Mangalore : The only nationalized bank with Head quarters in Mangalore (though founded in Udupi) at Pandeshwar has registered a first quarter nett profit of Rs 261.25 crores in 2009, and presently increased it to Rs 333.78 crores in 2010, said J.M. Garg, CMD, in a press release.

Deposits of this bank that rose from ‘C’ to ‘A’ grade have also risen from Rs 72, 177 crores (2009) to Rs 91035 crores in 2010. Total business has shot up from Rs 1,20,000 crores to Rs 1,55,840 crores presently (April – June 2010), he added.

The Bank has acquired 8, 51,284 new accounts during a 12 month period upto 30-06-2010, the release stated.