UTI Bank has seen 45 per cent surge in its net profit to Rs 174.69 crore in the quarter ended June 30, 2007 against Rs 120.05 crore in the previous quarter. | |
| The profit is largely driven by growth in other income, trading profit and core business growth. Total income for the period has increased to Rs 1879 crore against Rs 1,154.40 crore. |
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| Fee and other income in the first quarter of 2007 was Rs 271.53 crores up 47 per cent from Rs 184.55 crore. Net interest income has grown by 38.84 per cent to Rs 446.83 crore. Its net advances have grown by 60 per cent to Rs 41,285 crore against Rs 25,836 crore. |
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| The bank's deposit base has seen 45 per cent growth to Rs 61,091 crore. Its net interest margin has risen to 2.72 per cent from 2.68 per cent, while the cost of funds has increased to 6.43 per cent from 5.45 per cent. |
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| Its capital adequacy ratio stands at 11.50 per cent. The bank is planning to raise close to Rs 4,000 crore through qualified institutional placement, issuance of global depository receipts and preferential offer to existing shareholders. |
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| This is higher than the earlier proposed capital raising of about Rs 2,000 crore. The bank's capital adequacy ratio (CAR) post-GDR will be little over 13 per cent. |
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| If the preferential offer of shares is subscribed by the promoters the CAR will rise further. Its non performing assets at the end of the first quarter was at 0.59 per cent. |
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