Money & Banking

State Bank of Hyderabad net dips

Our Bureau Hyderabad | Updated on October 28, 2013 Published on October 28, 2013

State Bank of Hyderabad’s net profit slipped 23.76 per cent to Rs 162.72 crore for the quarter ended September 30 compared with Rs 213.43 crore during the same quarter last year.

The net interest income declined 3.23 per cent at Rs 944.53 crore against Rs 976.05 crore for the comparative period. Other income for the quarter under review stood at Rs 211.23 crore down from Rs 214.01 crore.

The total deposits grew 14.36 per cent on a year on year basis at Rs 1,21,986 crore (Rs 1,06672 crore), while the total advances rose 22.30 per cent at Rs 96, 548 crore (Rs 78, 944 crore), according to a press release.

The growth in advances was spread across all segments and categories of borrowers. The net non-performing assets increased from Rs 1,449 crore (1.61 per cent) in March this year to Rs 2,338 crore (2.5 per cent) in September. The provision coverage ratio is 57.56 per cent.

Published on October 28, 2013
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