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UTI Bank first-quarter net profit at Rs 52 crore

Mumbai, July 22: UTI Bank Ltd has posted a 45.02 per cent rise in net profit at Rs 52.18 crore for the first quarter ended June this year as against Rs 35.98 crore in the corresponding previous quarter. Total income for the reporting quarter rose to Rs 544.2 crore from Rs 391.8 crore in 2002-03, the private sector bank said in a release here today. Net interest income grew by 109.44 per cent at Rs 120.20 crore in the first quarter.

UTI Bank’s asset size in the balance sheet stood at Rs 18,585 crore while the deposit base grew to Rs 16,410 crore as on June 2003, it said.

Net worth of the bank stood at Rs 971.74 crore as on June 30 compared with Rs 650.81 crore year-on-year while capital adequacy ratio was at 10.71 per cent in June as against 10.9 per cent at the end of March, 2003.

The bank will raise Rs 100 crore as tier II capital, which will further raise the CAR.

BoR net up

Low cost deposits propelled Bank of Rajasthan (BoR) to post a 101.02 per cent rise in net profit at Rs 25.59 crore for first quarter ended June 30, this year as against Rs 12.73 crore recorded in the same period last year.

Total income during the period under review increased to Rs 158.39 crore as against Rs 133.7 crore year-on-year, BoR chairman P. K. Tayal told newspersons here today.

Interest earned was higher at Rs 120.56 crore (Rs 116.18 crore) while other income swelled to Rs 37.83 crore (Rs 17.52 crore).

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