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. The growth in the bank’s profits has been aided by its treasury income and other fee-based activities which rose 22% to Rs 253.1 crore against Rs 196.1 crore during the year ended March 31, ’02. The Dutch bank’s interest income during the year under review dropped 2% to Rs 742.5 crore from Rs 756.3 crore in the previous year. Total income during the year stood at Rs 995.6 crore (Rs 952.4 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