The Hindu Business Line : SBT net climbs 62% at Rs 87.3 cr

State Bank of Travancore (SBT) has posted a net profit of Rs 87.28 crore during the three-month period ended June 30, 2007, which marks a 62.05 per cent increase over Rs 53.86 crore recorded in the corresponding period last year.

The bank’s total income increased by 27.63 per cent to Rs 892.08 crore from Rs 698.94 crore. Interest income went up by 32.75 per cent (year-on-year) to Rs 842.02 crore against Rs 634.28 crore last year, said Mr Pradeep Shankar, Chief General Manager, SBT.

The gross non-performing assets (NPAs) and net NPAs of the bank came down to 2.1 per cent and 1.02 per cent, respectively, as on June 30, 2007, from 2.98 per cent and 1.50 per cent a year-ago. The Capital to Risk-adjusted Assets Ratio (CRAR) stood at 12.95 per cent at the end of the quarter against 11.25 per cent in the previous year.

CD ratio up

The credit-deposit ratio of the bank in Kerala increased by 5.68 per cent (year-on-year) to 69.32 per cent. The CD ratio at the national level touched 79 per cent.

The deposit base of the bank on a year-on-year basis rose 23.20 per cent to Rs 31,879 crore from Rs 25,875 crore last year.

The gross advances increased by 28.57 per cent to Rs 25,143 crore from Rs 19,556 crore last year.

The bank’s total business grew by 25.51 per cent (year-on-year) to Rs 57,022 crore during the period from Rs 45,431 crore as at the end of June 2006.

Mr Pradeep Shankar said that the year-on-year disbursal of the bank under Special Agricultural Credit Plan during the quarter was 125 per cent more than the corresponding period last year.

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