Thirty-six listed banks have posted a 37.6 per cent growth in net profit for the quarter ended June 30, 2003, on the backed of a 53 per cent rise in other income.

They have generated a net profit of Rs 3,893 crore (Rs 38.93 billion) during April-June 2003 as against Rs 2,829 crore (Rs 28.29 billion) during the corresponding period in 2002.

This was mainly because the other income rose by 53.2 per cent to Rs 6,175 crore (Rs 61.75 billion) from Rs 4,031 crore (Rs 40.31 billion), while interest spread displayed a modest rise of 21.2 per cent from Rs 7,945 crore (Rs 79.45 billion) to Rs 9,628 crore (Rs 96.28 billion).

Private banks out-performed their public sector (PSB) peers by reporting higher growth in income and profits.

Sixteen PSBs has posted a net profit growth of 34.7 per cent to Rs 2,855 crore (Rs 28.55 billion), while 20 private banks reported a 46.1 per cent rise in net profit to Rs 1,038 crore (Rs 10.38 billion).

Among PSBs, Dena Bank continued its record growth in net profit during the first quarter of 2003-04.

The bank topped the bottomline growth list by notching a 727.2 per cent rise in net profit to Rs 29.20 crore (Rs 292 million).

Allahabad Bank came second with a 138.7 per cent rise, while Vijaya Bank ranked third with 98.4 per cent growth.

The other PSBs which had handsome growth in net profit include State Bank of Mysore (89.7 per cent), Canara Bank (81.9 per cent), State Bank of Travancore (50.2 per cent), State Bank of Bikaner & Jaipur (47.9 per cent) and Andhra Bank (42.8 per cent).

Industry major State Bank of India, however, reported a modest growth of 19.7 per cent in its bottomline to Rs 913.50 crore (Rs 9.13 billion).

Bank of India had the lowest growth in net profit among listed PSBs at Rs 203.92 crore (Rs 2.04 billion) or 15.1 per cent.

Among listed private banks, Federal Bank topped with a 114.9 per cent rise in net profit to Rs 37.43 crore (Rs 374.3 million), followed by Bank of Rajasthan (100.9 per cent), IDBI Bank (100.6 per cent), Indian Overseas Bank (90.2 per cent), Lakshmi Vilas Bank (80.7 per cent), Karnataka Bank (67.5 per cent) and Kotak Mahindra Bank (65 per cent).

Centurion Bank turned around, netting a profit of Rs 40 lakh (Rs 4 million) from a loss of Rs 3.66 crore (Rs 36.6 million).

During the quarter, these 36 banks earned an interest income of Rs 27,272 crore (Rs 272.72 billion), up 3.7 per cent.

Interest outgo declined marginally by 3.8 per cent from Rs 18,348 crore (Rs 183.48 billion) to Rs 17,644 crore (Rs 176.44 billion).

Tax and other provisions up by 61.6 per cent to Rs 4,916 crore (Rs 49.16 billion), while operating expenditure saw a rise of 14.5 per cent to Rs 6,993 crore (Rs 69.93 billion).