SBT net up 30%

State Bank of Travancore (SBT) has earned a net profit of Rs 181.44 crore in the April–June period of the current financial year as against Rs 139.25 crore in the same period last year, registering a growth of 30 per cent.

Total business during the period under review increased to Rs 131,131 crore with a deposit base of Rs 74,082 crore. This was Rs 71,470 crore at the end of June 2011.

P Nandakumaran, managing director of the bank, said operating income improved 10.35 per cent to Rs 669.50 crore and interest income 7.5 per cent to Rs 490.4 crore.

Non-interest income increased to Rs 179.10 crore as against Rs 150.51 crore in the corresponding period last year while NRI deposit base was up at Rs 2,373 crore in Q1. Net non performing asset (NPA) stood at 1.6 per cent during the first quarter as against 1.19 per cent in the same period last year.

He said the bank had opened 41 new branches taking the total to 920, and would open its 1000th branch in the current year itself. The gold loan account of the bank was at Rs 7,300 crore, which is 14 per cent of the total advance book.