State Bank of Hyderabad (SBH) reported a 36.72 per cent growth in net profit to Rs 135.19 crore for the third quarter ended December 31, 2007, as compared with Rs 98.88 crore during the corresponding quarter last year. | |
| During the quarter, operating profit touched Rs 253.48 crore, as against Rs 218 crore, up 16.28 per cent, while interest income grew 32.39 per cent to Rs 1,120.22 crore, as compared with Rs 846.16 crore for the same period last year. Interest on advances increased 42.25 per cent to Rs 810.96 crore from Rs 570.10 crore. |
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| "The bank's deposits grew by Rs 7,436 crore while advances increased by Rs 2,294 crore during the quarter. While the gross non performing assets (NPAs) have been brought down to Rs 388.18 crore, as compared with Rs 400.50 crore at the end of Q3FY07, net NPAs stood at Rs 85.08 crore at the end of the third quarter, as against Rs 42.87 crore," said Amitabha Guha, managing director, SBH. |
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| Highlighting the bank's performance for the nine-month period ending December 2007, he said,"The total business of the bank (deposits and advances) crossed Rs 84,500 crore with an annual growth of 30.87 per cent (Rs 64,593 crore as at December 31, 2006), while gross NPAs were brought down from 1.23 per cent of gross advances as at the beginning of the current financial year to 1.16 per cent by December 31, 2007. |
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| "With a thrust on lending to the agricultural sector, our portfolio grew 25.53 per cent year-on-year up to December 31, 2007 from Rs 3,873 crore to Rs 4,862 crore. Within our total retail loan portfolio, housing loans recorded a growth of 16.67 per cent at Rs 2,654 crore. Under the education loan scheme, we extended Rs 557.47 crore to 31,134 students and registered a 33.26 per cent growth during the nine-month period," Guha added. |
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