Business Daily from THE HINDU group of publications
Tuesday, Oct 23, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Oct 23, 2007 ePaper | Mobile/PDA Version |
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Money & Banking
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Financial Performance Corporate Results - Public Sector Banks SBT H1 net up 12.84% 
Our Bureau Thiruvananthapuram, Oct. 22 State Bank of Travancore (SBT) has posted a rise in net profit of 12.84 per cent to Rs 154.09 crore during the first half year ending September 30. The operating profit during the period was Rs 287.95 crore. The bank has retained its focus on retail advances during the ongoing financial year, an official spokesman announced here. Retail advances contributed to as much as 80 per cent of growth in advances during the just concluded half year. Under the personal segment, the bank has launched the ‘SBT Car Loan-Overdraft’, a car loan in the form of an overdraft facility, and the ‘SBT Career Loan’ for those who opt for training/acquiring skills to take up professions such as airline pilots, aircraft maintenance engineering and short-duration IT courses. New productDuring Q2 FY08, the bank launched a new deposit product under the personal segment called the ‘SBT Fortune 2007’ with distinct benefits and higher rate of interest. The special focus on agriculture finance has yielded results with lending to this segment shooting up by Rs 1,064 crore year on year (46 per cent) to reach Rs 3,370 crore. The bank aims to give more thrust for finance under micro credit, joint liability groups and promote more farmers clubs and agri-clinics for the benefit of farmers during the course of the year. The bank has fixed an annual target of Rs 770 crore under credit to small and medium enterprises for 2007-08. It offers tailor-made schemes to suit the requirements of various segments in the sector.
More Stories on : Financial Performance | Public Sector Banks
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