Financial Daily from THE HINDU group of publications
Tuesday, Jan 25, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jan 25, 2005 |
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Money & Banking
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Financial Performance Corporate Results - Public Sector Banks SBT 9-mth operating profit up by 10.18 pc Our Bureau
Thiruvananthapuram , Jan. 24 STATE Bank of Travancore (SBT) has recorded a 10.18 per cent rise in the operating profit for the nine months of the current financial year ended December 31, 2004. The operating profit was at Rs 604.58 crore as against Rs 548.76 crore during the same period last year. However, the net profit declined to Rs 161.21 crore (Rs 170.67 crore) due to higher provisions. The higher operating profit of the bank was driven by a 38.30 per cent increase in net interest income, which stood at Rs 677.99 crore at the end of the nine-month period. The capital adequacy ratio stood at 10.51 per cent at the end of the period. The bank has augmented its tier-II capital through the issue of subordinated bonds to the tune of Rs 195 crore in the first week of January this year. The aggregate deposits grew by Rs 2,013 crore to touch Rs 21,540 crore. The gross advances increased by Rs 1,841 crore to Rs 13,692 crore and the retail advances showed a year-over-year growth of 28.98 per cent.
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