ABN Amro Bank's chief executive (India), Romesh Sobti, said, "ABN Amro's improved performance in 1999-2000 is reflected in the 88 per cent growth in total advances. Excluding corporate paper it is Rs 3,896 crore as on end-March 2000, and a 82 per cent growth in total deposits to Rs 3,423 crore. We have also registered a 121 per cent increase in the investments in government and corporate bonds to Rs 2,717 crore".

Total income rose by 57 per cent to Rs 730.25 crore (Rs 465.20 crore). This was on the back of a 64.7 per cent increase in its interest income, which rose to Rs 60.50 crore (Rs 36.73 crore). The bank's balance sheet footing increased to Rs 7,516.59 crore (Rs 3,977.27 crore).

Business per employee improved by 71 per cent to Rs 8.57 crore. Net non-performing assets declined to 0.30 per cent (0.45 per cent). The capital adequacy ratio stood at 10.09 per cent (9.27 per cent).

ABN Amro raised Rs 100 crore in subordinated debt via unsecured non-convertible debentures priced at 12.5 per cent payable semi-annually.

Tier-2 capital infusion of Rs 154.02 crore was also effected during the year."The increase in ABN Amro balance sheet size is primarily because of the strong organic growth on all the wholesale banking business lines. It is also partly due to the recent acquisition of the retail assets of Bank of America", Sobti said.

The eight-branch ABN Amro is now aggressively into retail banking. It has 30 ATMs, and now offers loans against shares, and personal loans. It will shortly open two branches in Hyderabad and Bangalore.