State Bank of Travancore's total business crosses Rs.1,50,000 crore

Thiruvananthapuram, April 28 (IANS) Kerala headquartered State Bank of Travancore (SBT) has registered a growth of 20.49 percent in net profits in the fiscal 2012-13, crossing the milestone total business of Rs.1,50,000 crore, an official here said.

The performance of the bank for the fiscal 2012-13 was taken on record by the bank's board of directors at a meeting in Mumbai Friday, the official said.

SBT posted an operating profit of Rs.1,351 crore compared to Rs.1,249 crore achieved during the fiscal 2011-12.

Likewise, the net interest income grew from Rs.1,898 crore during 2011-12 to Rs.2,128 crore in 2012-13, registering a growth of 12.12 percent.

Total income in the year 2012-13 stood at Rs.9,287.86 crore, up from Rs.7,477.04 crore. The total expenditure of the bank, excluding provisions and contingencies, stood at Rs.7,936.85. crore compared to Rs.6,228.25 crore in the fiscal 2011-12.

The meeting also declared a dividend of Rs.20 per share with a face value of Rs.10.

The earnings per share improved to Rs.123.01 from Rs.102.09 at the end of the corresponding period last year.

The book value per share stood at Rs.797.46. against Rs.749.76 a year ago.

The overall business turnover of the bank registered a growth of 19.94 percent and stood at Rs.1,52,108 crore in 2012-13, up from Rs.1,26,816 crore in 2011-12.

Total deposits accounted for Rs.84,624 crore, up from Rs.71,470 crore the previous year, while total advances stood at Rs.67,484 crore, up from Rs.55,346 crore in 2011-12.

The percentage of gross NPAs (non-performing assets) to gross advances stood at 2.56 percent as on March 31, 2013, with the gross NPA level at Rs.1,749.88 crore.

The bank opened 134 new branches during the financial year 2012-13, taking the total number of branches to 1,013.

SBT has 758 branches in Kerala, which is 75 percent of the bank's total network.