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BoB net up 39% at Rs 137 cr

Oct. 28: Bank of Baroda has posted a 39.39 per cent rise in net profit at Rs 137.22 crore for the second quarter ended September 30, 2002, compared with Rs 98.44 crore in same period of previous fiscal.

Total income in the period under review also increased to Rs 1,907.97 crore as against Rs 1,727.04 crore in the second quarter of last fiscal, the bank informed the Bombay Stock Exchange today.

PNB net up 24.9%

Punjab National Bank today announced a 24.9 per cent growth in net profit at Rs 411.09 crore during the first half of this fiscal as compared with Rs 329.09 crore in April-September 2001.

Total income of the bank increased to 39.6 per cent to Rs 1,127.68 crore during the first half as against Rs 807.89 crore during the year-ago period.

Announcing the results, PNB chairman S. S. Kohli said, “The bank could achieve Rs 411.09 crore net profit after making provisions of Rs 716.59 crore towards income tax, NPAs, standard assets and depreciation.”

Total deposits of the bank grew 9.1 per cent to Rs 66,680 crore till September 2002 as against Rs 61,099 crore a year ago, while advances grew by 16.3 per cent to Rs 34,450 crore.

Oriental Bank net up

Oriental Bank of Commerce today posted a 26.2 per cent increase in net profit at Rs 215.75 crore in the first half this fiscal.

The total business of the bank grew by 13.78 per cent to Rs 43,686 crore in April-September 2002, an OBC release said here.

Deposits rose by 10.75 per cent to Rs 29,153 crore in the first half, while advances were up by 20.39 per cent to Rs 14,533 crore in the same period, it said.

OBC chairman B. D. Narang said, “The bank will continue to improve performance not only by improving productivity but also by offering new and diversified products to customers.”

BoI net up 43%

Bank of India (BoI) has posted a 43 per cent rise in net profits for the second quarter ended September 30. Net profits rose to Rs 194.43 crore against Rs 135.16 crore in the same period of the previous year.

During the quarter, total income jumped to Rs 1869.01 crore (Rs 1713.32 crore). The bank added that operating profit was also up 36 per cent to Rs 844 crore. Gross non performing assets of the bank declined to 8.94 per cent from 10.62 per cent at September-end 2001.

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