SBT net profit down 43% at Rs 256 cr

Total income during the period saw a 15.45% growth at Rs 7,785 cr, when compared with Rs 6,743 cr a year ago

Public sector lender State Bank of Travancore (SBT) posted a 43 per cent drop in net profit at Rs 256 crore for the nine-month period ended December 31, 2013, this financial year, as against Rs 449 crore for the same period last year.

Total income during the period saw a 15.45 per cent growth at Rs 7,785 crore, when compared with Rs 6,743 crore a year ago.

Net interest income (NII) rose 13.43 per cent to Rs 1,767.76 crore from Rs 1,558.43 crore last year. Operating profit increased 6.65 per cent to Rs 1,030 crore from Rs 965 crore.

The capital to risk weighted assets ratio (CRAR) during the period under review stood at 10.03 per cent under the Basel III framework. The regulatory minimum prescribed by the Reserve Bank of India was at 9 per cent.

Gross non performing assets (NPAs) increased to 4.41 per cent, as against 3.04 per cent while Net NPAs stood at 2.73 per cent, when compared with 1.83 per cent.