Sunday, June 7, 2009

TJSB gross profit at Rs 58.92 crore

The city-based Thane Janata Sahakari Bank (TJSB) today announced that its gross profit stood at Rs 58.92 crore and the financial turnover of its forex business was Rs 419.09 crore for the current fiscal, as against Rs 330 crore for the previous fiscal.

''The Capital to Risk Assets Ratio (CRAR), one of the most important financial parameters to indicate the financial soundness of the bank stands at 15.16 per cent as against required ratio of 9.00 per cent as per the RBI guidelines. This itself is an indication of the Bank's strong sustainable financial position,'' Bank Chairman Vidya Vaishampayan said, addressing the media on performance of the Bank, during the fiscal ending March 2009.

The gross non-performing assets of the bank stood at 6.24 per cent as against 6.67 per cent for the previous year and the net non-performing assets were zero.

''The credit deposit ratio of the Bank remained at 64.12 per cent indicating that the credit growth was in accordance with the deposit growth rate. The bank's profitability continued to remain higher due to timely pricing policy followed by the Board of directors in line with the marker scenario and strict monitoring process of asset quality,'' Mr Vaishampayan said.

He said that the bank's growth on deposit mobilization was 15.17 per cent as against 13.00 per cent of the private sector commercial banks.

The Bank Chief Executive Officer Ravindra Karve, said that in the current financial year the bank has a prestigious goal to attain Top Line growth to ensure business mix of Rs 5,000 crore, a 30 per cent growth over Rs 3,855 crore of the last fiscal.

Mr Vaishampayan said that the Bank has also been awarded with a ''P2'' CRISIL rating, incating the high level of security it provides.

The Bank is also planning to provide technology services to other banks through its 100 per cent IT subsidiary.

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