Financial Daily from THE HINDU group of publications
Tuesday, Jul 13, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 13, 2004 |
||
|
|
||
|
Money & Banking
-
Financial Performance Corporate Results - Private Banks IndusInd Bank posts Rs 262-cr net; plans buys in near future Our Bureau
New Delhi , July 12 WHILE reporting a net profit of Rs 262.07 crore for 2003-04 against Rs 90.17 crore in the previous year, IndusInd Bank has said it plans to acquire a bank or a NBFC in the near future. IndusInd Bank had recently announced the merger of Ashok Leyland Finance with itself. "Our plans include the likely acquisition of a bank or NBFC," the Executive President, IndusInd Bank, Mr Moses Harding, said today. He said that the bank's board has already started work in this regard. Mr Harding said that the bank might also set up a capital market subsidiary, a mutual fund and consultancy services during the year in a phased manner. It is also looking at opening an overseas branch. The bank has announced a total dividend of 22.5 per cent for its shareholders for 2003-04 that includes a special dividend of five per cent given earlier on the occasion of 10th anniversary of the bank. After merging Ashok Leyland Finance with Rs 4,200 crore assets, the bank's total asset base has gone up to Rs 15,000 crore, Mr Harding said. Total advances recorded a 46 per cent growth to Rs 7,812 crore compared to 14.8 per cent growth among scheduled commercial banks. IndusInd's total deposits were up by 30 per cent to Rs 11,000 crore. The bank has cut down its net NPAs to 2.72 per cent of net advances last fiscal as compared to as high as 4.25 per cent in 2002-03. Capital adequacy ratio improved to 12.75 per cent during 2003-04 compared to 12.13 per cent in the previous year.
More Stories on : Financial Performance | Private Banks
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|