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Our Bureau

Thiruvananthapuram , April 29

State Bank of Travancore (SBT) has booked a higher net profit of Rs 258.68 crore during the year ended March 31 as against Rs 247.13 crore during the last fiscal.

The Board of Directors has declared a dividend of 100 per cent, up from the 75 per cent paid during the last two financial years, an SBT spokesman said here. Profitability could be sustained mainly on account of an increase in the net interest income and lower depreciation on investment portfolio. The non-interest income (excluding profit on sale of investments) recorded a healthy growth of 24.26 per cent.

Total income rose to the level of Rs 2,649.69 crore (Rs 2,416.84 crore last year). The Earnings Per Share (EPS) has touched Rs 517.36 (Rs 494.26) and the book value per share has reached the level of Rs 2,663 (Rs 2,260). The capital adequacy ratio stood at 11.15 per cent at the end of March 31 this year.

The gross NPAs were brought down sharply from 4.28 per cent to 3.18 per cent year-on-year, reduction of 1.10 percentage points. The net NPAs also declined from 1.81 per cent to 1.47 per cent.

The total business increased by Rs 4,989 crore, which also signalled the bank crossing another milestone of Rs 45,000 crore in business.

Total deposits grew by 7.72 per cent (Rs 1,863.50 crore) during the period to touch Rs 25,996.51 crore. Personal segment deposits grew by a healthy 11.49 per cent.

Deposits from NRIs grew by 9.59 per cent during the period to touch Rs 7,875.97 crore.

Total Advances, recorded a healthy growth of 27.06 per cent (Rs 4,018.07 crore) to reach the level of Rs 18,866.40 crore. Retail lendings continued to be a major component recording a growth of Rs 2,543 crore.

As at the end of the year, the share of retail lendings in total advances stood at 54.70 per cent as against 50.55 per cent in March 2005.

During the year, the bank introduced the Janapriya Savings Account — a special no-frills savings bank account with ATM facility but without any restriction on minimum balance. It was aimed at the financial inclusion of and extension of banking facilities to the less privileged sections of the society.

SBT had thus become one of the first public sector banks in the country to offer this as a `zero balance' account.

The bank's CD ratio increased from 62.88 per cent to 73.30 per cent as at March 2006. The CD ratio for Kerala State as a whole has improved from 56.67 per cent in March 2005 to 59.96 per cent.

More Stories on : Public Sector Banks | Financial Performance | Economy

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