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GTB net dips to Rs 4.91 cr

Our Bureau

HYDERABAD, Oct. 29

THE Global Trust Bank recorded total income of Rs 235.73 crore and a net profit of Rs 4.91 crore for the quarter ended September 30, 2001 as against a total income of Rs 228.19 crore and a net profit of Rs 31.44 crore for the corresponding quarter last y ear.

For the half-year ended September 30, 2001, the bank's total income stood at Rs 496.71 crore with a net profit of Rs 21.21 crore as against total income of Rs 487.56 crore and a net profit of Rs 68.60 crore for the corresponding period last year. In fisc al 2000-2001, the bank had recorded total income of Rs 1,061.94 crore and a net profit of Rs 80.33 crore.

The board of directors of GTB, which met on Monday to take on record the performance for the quarter, maintained that the performance status of capital market exposure, including exposure against shares are being assessed with reference to security, rec overy proceedings. This is planned to be dealt with adequately by the end of the year after full exercise is completed.

Mr R.S. Hugar, Chairman and Managing Director of GTB, said, ``we are confident of achieving business levels of Rs 13,500 crore by March 2002. To support this, we are strengthening staff by adding 100 more employees by March.''

``We are planning to open further 14 branches taking the total to 100 branches before March 2002 and grow the ATM network to 200. Our difficult phase is over an we are looking forward to growth,'' he said.