SBT Q2 net profit up 34% to Rs 164 crore
The State Bank of Travancore posted a net profit of Rs 163.60 crore for the second quarter this fiscal, up 34% from Rs 122.49 crore in the corresponding period last year.
By ET Bureau |
THIRUVANANTHAPURAM: The State Bank of Travancore posted a net profit of Rs 163.60 crore for the second quarter this fiscal, up 34% from Rs 122.49 crore in the corresponding period last year. The operating profit was also higher by 38% to touch Rs 262 crore. SBT managing director P Pradeep Kumar said the increase in operating profit was driven by net interest income growing by 32% to touch Rs 415 crore.
For the first half of this fiscal, SBT’ s net profit stood at Rs 313 crore, as against Rs 302 crore in the first half last year. Annualised earnings per share of the bank stood at Rs 125.36 and an interim dividend of Rs 8 per share has been paid to shareholders.
SBT’ s cost of deposits came down from 6.22% at the end of September last year to 5.55% at the end of September this year, and its net interest margin stands at 2.86%, an improvement of 13 basis points year-on-year.
Gross business of the bank has touched Rs 94,580 crore, representing a 17.55% growth and the total number of accounts has crossed the 1-crore mark. Deposits grew at a marginally quicker pace of 17.72% to touch Rs 53,602 crore and advances grew 17.33% to reach Rs 40,978 crore.
Gross NPA of the bank stood at Rs 835 crore at the end of September, lower by Rs 84 crore from the end of the previous quarter.
For the first half of this fiscal, SBT’ s net profit stood at Rs 313 crore, as against Rs 302 crore in the first half last year. Annualised earnings per share of the bank stood at Rs 125.36 and an interim dividend of Rs 8 per share has been paid to shareholders.
SBT’ s cost of deposits came down from 6.22% at the end of September last year to 5.55% at the end of September this year, and its net interest margin stands at 2.86%, an improvement of 13 basis points year-on-year.
Gross business of the bank has touched Rs 94,580 crore, representing a 17.55% growth and the total number of accounts has crossed the 1-crore mark. Deposits grew at a marginally quicker pace of 17.72% to touch Rs 53,602 crore and advances grew 17.33% to reach Rs 40,978 crore.
Gross NPA of the bank stood at Rs 835 crore at the end of September, lower by Rs 84 crore from the end of the previous quarter.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
