Business Daily from THE HINDU group of publications
Sunday, Apr 29, 2007
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Business Daily from THE HINDU group of publications Sunday, Apr 29, 2007 ePaper |
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Corporate Results
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Public Sector Banks Money & Banking - Dividend Announcement State Bank of Mysore net up 15%; to pay 100% Our Bureau
Up by 15% Net profit up by 15 per cent to Rs 249.23 crore in FY07 from Rs 216.72 crore.
Our Bureau Bangalore April 28 State Bank of Mysore has proposed a dividend of 100 per cent for the financial year 2006-07 (FY07). Briefing reporters on the bank's results, the Managing Director, Mr P.P. Pattanayak, said the dividend was in view of the bank's performance that pushed up its net profit by 15 per cent to Rs 249.23 crore in FY07 from Rs 216.72 crore. The increase in profit was on account of the improvement in the net interest income. The net interest income rose to Rs 712.88 crore against Rs 611.67 crore in the corresponding period of the previous year. Operating profit also rose to Rs 471.58 crore (Rs 437.86 crore). During the period, the operating expenditure went up by 10.35 per cent to Rs 562.22 crore, mainly on account of higher establishment expenditure. The bank's advances rose to Rs 16,178.53 crore (Rs 12,063.15 crore). Deposits rose to Rs 21,395.49 crore (Rs 16,178.53 crore).
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