BoI profits up 47%

During the nine months, the bank’s operating profit amounted to Rs 538 crore as against its operating profit of Rs 579 crore for the full year 1996-97. On a pro-rata basis, the average monthly operating profits for the nine months amounted to Rs 59.78 crore as compared to the monthly average of Rs 48.25 crore for the full year 1996-97.

The total domestic credit of the bank grew by Rs 766 crore, recording a 5.33 per cent rise during the first nine months. If non-SLR investments of credit nature are taken into account the increase in credit was Rs 1,242crore — a growth of 8.15 per cent.

The global advances of the bank stood at Rs 19,236 crore as compared to Rs 18,337 crore at March 1997. The domestic aggregate deposits of the bank stood at Rs 26,759 crore, registering a 7.32 per cent growth during the period. The global deposits of the bank stood at Rs 34,010 crore at end of December 1997, a 6.4 per cent increase over the March 1997 level.

Meanwhile, Bhide has decided to call it a day by putting in his papers.

“I have put in my papers purely for personal reasons,” he said, refuting reports about his alleged dispute with the board of directors.