SBBJ registers 110 per cent rise in profit, declares 100% dividend

Jaipur, Apr 27 (UNI) Achieving all round impressive performance during the year 2006-2007, the State Bank of Bikaner and Jaipur (SBBJ) has registered all time high business growth and profit increase of 110.9 per cent.

The business of the bank grew up by all time high of Rs 11,456 crore to reach the level of Rs 49,246 crore and posted net profit of Rs 305.80 crore, the bank Managing Director SK Bhattacharya told reporters here today.

Mr Bhattacharya said that his bank had performed well on all fronts to emerge as a growing, healthy and well managed bank and the rise in the net profit by more than two times itself spoke of the bank's performance.

He said that the bank had recorded a growth of Rs 6,786 crore in its deposits to touch up the mark of Rs 28,480 crore where as advances had grown up by Rs 4670 to reach the level of Rs 20,766 crore.

The bank's capital adequacy ratio stood at 12.89 per cent well above the Reserve Bank of India (RBI) bench mark of 9 per cent where as gross non performing assets (NPA) ratio had been brought down from last year's 2.42 per cent to 2.23 per cent.

Mr Bhattacharya said that the bank had also performed well in agriculture sector advances and other priority sector advances and realised all aspirations of the government.

The good perfomance had enabled the bank's Board of Directors to declare 100 per cent dividend to its share holders against the last year's dividend of 65 per cent, Mr Bhattacharya added.

UNI