SBT H1 Net Profit Up By 24%.:By Sachin Murdeshwar

State Bank of Travancore (SBT) H1 Net Profit Up By 24%.

Mumbai,2nd November,2012. (Sachin Murdeshwar) : State Bank of Travancore (SBT) has posted a higher net profit of Rs.317.07 crore in the first half year 2012-13 compared to Rs.256.20 crore in the same period last year. The growth in net profit is 24%. The performance of the Bank for the first half year of the current financial year was taken on record at a meeting of the Board of Directors of the Bank held on 1st November 2012.

The SBT MD Mr P Nanda Kumar told mediapersons here today that, “The operating profit (before provisions) for the half year ended 30th September 2012 is Rs.641.43 crore vis-à-vis Rs.580.40 crore for the corresponding half year in 2011- 12. Net Interest Income shows increase of 14% from Rs.874.21 crore in H1:2011- 12 to Rs.993.73 crore in H1:2012-13. Non-interest income has increased from Rs.298.91 crore during first six months last year to Rs.307.18 crore in the current half year. Net Interest Margin [NIM] stood at 2.50% against 2.63% in September 2011.”

He further stated,” The Capital to Risk Weighted Assets Ratio (CRAR) of the Bank as on 30th September 2012 improved to 12.41% [under Basel II framework] as against 12.18% in September 2011. The Regulatory minimum prescribed by Reserve Bank of India is 9%. Gross NPAs stood at 2.98% (2.84% in September 2011) and Net NPAs at 1.74% against 1.77% in September 2011. The novel concept of Asset Tracking Cells (ATCs), intended primarily for containment of NPAs, are functioning effectively at all the centres. Bank is making all out efforts for NPA recovery as well as for improving the quality of its advance portfolio, thereby reducing the NPAs to the
minimum possible level.”

The Total Business of the Bank had crossed Rs.1,34,000 crore as on 30th September 2012. The Deposit base of the bank increased by Rs.3,882 crore to Rs.75,352 crore (from Rs. 71,470 crore as on 31st March 2012). NRI Deposits showed a growth of Rs 2,487 crore during the same period to reach Rs 17,796 crore. Gross advances rose by Rs.2,633 crore to Rs.58,667 crore (from Rs.56,034 crore as on 31st March 2012). Bank’s Priority Sector Lendings grew by Rs.3,864 crore during the past six months from Rs.20,287 crore as on 31st March 2012 to touch Rs 24,151 crore as on 30th September 2012. The level of lending to Agriculture segment stood at Rs.9,836 crore as on 30th September 2012. Bank’s MSME lendings as on 30th September 2012 was Rs.8,598 crore. The Bank had extended financial assistance to 1,321 SHGs during the half year and disbursed a loan amount of Rs.27.49 crore. The cumulative disbursal to SHGs as on 30.09.2012 was Rs.765.25 crore. The “Haritotsavam 2012” (Intensive Agricultural Lending Campaign) concluded on 30.09.2012 is expected to have its effect on increasing the Agricultural lending in the days ahead. Further, the Bank’s ongoing MSME lending campaign, the Housing Loan and Car Loan Campaigns will provide the much needed fillip to the sectors, at the earliest.

Mobile Banking Registrations increased by 30,151 during the half year, reaching the total registrations to 1.04 lacs. Internet Banking accounts increased by 52,391 during the half year, taking the total number of registrations to 5.07 lacs. The Bank is actively encouraging use of Electronic Payment systems, Mobile Banking and Internet Banking facility.