State Bank Of Patiala Net Up 45%

State Bank of Patiala (SBP) has reported a growth of 44.59 per cent in its net profit which rose to Rs 232.94 crore during 2001-02, against Rs 161.10 in the previous financial year.

In a statement, SBP said that capital adequacy had improved to 12.55 per cent from 12.37 per cent and the earnings per share was at Rs 941 a share and book value of a Rs 100 share was Rs 4,614 a share.

The bank's return on equity and return on assets rose from 17.31 per cent and 1.12 per cent to 20.4 per cent and 1.34 per cent, respectively. In a statement, SBP said that its net worth had risen to Rs 1,142 crore at the end of March this year from Rs 931 crore in 2000-01.

 

The bank's gross NPA came down marginally from Rs 694.76 crore at the end of 2000-01 to Rs 628.02 crore at the end of the last financial year and was estimated at 6.94 per cent of advances as against 9.66 per cent in the previous year. Net NPAs were down to 2.94 per cent from 4.92 per cent.

SBP had aggregate deposits of Rs 13,761 crore at the end of March, an increase of 20.58 per cent over March 2001. Advances grew 25.86 per cent to reach 9052 crore at the end of march this year and business touched Rs 23,000 crore, a rise of 23 per cent over the previous year.