The Hindu Business Line : SBI Bengal circle targets Rs 2,957-cr addl deployment

State Bank of India, Bengal Circle, covering West Bengal, Sikkim and Andaman & Nicobar Islands, has a set target of Rs 2,957 crore of additional deployment of funds in the current fiscal.

In the first half of the year, the additional deployment was to the tune of Rs 770 crore, including Rs 197 crore in Sikkim and Rs 132 crore in Andaman & Nicobar Islands. "The bulk of deployment always takes place in the second half," says a spokesman for the bank.

The total deposits rose to around Rs 25,150 crore in the first half of this year against Rs 843 crore in the same period of last year. This was because of the bank's decision not to accept high cost bulk deposits, with accent at the same time on mobilisation of more of low-cost retail deposits.

Market shares

The bank's market shares in the first half were as follows: In deposits, it was 20.82 per cent in the aggregate and state-wise breakups were: 20.45 per cent in West Bengal, around 41 per cent in Sikkim and around 45 per cent in Andaman & Nicobar Islands. In advances, the corresponding figures were: 20.82 per cent in the aggregate and State-wise: 20.5 per cent in West Bengal, 46.37 per cent in Sikkim and around 50 per cent in Andaman & Nicobar Islands.

The credit-deposit ratio in the entire circle was a little over 60 per cent in the first half of this year, up from 57 per cent as on March 31, 2006 and the target is to achieve 63.5 per cent by March 2007.

The gross NPA ratio was 4.9 per cent against 5.3 per cent as on March 31, 2006 and the target is to achieve 2.71 per cent by March next year.

SBI Bengal Circle has set for itself a profit target of Rs 450 crore for 2006-07 and the profit earned in the first half amounted to Rs 190 crore.

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