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Audited financial Results FOR THE QUARTER ended June 30, 1998

(Rs. in lacs)

Sr. No. Particulars Quarter ended 30.06.98 Quarter ended 30.06.97 Year ended 31.03.98
1 Interest Income

10242

6112

25970

2 Other Income

1874

2165

8505

3 Total Income

12116

8277

34475

4 Interest Expenditure

7632

4175

18668

5 Other Expenditure

1217

1092

4314

6 Total Expenditure

8849

5267

22982

7 Gross Profit (+) / Loss (-) after interest but before depreciation and taxation

3267

3010

11493

8 Depreciation on fixed assets

400

236

1447

9 Profit before provisions, contingencies and taxes

2867

2774

10046

10 Provisions and contingencies

1193

1370

5024

11 Net Profit

1674

1404

5022

12 Paid up Equity Share Capital

16500

16500

16500

13 Reserves (Excluding Revaluation reserves)

11849

8342

10175

14 Total deposits

367784

142090

262902

15 Total advances

121342

82802

112787

 

Notes :

  1. The Bank has raised subordinated debt (Tier II capital) of Rs.100 crores during the quarter.
  2. Depreciation on Investments and provision for non-performing assets have been estimated for the whole year and prorated.
  3. The above results have been taken on record by the Board of Directors of the Bank at its meeting held on July 17, 1998