SBBJ's net profit declines 2.59 per cent in H1

JAIPUR: State Bank of Bikaner and Jaipur's net profit during the first half of the current fiscal decreased marginally by 2.59 per cent to Rs 333.23 crore from Rs 342.09 crore in the corresponding period last year, on account of increase in NPA provisions.

However, for the six months ended September 30, operating profit rose by 28.45 per cent to Rs 1,001.56 crore from Rs 779.70 crore recorded in the same period a year ago, SBBJ Managing Director Jyoti Ghosh said in a release here today.

During the half year, net interest income of bank rose by 10.46 per cent to Rs 1,493.10 crore from Rs 1,351.75 crore last year, he said.

The bank has achieved balanced growth with its business level reaching a figure of Rs 1,42,537.00 crore, an increase of 10.48 per cent over the corresponding period last year.

As per its annual plan for the current financial year, SBBJ had a plan to open 120 branches, of which 69 branches have already been opened, he said.