SBT FY09 surges 57%, at Rs 608 cr

Putting up impressive performance in all areas, State Bank of Travancore made record profit of Rs 607.84 crore, up 57.43% in 2008-09.      

The operating profit of the bank stood at Rs 1,056.27 crore against Rs 709.09 crore notching a growth of 48.96%, SBT Managing Director A K Jagannathan said at a press meet here.      

The bank, which held annual general meeting two days back, declared a dividend of 130% for the year against 100% the previous fiscal.      

"It has been an year of stellar performance. In all areas we could achieve excellent results and we look forward to keep the tempo in the unfolding year", Jagannathan said.      

The business turnover of the bank crossed Rs 75,000 crore during the period.      

Aggregate deposits grew by Rs 7012 crore to touch Rs 41,670 crore. The total advances went up by 16.26% to reach Rs 32711 crore.      On the asset management side, the gross Non Performing Asset had been brought down to 1.65 % from 2.01% and the net NPA from 0.95% to 0.58%.