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IDBI bottomline grows 34%

July 30 (PTI): The Industrial Development Bank of India today reported a 34.2 per cent increase in net profit for the quarter ended June 30, this year at Rs 51 crore as against Rs 38 crore in the same period last year.

IDBI’s income declined by 5.71 per cent to Rs 1,575 crore in the reporting quarter as against Rs 1,665 crore recorded during the same period last year, a release said.

The total borrowings/withdrawals (both in rupee and foreign currency) during April-June 2003 stood at Rs 2,776 crore compared with Rs 1,942 crore raised during the same period last year.

The rupee borrowings aggregating Rs 2,397 crore comprised mobilisation through Omni bonds (Rs 1,056 crore), public bonds under Flexibonds (Rs 486 crore), fixed deposits (Rs 269 crore), certificates of deposits (Rs 7 crore), short-term deposits (Rs 199 crore) and commercial paper (Rs 380 crore).

BoB net up 34%

Bank of Baroda has posted a 33.71 per cent rise in net profit at Rs 244.47 crore for the first quarter ended June 30, this year as against Rs 182.84 crore in the corresponding previous quarter.

The total income for the reporting quarter was up by 6.07 per cent at Rs 1,796.97 crore as against Rs 1,694.13 crore in April-June 2002, BoB said in a release here today.

Interest income grew by 5.38 per cent at Rs 1,586.88 crore (Rs 1,505.84 crore), the release said.

Global advances grew to Rs 33,052 crore (Rs 31,747.27 crore) while global deposit base rose by 3.66 per cent to Rs 65,398 crore as on June 30. The total business grew by Rs 3,618.45 crore to Rs 98,450.07 crore in the reporting period. The cost of deposits declined to 5.29 per cent as on June 30 as against 5.99 per cent year-on-year.

Net non-performing profits were down to Rs 1,242.26 crore (3.82 per cent) as on June 30, 2003 from Rs 1,737.69 crore (5.58 per cent) at the end of June 2002.

Canara posts profit

Canara Bank today reported a robust 81.91 per cent jump in net profit at Rs 255.85 crore for the quarter ended June 30, 2003 compared with Rs 140.65 crore in the corresponding previous quarter.

Total income rose by 8.73 per cent to Rs 2,063 crore from Rs 1,898 crore in the corresponding period last year.

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