The Hindu Business Line : SBH net profit up 18.4%

Hyderabad April 27 State Bank of Hyderabad's (SBH) net profit increased 18.37 per cent to a record Rs 505.5 crore in fiscal year 2006-07 compared to the previous fiscal.

According to a release issued here on Friday, the operating profit shot up 36.15 per cent to Rs 1,003.80 crore while the total business crossed Rs 71,000 crore in 2006-07 with an annual growth of 25.71 per cent.

The bank has declared a dividend of 400 per cent for 2006-07.

The bank's deposits and advances grew by 21.99 per cent and 33.94 per cent, respectively. The bank could bring down the gross NPAs to 1.23 per cent of gross advances during the fiscal from 2.13 per cent last year. The credit deposit ratio increased to 67.97 per cent.

Despite intense interest rate competition in the market, the net interest margin was a healthy 3.44 per cent as at the end of 2006-07, the release said.

During the period under review, the bank's return on equity was at 20.31 per cent while the return on assets stood at 1.03 per cent. The earnings per share (face value of Rs 100) was at Rs 2,930 and the book value per share increased to Rs 14,425 from Rs 11,942 from the beginning of the year.

During the year, Rs 11,315.36 crore (40.31 per cent of net Bank Credit) loans were extended to the priority sector. The agricultural lending grew 34.5 per cent. On the retail portfolio, housing loans grew 23.55 per cent while educational loans rose 55 per cent. The capital adequacy ratio stood at 12.51 per cent.

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