State Bank of Hyderabad (SBH), the largest associate bank of the State Bank of India, has posted a 10.6 per cent growth in net profit at Rs 142.39 crore for the quarter ended September 30, 2007, compared with Rs 128.75 crore in the corresponding quarter last year. | |
| The total income in the quarter increased by 32.5 per cent to Rs 1,209.70 crore from Rs 913 crore in the same period last year. |
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| The bank would achieve its targeted business of Rs 1 lakh crore in the current financial year, according to chief general Manager, R P Sinha. |
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| During first six months of the current year, the bank's total business stood at Rs 74,640 crore, registering a year-on-year growth of 16.9 per cent. |
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| The bank shelved its proposed initial public offering as it was already Basel-II compliant and because of the proposed merger of SBI associate banks. |
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| SBH would start a liability centralised processing centre at Hyderabad by December this year. The facility would offer single-point service to all customers. |
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| A customer relationship officer would provide a "welcome kit" consisting of a passbook, cheque book and an ATM card within 10 minutes of opening an account, Sinha said. |
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