Aug 17 - 23, 1996

Schon Bank increased their deposit base by almost 55% over the past year to Rs 2.71 billion, climbing almost 29% in the last six months. Savings accounts contribute the most to total deposits at 42%.

Their loan portfolio increased more than 58% over the last year, but has fallen from Rs 1.642 billion end December 1995 to Rs 1.532 billion at the end of June 1996; a 7% drop.

Income came mostly from interest returns which rose 35% year-on-year to Rs 194 million, and the other main source of earnings, commission, exchange, and brokerage increased 6% to Rs 52 million. Total non-interest income rose 12% to Rs 56 million. Rs 3.3 million worth of income is shown under "other receipts", which increased 245% over the year and for which there are no explanatory notes in the report.

Interest expenditure rose 26% from Rs 81 million to Rs 102 million, and non-interest expenditure rose by as much as 51% from Rs 43 million to Rs 65 million. Salaries also rose 43% over the year, while other expenditure increased 121%.

Pre-tax profits were up 19% from Rs 70 million to Rs 83 million. After-tax profits registered a slightly lower increase of 17% from Rs 30 million to Rs 35 million.

The measure for after-tax return on assets also fell from 0.7% last year to 0.56% in the current year. Acceptable levels for this ratio are usually in the vicinity of 1%. After-tax profits as a proportion of deposits also dipped from 1.7% to 1.3%