The Hindu Business Line : SBT mulls bonds issue by March

STATE Bank of Travancore (SBT), which posted 70 per cent growth in net profit during the nine-month period ended December 31, is considering issue of bonds worth Rs 100 crore to Rs 150 crore by March 31 or early next financial year.

The capital adequacy ratio, which is expected to be maintained at the current level of 11.65 per cent through the year, will improve to 12.35 per cent after the issue, according to Mr Amitabha Guha, Managing Director, SBT.

He told Business Line that the net non-performing assets of the bank had declined to 1.30 per cent from 3.06 per cent at the beginning of the financial year. The bank had issued 65 notices for a total amount of Rs 28 crore under the Securitisation Act. The notices were issued only in respect of assets that could be taken over and the bank was able to mop up about Rs. 7 crore so far, he said.

He said retail lending constituted around 48 per cent of the bank's advances and till December 31 retail lending formed 64 per cent of the growth in non-food credit.

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