labels: banks & institutions
BoP says there is no danger news
Our Banking Bureau
09 February 2002
New Delhi: Bank of Punjab (BoP), a private sector bank, has clarified that there is no danger to the operations of the bank that has been affected by wild rumours in some towns of Punjab.

In a release, BoP has pointed out that its net worth is Rs 204 crore as on 31 December 2001, and has been consistently paying dividend since its inception. The size of its balance-sheet is Rs 5,000 crore and the bank has achieved a growth of 43 per cent in net profit during the last quarter ended 31 December 2001.

BoP is also meeting all RBI statutory banking norms with a capital adequacy of 11.20 per cent against the statutory norm of 9 per cent. The bank is also carrying excess government securities over and above the specified requirement.

BoP has 80 banking offices along with a large number of ATMs, and its operations range from north India to Delhi, Mumbai, Ahmedabad, Rajasthan, Uttar Pradesh, Kolkata, Secundrabad and Chennai. The bank is also planning to open additional branches, including one in Bangalore, next week and plans to add 20 more centres by March.


 


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BoP says there is no danger