Sbm Is On Trajectory For Bottomline Goal, Says Chief
The State Bank of Mysore (SBM) is well on its way to meet its target of achieving Rs 90 crore net profit for the current financial year.
The bank had already recorded Rs 66.89 crore net profit for the nine months ended December, its managing director M Sitarama Murty said.
He said the bank had undertaken an ambitious programme to increase market share on deposits and advances front, and improve quality of assets. This would be mainly achieved through structural re-organisation.
Also Read
Senior officials would be deployed in their respective jurisdictions, while select personnel would be trained to take up specialised operations, he said, adding all industrial finance branches would be under direct control of a general manager hitherto. As in December the bank had deposits of Rs 8,708 crore and advances at Rs 5,181 crore.
The bank is actively pursuing total computerisation and it had already covered 82 per cent of the bank