- News>
- Finance & Markets
ABN net climbs 13% to Rs 146 cr
Mumbai, Aug 12: The Indian operations of ABN Amro Bank have turned in a net profit of Rs 146.1 crore during the year ended March 31, `03, higher by 13% over the previous year`s corresponding figure of Rs 127.8 crore.
ABN Amro’s operating expenses during the year rose 17% to Rs 325.8 crore from Rs 269.5 crore in the previous year mostly as a result of the bank’s expansion of its operations in the country. Total deposits during the year rose marginally by 3% to Rs 5,022.3 crore from Rs 4,865.3 crore in the previous year. Advances were up by 18% to Rs 5,447.1 crore from Rs 4486.6 crore in the previous year.
ABN Amro’s capital adequacy ratio during the year ended March 31, ’03 stood at 12.6% against the previous year’s 13.2% while net non-performing assets were at 1.5% against 1.3% during the year ended March 31, ’02. The bank’s ratio of interest income to working funds during the year dropped to 7.2% from 8.5% in the previous year.
Bureau Report