HONGKONG BANK NET FALLS 17.9% IN INDIA
Article Abstract:
The Hongkong Bank has posted 17.9 percent drop in net profit to Rs72.74 crore in 1997-98. The decline in profit has been attributed to rise in provision for bad debts and doubtful assets at Rs44.23 crore in 1997-98. (gs) --------------------------------------------------------- Financial Results: Hongkong Bank (Rs in crore) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Net profit 72.74 88.50 --------------------------------------------------------- Deposits 5,493.00 4,514.00 --------------------------------------------------------- Provision for debts 44.23 15.24 --------------------------------------------------------- Advances 2,808.00 2,219.00 --------------------------------------------------------- Total income 832.55 737.62 --------------------------------------------------------- Interest income 630.31 596.99 --------------------------------------------------------- Other income 202.24 140.64 --------------------------------------------------------- Interest paid 379.46 384.94 ---------------------------------------------------------
Comment:
Posts 17.9% drop in net profit to Rs72.74 crore in 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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PUNJAB & SIND BANK TRIPLES NET
Article Abstract:
Punjab & Sind Bank has posted a three-fold increase in net profit to Rs65 crore for 1997-98 compared to the net profit posted in 1996-97. The bank has achieved a major turnaround in 1997-98 after incurring a net loss of Rs132 crore in 1995-96. The aggregate deposit of the bank increased by 19 percent to Rs7,609 crore. Its capital adequacy ratio (CAR) has risen to 11.39 percent (9.23 percent in 1996-97). (gs)
Comment:
Posts a three-fold increase in net profit to Rs65 crore for 1997-98 compared to the net profit posted in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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