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Tuesday, Jul 30, 2002

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Bank of Rajasthan Q1 net rises

Our Bureau

MUMBAI, July 29

THE net profit of the Bank of Rajasthan has risen marginally by 1.03 per cent to Rs 12.73 crore for the quarter ended June 30, 2002 from Rs 12.60 crore for the quarter ended June 30, 2001.

"The bank did well this quarter. We have made tremendous progress in modernising our network of branches and in NPA recovery," according to Mr Praveen Kumar Tayal, Chairman, Bank of Rajasthan.

Gross NPAs declined 16.90 per cent this quarter from 17.44 per cent. Investments grew by 27.77 per cent to touch Rs 2,058.72 crore (Rs 1,611.23 crore).

Deposits grew by 11.23 per cent to Rs 3,844.57 crore in the first quarter as against Rs 3,456.34 crore. Net advances grew marginally to Rs 1,801 crore from Rs 1,767.72 crore.

The bank's CRAR has increased to 13.42 per cent from 11.60 per cent in the previous quarter.

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