The Hindu Business Line : SBH net grows 11 pc in Q1

State Bank of Hyderabad (SBH) has posted a net profit of Rs 78.32 crore in the first quarter ended June 2006, a growth of 11.33 per cent from Rs 70.35 crore in the corresponding quarter of last fiscal.

The total business during the quarter under review crossed Rs 57,000 crore with a year-on-year growth of Rs 9,453 crores, up 19.54 per cent, according to Mr Amitabha Guha, Managing Director of the bank.

Non-performing Assets

Referring to the Non-performing Assets, he said gross NPAs were brought down to Rs 423.88 crore (1.94 per cent of gross advances), compared to 3.32 per cent at the end of Q1 of last fiscal. The net NPAs as a percentage of net advances reduced to 0.2 per cent (0.55 per cent) for the first quarter of this year.

The Capital Adequacy Ratio stood at 11.4 per cent (11.34 per cent), while the Credit Deposit Ratio increased to 61.99 per cent (53.50 per cent), Mr Guha told newspersons.

Priority sector loans

The loans to priority sector touched Rs 9,170.97 crore (42.62 per cent of net bank credit) and continued to be above the benchmark of 40 per cent set by the Reserve Bank of India.

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