THE NEDUNGADI BANK LTD
Article Abstract:
The Nedungadi Bank Ltd has announced a dividend of 24 percent for the year ended March 31, 1998. (gsh) --------------------------------------------------------- Audited Financial Results: The Nedungadi Bank Ltd (Rs in lakh) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Deposits 83455.98 58344.40 --------------------------------------------------------- Advances 49291.03 36307.43 --------------------------------------------------------- Interest provision 7209.73 4961.19 --------------------------------------------------------- Operating Expenses 2851.51 2334.24 --------------------------------------------------------- Provisions & Contingencies 1093.59 671.35 --------------------------------------------------------- Net Profit 726.12 422.30 --------------------------------------------------------- Interest earned 10220.16 7333.72 --------------------------------------------------------- Other Income 1660.79 1055.36 ---------------------------------------------------------
Comment:
Declares 24% dividend for year ending 3/31/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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FEDERAL BANK NET PLUNGES TO Rs3.26 CRORE
Article Abstract:
The net profit of the Federal Bank of Alwaye has declined to Rs3.26 crore in the first half of 1998-99 compared to Rs28.30 crore in the first half of 1997-98. The bank says that the fall in profits is due to depreciation in government securities held in its investment portfolio, reduced interest spread and the impact of the recession. The bank's total business increased by 49 percent to Rs13,387 crore as on September 30, 1998, while deposits grew by Rs1951 crore while advances grew by Rs1161 crore. The bank's investment portfolio grew by 73 percent to Rs3077 crore and it earned a total income of Rs486.77 crore in the first half of 1998-99. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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