Financial Daily from THE HINDU group of publications
Tuesday, Jul 02, 2002
Money & Banking
Public Sector Banks
SBT to focus on retail banking
THIRUVANANTHAPURAM, July 1
THE State Bank of Travancore (SBT), which recorded a 24 per cent increase in net profit in 2001-02, has projected its total business, excluding investments, to reach Rs 25,000 crore in the current year.
The bank had logged a total business of Rs 21,000 crore in 2001-02, earning a net profit of Rs 120.93 crore as against Rs 97.49 crore in the previous year.
Mr Amitabh Guha, Managing Director, said at a press conference here that the focus in the current year would continue to be on retail banking and credit deployment in housing, personal and education segments.
He said this would help the bank improve market share as also its credit-deposit (CD) ratio in the State. As of now, the CD ratio was around 46 per cent and efforts would be made to take it to the level of at least 50 per cent during the current year, he added.
In 2001-02, the bank's deposits had increased by 16.30 per cent to Rs 13,460 crore, while the advances grew by 16.22 per cent to Rs 7,436 crore.
During the year, the gross NPA came down to 9.41 per cent from 11.38 per cent, while the net NPA declined to 5.72 per cent from 7.75 per cent. The bank had declared a dividend of 30 per cent for the year, same as the previous year.
Mr Guha said the bank's performance in the three lead districts of Alapuzha, Kottayam and Pathanamthitta had far exceeded the budgeted level.
In the current year, SBT would install 50 more automated teller machines (ATMs) and the programme was to eventually integrate its ATM network with that of State Bank of India, Mr Guha informed.
He said the bank would adopt technology upgradation in a big way to computerise more branches.
t has already fully computerised 206 branches and partial computerisation has been done in another 129 branches. As much as 72 per cent of the bank's business are currently transacted through computers.
This apart, SBT online facility is available in 190 branches, while 408 branches/offices are connected through e-mail network.
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