SBH Q2 net profit rises 21% to Rs 375 cr

Public sector lender State Bank of Hyderabad (SBH) today posted 21 per cent increase in net profit at Rs 375 crore for the second quarter ended September 30.
The bank had registered a net profit of Rs 311 crore during the same quarter last year.
"SBH has achieved 21 per cent growth in net profit to Rs 375 crore. We have done quite good considering challenging time," SBH MD Santanu Mukherjee told reporters here.
The cost-to-income ratio decreased by 328 bps from 47.78 per cent to 44.50 per cent, he said, adding other income improved by 46.75 per cent from Rs 224 crore to Rs 329 crore.

"The Gross NPA decreased by 81 bps from 5.73 per cent to 4.92 per cent, while Net NPA decreased by 48 bps from 2.87 per cent to 2.39 per cent," Mukherjee said.
The Capital Adequacy Ratio is healthy at 11.11 per cent (Basel III), he said.

The total business was at Rs 2,36,352 crore, an increase of 8.25 per cent. The total advances grew 6.75 per cent to Rs 1,05,301 crore.
During the quarter, the total deposits increased 9.49 per cent to Rs 1,31,051 crore, while the total CASA Deposits increased 12.64 per cent to Rs 41,887 crore and the total Per Deposits rose 17.61 per cent to Rs 78,217 crore.

The personal segment loan portfolio increased 21.70 per cent. The total Operating Profit was up 20.84 per cent to Rs 1,522 crore while the other income was higher 31.22 per cent to Rs 607 crore.
Reacting to a query, Mukherjee said, "we may take tier-II bonds this year.