State Bank of Tranvancore drops after poor Q4 numbers

State Bank of Tranvancore lost 1.32% to Rs 415 at 9:48 IST on BSE after net profit declined 70.73% to Rs 48.57 crore on 8.98% growth in total income to Rs 2773.37 crore in Q4 March 2014 over Q4 March 2013.

The Q4 result was announced after market hours on Friday, 25 April 2014.

Meanwhile, the S&P BSE Sensex was down 4.62 points or 0.02% at 22,683.45.

On BSE, so far 1,407 shares were traded in the counter as against average daily volume of 5,176 shares in the past one quarter.

The stock hit a high of Rs 420 and a low of Rs 412.90 so far during the day. The stock had hit a 52-week low of Rs 364.50 on 14 March 2014. The stock had hit a 52-week high of Rs 574 on 8 May 2013.

The stock had outperformed the market over the past one month till 25 April 2014, advancing 4.25% compared with the Sensex's 2.87% rise. The scrip had, however, underperformed the market in past one quarter, gaining 1.2% as against Sensex's 7.36% rise.

The small-cap bank has equity capital of Rs 50 crore. Face value per share is Rs 10.

State Bank of Tranvancore (SBT)'s ratio of gross non-performing assets (NPAs) to gross advances stood at 4.35% as on 31 March 2014 as against 4.41% as on 31 December 2013 and 2.56% as on 31 March 2013. The ratio of net NPAs to net advances stood at 2.78% as on 31 March 2014 as against 2.73% as on 31 December 2013 and 1.46% as on 31 March 2013.

The bank's provisions and contingencies surged 68.45% to Rs 184.90 crore in Q4 March 2014 over Q4 March 2013.

SBT's Capital Adequacy Ratio (CAR) as per Basel III stood at 10.79% as on 31 March 2014 as against 10.03% as on 31 December 2013.

In terms of RBI Circular dated 23 August 2013, on "Investments portfolio of banks - Classification, Valuation and Provisioning" the bank has transferred SLR securities with face value of Rs 4246.40 crore (Book Value of Rs 4456.28 crore) held under AFS portfolio to HTM portfolio and the loss on such transfer amounting to Rs 50.63 crore has been recognized during the quarter.

State Bank of Travancore is an affiliate of State Bank of India (SBI), which is India's biggest commercial bank in terms of branch network. SBI holds 75% stake in State Bank of Travancore (as per the shareholding pattern as on 31 December 2013).

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