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State Bank of Travancore posts Rs 181 crore net

State Bank of Travancore (SBT) has posted a higher net profit of Rs 181.44 crore for the first quarter, compared to Rs 139.25 crore for the quarter ended June 30, 2011.

Published: 02nd August 2012 09:17 AM  |   Last Updated: 02nd August 2012 09:17 AM   |  A+A-

P-Nanda-Kumaran

State Bank of Travancore (SBT) has posted a higher net profit of Rs 181.44 crore for the first quarter, compared to Rs 139.25 crore for the quarter ended June 30, 2011.

Net operating income has improved by 10.35% to Rs 669.50 crore, while net interest income improved by 7.50% at Rs 490.40 crore during the quarter under review, compared to Rs 606.68 crore and Rs 456.17 crore respectively registered in the same period previous fiscal. Total non-interest income at the end of the quarter has increased to Rs 179.10 crore, as against Rs 150.51 crore during the corresponding period in the previous year. Higher forex income, fee-based and non-fund based income boosted the non-interest income for the quarter, said P Nanda Kumaran, Managing Director of SBT.

The capital to risk weighted assets ratio (CRAR) of the bank improved to 12.70%  as against 12.32% in June 2011.

The total business of the bank has crossed the one lakh core milestone at Rs 1,31,131 crore as at the end of June 2012. The deposit base of the bank grew by 14.62% to Rs 74,082 crore from Rs 71,470 crore as on March 2012.

NRI deposits showed a growth of Rs 2,373 crore during April to June 2012. Gross advances rose by 7.25% to Rs 57,049 crore from Rs 56,034 crore as on March 2012.

Bank’s priority sector lendings grew by Rs 3,686 crore over the last one year to touch Rs 21,663 crore. The level of lending to agriculture segment stood at Rs 9,888 crore.

Mobile banking registrations increased by 18,770 during the quarter. State Bank of Travancore is positioned second amongst all public sector banks and sixth amongst all the banks in the country, next to State Bank of India, in respect of number of mobile banking transactions.

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