STATE BANK OF INDORE
Article Abstract:
The State Bank of Indore has declared its profit and loss account for the year ended March 31, 1998. (khr) --------------------------------------------------------- Financial results of State Bank of Indore (Rs in 000's) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Deposits 33,687,847 27,971,452 --------------------------------------------------------- Advances 19,016,526 16,069,649 --------------------------------------------------------- Interest earned 4,073,161 3,782,152 --------------------------------------------------------- Other income 725,896 526,016 --------------------------------------------------------- Total expenditure 4,521,914 4,137,548 --------------------------------------------------------- Net profit 277,143 170,620 ---------------------------------------------------------
Comment:
Reports increase in net profit to Rs277,143,000 in year ending 3/31/98 from Rs170,620,000 in 1996/97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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STATE BANK OF INDIA - TAKING BANKING INTO THE NEXT MILLENNIUM
Article Abstract:
Mr MS Verma, chairman of State Bank of India, in his address to the 43rd annual general meeting of shareholders in Mumbai on August 6, 1998 announced that the bank had recorded a 40 percent rise in net profit amounting to Rs1,861.20 crore in 1997-98. This was achieved despite economic slowdown, inadequate credit offtake, fierce competition and narrowing spreads. The bank completed computerisation of 1,200 branches during the year. The computerised branches account for 36 percent of the bank's deposits, 58 percent of advances and 72 percent of forex turnover as of March 1998. The overhead expenses of the bank went up 15.60 percent in 1997-98 compared to 2.79 percent in 1996-97 in the total net income. (gsh)
Comment:
Reports a 40% increase in net profit amounting to Rs1,861.20 Crore for 1997-98 despite economic problems
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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