipur (47.9 per cent) and Andhra Bank (42.8 per cent). State Bank of India, however, reported a modest growth of 19.7 per cent in its bottomline to Rs 913.50 crore.

Bank of India had the lowest growth in net profit among listed PSBs at Rs 203.92 crore or 15.1 per cent.

Among private banks, Federal Bank reported a 114.9 per cent rise in net profit to Rs 37.43 crore, followed by Bank of Rajasthan (100.9 per cent), IDBI Bank (100.6 per cent), Indian Overseas Bank (90.2 per cent), Lakshmi Vilas Bank (80.7 per cent), Karnataka Bank (67.5 per cent) and Kotak Mahindra Bank (65.0 per cent). Centurion Bank turned around, netting a profit of Rs 40 lakh from a loss of Rs 3.66 crore.
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ABN net up 13 percent
Mumbai: ABN Amro Bank’s Indian operations have turned in a net profit of Rs 146.1 crore in the year ended March 31, ’03, up by 13 percent over the previous year’s corresponding figure of Rs 127.8 crore.

The bank’s treasury income and other fee-based activities rose 22 percent to Rs 253.1 crore against Rs 196.1 crore during the year ended March 31, ’02. The Dutch bank’s interest income during the year under review dropped 2 percent to Rs 742.5 crore from Rs 756.3 crore in the previous year. Total income during the year stood at Rs 995.6 crore (Rs 952.4 crore).

The bank’s operating expenses during the year rose 17 percent to Rs 325.8 crore from Rs 269.5 crore in the previous year mostly as a result of the bank’s expansion of its operations in the country. Total deposits during the year rose marginally by 3 percent to Rs 5,022.3 crore from Rs 4,865.3 crore in the previous year. Advances were up by 18 percent to Rs 5,447.1 crore from Rs 4486.6 crore in the previous year.
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