Bank of Rajasthan net NPA down from 2.5 to 0.99 pc

Mumbai, June 27 (UNI) Leading private sector bank, The Bank of Rajasthan has reduced the net NPA (Non Performing Assets) significantly from 2.5 per cent last financial year to just 0.99 percent during the financial year ended March 31 this year.

Accordingly, the Bank's net NPA stands at Rs 40.18 crore, an official release said here today.

Also, the Bank has been able to considerably reduce the gross NPA from 5.34 percent in the last financial year to 3.26 percent during the financial year ended March 31 this year. The gross NPA has come down from Rs 159.18 crore to Rs 135.51 crore during the one year.

It has also recorded an impressive progress in the net advances as there has been a growth of 40.36 per cent increase in net advances of the bank during the year. The net advances during the year 2005-06 stood at Rs 4,064.97 crore against Rs 2,896.17 crore of previous financial year.

During the year 2005-06, the Bank of Rajasthan's net loss has decreased to Rs 4.82 crore for the quarter March'06 from Rs 12.09 crore for the quarter March'05. The profit for the year ended March 31, 2006 is Rs 15.25 crore and the Board of Directors, which met today, has recommended a dividend of 2.50 percent.

Keeping in view the rising interest rate scenario, the investments have been brought down from Rs 3,514.17 crore as on 31.3.05 to Rs 2,566.54 crore as on 31.3.06. The M-duration investment portfolio (HFT and AFS categories) has also been brought down to 2.74 as on 31.3.06 from 4.84 as on 31.3.05 and presently is 1.58.

The core deposits have increased by 14.73 percent to Rs 7,466.41 crore as on 31.3.06 from Rs 6,508.08 crore as on 31.3.05. The CAR (capital adequacy ratio) stood at 10.60 as on 31.3.06 after implementing RBI guidelines for market risk on securities held under 'HFT' and 'AFS' categories.

UNI SN KU NV2052