The Hindu Business Line : SBT net marginally up in first half

STATE Bank of Travancore (SBT) has recorded a net profit of Rs 118.10 crore in the first six months of the current financial year ended September 30, as against Rs 115.45 crore posted during the same period last year.

The gross profit during the period went up to Rs 467.40 crore from Rs 433.82 crore in the first half of the previous year, according to a statement from the bank.

The growth in profit was powered by an increase of Rs 101.14 crore in net interest income, which touched Rs 414.27 crore. It represented a rise of 32.30 per cent over the same period last year.

The capital adequacy ratio at 11.06 per cent was above the benchmark of nine per cent stipulated by the Reserve Bank. The earnings per share moved up to Rs 236.20 (non-annualised) from Rs 230.90 as at the end of September 2003.

The net non-performing assets of the bank, which stood at 1.39 per cent at the end of March 2004, declined to 1.06 per cent. The bank recorded a growth of Rs 1,130 crore in aggregate deposits during the first six months ( Rs 792 crore).

The savings bank deposits grew by Rs 350.58 crore ( Rs 155.42 crore).

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