SBBJ net up on higher revenue

Higher treasury revenues and fees helped push profits higher

State Bank of Jaipur and Bikaner has posted 11.8 per cent rise in net profit at Rs 187.52 crore for the first quarter ended June 2013 on higher treasury revenues and fees. SBBJ, associate bank of State Bank of India, had posted a net profit of Rs 167.69 crore in April-June 2012.

Its stock was trading at Rs 391, up 3.07 per cent over previous close on the Bombay Stock Exchange. Its total income for the reporting quarter rose to Rs 2,189.81 from Rs 1,986.10 crore in Q1 of 2012-13. Its net interest income was almost flat at Rs 662.19 crore as against Rs 656.3 crore.

The other income comprising treasury, fees and commissions jumped by 48.4 per cent to Rs 227.80 crore in Q1 from Rs 153.55 crore during Q1  of 2012-13.

Its provisions and contingencies for bad loans and restructured assets dropped sharply in the first quarter to Rs 162.23 crore from Rs 225.49 crore.

 

Its gross non-performing assets stood at 3.88 per cent (Rs 2,218 crore in Q1 up from Rs 1,874.36 crore a year ago. 

Its capital adequacy ratio (Basel III) was 11.6 per cent.