The Hindu : Kerala / Thiruvananthapuram News : SBT net profit put at Rs.103.88 crores

Online edition of India's National Newspaper
Wednesday, Oct 26, 2005

Kerala

Kerala - Thiruvananthapuram

SBT net profit put at Rs.103.88 crores

Special Correspondent

THIRUVANANTHAPURAM: State Bank of Travancore (SBT) has recorded a net profit of Rs.103.88 crores during the first half of 2005-06, the bank said in a statement here on Tuesday.

The operating profit for the period was Rs.302.53 crores. The bank's net income from interests increased by 12.76 per cent to reach Rs.467.12 crores during this period from Rs.414.27 crores recorded in the first half of 2004-05.

The gross NPAs and the net NPAs, which stood at 4.28 per cent and 1.81 per cent respectively as on March 31, 2005, were 3.84 per cent and 1.62 per cent respectively as on September 30, 2005. Thus, the situation has improved on this front also.

The Credit-Deposit (CD) ratio of the bank in Kerala continued to improve during the first half of the financial year. From 56.67 per cent as on March 31, 2005, it went up to 61.53 per cent as on September 30, 2005.

The increase during the six months was as high as 4.86 per cent.

When the bank's branches outside the State are also taken into consideration, the CD ratio increased by 3.88 per cent during the half year, to touch the level of 66.76 per cent. This was made possible by an increase of Rs.1,743 crores in advances during the period. (The growth in advances during the corresponding six months of 2004-05 was Rs.723 crores.) The total advances as on September 30, 2005, came to Rs.16,793 crores.

The deposits, on the other hand, grew by Rs.960 crores during the period to reach Rs.24,972 crores on September 30, 2005. The total business of the bank (deposits plus advances) thus reached the level of Rs.41,765 crores.

The retail segment contributed a major share of the growth in advances. Advances under the personal segment grew by Rs.1,088 crores. The SBT is in the forefront in the State in the matter of helping students with education loans. The bank disbursed a sum of Rs.118 crores as education loans in the State during the half year ending September 30, 2005.

A healthy trend noticed in the case of deposits was that the recent decline in NRE deposits is beginning to change. During the first half of 2004-05, the NRE deposits had fallen by Rs.151 crores. This trend got reversed with a growth by Rs.192 crores during the first half of 2005-06.

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