Financial Daily from THE HINDU group of publications
Saturday, Jan 26, 2002
Financial Daily from THE HINDU group of publications Saturday, Jan 26, 2002 |
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Money & Banking
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Private Banks Corporate Results - Private Banks South Malabar Gramin posts profit Our Bureau
KOCHI: South Malabar Gramin Bank has made an operating profit of Rs 12.6 crore for the quarter ended December 2001. The total earnings of the bank went up to Rs 75.3 crore (Rs 61.4 crore), while the expenditure grew to Rs 62.7 crore (Rs 47.5 crore). The spurt in expenditure was due mainly to an increase in the wage bill and the payment of arrears, the Chairman, Mr T. Thomas Mathew, said in a statement. As on December 2001, it had a total business turnover of Rs 1,129 crore, a deposit base of Rs 521 crore and advances of Rs 608 crore. With a C-D ratio of 117 per cent, the bank continues to be the top RRB in terms of the total advances outstanding as well as in disbursement, the statement added.
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