Bizbits 8212; EOU, EPZ norms eased

NK Coop Bank

MUMBAI: The North Kanara G S B Co-Operative Bank, a leading co-coperative scheduled bank has reported an all-round improvement for the year ended March 1997. The bank8217;s gross profit rose by 25 to Rs 5 crore and deposits grew by 40 at Rs 210 crore compared to Rs 150 crore in the previous year. The net profit has recorded a rise of 46 at Rs 3.18 crore.

S R Borkar, chairman of the bank, announced a dividend of 15 . In spite of depressed market conditions, advances rose by Rs 17 crore at Rs 121 crore from Rs 104 crore in the earlier year. The bank has plans to open four more branches in Vile Parel, Thane, Nashik and Phonda in Goa.

ANZ Bank

MUMBAI: ANZ Investment Bank ANZIB has been appointed as the financial advisor for the proposed 700-MW dual fuel fired combined cycle power project at Dholpur in Rajasthan. The project, sposored by RPG Enterprises, is being developed by the RPG Dholpur Power Company Ltd. The entire capacity from the plant is being purchased by the Rajasthan State Electricity Board RSEB to meet the power needs of the state. The Dholpur power plant will be based on the environment friendly naphtha-based combined cycle technology.