Financial Daily from THE HINDU group of publications
Thursday, May 06, 2004
Financial Daily from THE HINDU group of publications Thursday, May 06, 2004 |
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Money & Banking
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Financial Performance Corporate Results - Public Sector Banks SBT annual net up 43 pc; to pay 75 pc Our Bureau
Thiruvananthapuram , May 5 STATE Bank of Travancore (SBT) has recorded 43 per cent increase in net profit for 2003-04. The net profit was at Rs 245 crore as against Rs 171 crore in the previous year. Besides, the bank's total business reached Rs 30,000 crore during the year, according to a statement from SBT. The board of directors has declared a dividend of 75 per cent for the year. Last year, the bank had paid 50 per cent dividend. The earnings per share moved up to Rs 489.20 from Rs 342.08 in the previous year, while the book value per share stood at Rs 1,851 compared to Rs 1,446 in 2002-03. The total deposits of the bank grew by 24 per cent to reach Rs 19,721 crore, of which as much as 37.42 per cent was contributed by non-resident Indians. The total advances were at Rs 11,132 crore, marking a growth of 21.39 per cent over the level recorded in the previous year. Retail lending constituted 46.62 per cent of the total advances. The credit-deposit ratio of the bank stood at 60.34 per cent even as the CD ratio for Kerala improved to 50.88 per cent from 48.07 per cent in the previous year. The credit plus investment ratio for Kerala rose to 55.49 per cent from 53.79 per cent. The bank's lending to the priority sectors formed 44.50 per cent of the net credit as against the benchmark of 40 per cent. Also, there had been a growth of Rs 1,062 crore in priority sector lending over the previous year. The number of self-help groups assisted by SBT was at 4,630 with a total loan amount of Rs 20 crore. During the year, the net NPA was brought down by 1.67 per cent to 1.39 per cent. The capital adequacy ratio improved slightly to 11.36 per cent from 11.30 per cent in 2002-03.
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