The Hindu Business Line : State Bank of Mysore net up 43%

State Bank of Mysore (SBM) has reported a 43 per cent increase in net profit for the first quarter of this financial year 2007-08 to Rs 72.84 crore. In a press release here today, the bank said that operating profit at the end of first quarter was Rs 117.61 crore, a 15 per cent increase over the previous year. The increase in income was attributed to interest income that rose from core banking operations. This income was Rs 678.04 crore as against Rs 451.66 crore during th e corresponding period of 2006-07. The increase was contributed by a 36 per cent increase in advances. During the same period, the bank also booked income from treasury operations of Rs 147.09 crore, up from Rs 129.85 crore during the corresponding period of last year. —

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