The Hindu : Business : SBT net profit up 31 p.c.

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SBT net profit up 31 p.c.

Special Correspondent

Credit-deposit ratio in State goes up to 63.93 per cent

Priority sector advances grow by 5.72 per cent 5,203 more self-help groups financed

THIRUVANANTHAPURAM: The State Bank of Travancore (SBT) recorded an increase of 31.46 per cent in net profit in the quarter ended September 30 from that of the corresponding period last year, the bank said in a press release here on Friday. The increase is from Rs. 103.88 crore to Rs. 136.56 crore.

The operating profit increased from Rs. 302.53 crore to Rs. 334.02 crore. The net interest income went up by 15.31 per cent from Rs. 467.12 crore to Rs. 538.64 crore, the release said.

CD ratio improves

The bank improved its credit-deposit (CD) ratio in Kerala from 59.96 per cent on March 31 to 63.93 per cent on September 30, the increase being 5.97 per cent.

The ratio as a whole (covering the operations of the bank outside Kerala also) increased by 2.16 per cent, to reach the level of 75.46 per cent. This improvement was powered by a growth of Rs. 1,580 crore in advances.

The bank's priority sector advances grew by 5.72 per cent during the half-year, the growth in real terms being Rs. 456 crore. Priority sector advances constituted 43.87 per cent of the advances, against the benchmark of 40 per cent.

With the addition of 5,203 more self-help groups financed during the period, the number of them receiving micro credit from the bank has gone up to 46,898. The growth in retail advances was by Rs. 735 crore. Education loans increased by Rs. 124 crore to reach Rs. 665 crore.

The SBT leads other banks in providing education loans to the students in the State, the press release said. The bank's total business at the end of September stood at Rs. 48,340 crore.

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