Catholic Syrian Bank achieves double growth in FY 12
By Joseph Samson
Jun 13, 2012
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Private sector lender, Catholic Syrian Bank issued an official statement which said that the bank's business has shown a growth of more than 22 per cent for the fiscal year 2011-12. During this time the bank's total deposits increased by about 22 per cent, which is 9% more than the industry average of 13 per cent.

The net profit has risen by 112.72 per cent this financial year. It was Rs 12.18 crore in the financial year11 and it is Rs 25.90 crore in Financial Year 12.

The operating profit increased by 178.14 per cent this financial year. It was Rs 33.62 crore last year and increased to Rs 93.50 crore this year.

In almost every aspect the bank is fared well above its competitors. As on March 31, the gross business done by the bank crossed Rs 18,250 crore.

The NPAs of the bank have decreased. The gross NPA has decreased by 0.69%, from 3.05 per cent in FY 11 to 2.36 per cent in FY 12. Similarly, the net NPA has declined to 1.10 per cent from 1.74 per cent.

The books showed a growth in advances of 23.21 per cent which again surpassed the industry average of 16.80 per cent.


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