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Global Trust Bank H1 net up 51 pc

HYDERABAD: Global Trust Bank Ltd (GTB) has registered a growth of 44.34 per cent in deposits, 33.56 per cent in advances and 51.27 per cent in net profit for the six-month period ended September 30, 2000.

According to the unaudited financial results taken on record by the GTB board on Tuesday for the first half of current fiscal year, the bank had achieved deposits of Rs 6,641 crore (Rs 4,601 crore), advances of Rs 3,347 crore (Rs 2,506 crore) and a net p rofit of Rs 68.61 crore (Rs 45.36 crore) on an equity of Rs 121.36 crore (Rs 104 crore).

For the second quarter ended September 30, 2000, the bank achieved an interest income of Rs 212.51 crore (Rs 142.24 crore), other income of Rs 15.68 crore (Rs 48.15 crore) and a net profit of Rs 31.44 crore (Rs 24.3 crore).

For the quarter under review, the bank had incurred an operating expenditure of Rs 24.56 crore (Rs 18.45 crore) and provided Rs 162.47 crore towards interest expense (Rs 118.71 crore), Rs 11.01 crore towards depreciation (Rs 10.98 crore), Rs 3.91 crore t owards other provisions (Rs 10.17 crore) and Rs 2.62 crore towards taxation (Rs 7.78 crore).

For first half of 2000-01, GTB achieved an interest income of Rs 417.38 crore (Rs 278.29 crore) and other income of Rs 70.18 crore (Rs 94.61 crore). During this period, the bank incurred an operating expenditure of Rs 56.95 crore (Rs 35.3 crore) and prov ided Rs 314.92 crore towards interest expense (Rs 241.59 crore), Rs 21.91 crore towards depreciation (Rs 21.55 crore), Rs 9.39 crore towards other provisions (Rs 14.87 crore) and Rs 16.79 crore towards taxation (Rs 14.23 crore). -Our Bureau