State Bank of Travancore 9-month net up 14%

BS 200 SCORECARD

State Bank of Travancore (SBT) posted 13.65 per cent increase in net profit at Rs 185.82 crore during the first nine months of the current financial year as against Rs 163.50 crore in the corresponding period last year.

According to the bank, its operating profit during the nine-month period increased by 21.24 per cent from Rs 526.75 crore to Rs 638.62 crore as on December 31, 2006. Net interest income rose on a y-o-y basis by 14.44 per cent to reach Rs 815.09 crore as against Rs 712.27 crore during the corresponding period last year. Non-interest income, excluding treasury income, also went up by 38.27 per cent on a y-o-y basis to Rs 211.45 crore as against Rs 152.92 crore during the period under review.

The performance of SBT during the first nine months 2006-07 was taken on record at a meeting of the board of directors of the bank held in Thiruvananthapuram today. 
 

Rs crore	Quarter ended Dec
	2005	2006	% chg
Interest earned	586.63	720.12	22.76
Other income	56.20	75.32	34.02
Total income	642.83	795.44	23.74
Total expenses	519.80	613.94	18.11
Operating profit	123.03	181.50	47.52
Net profit	59.62	49.26	-17.38
EPS (Rs)	119.24	165.40	38.71
CAR (%)	11.21	10.36	"�

SBT officials said the bank continued to improve its credit-deposit ratio in Kerala. The CD ratio of the bank in the state, which stood at 59.96 per cent as in March 2006, rose to 64.48 per cent during the period under review, an improvement of 452 basis points.

Gross advances grew by Rs 4,208 crore during the period as against Rs 2,189 crore during the same period last year. With this, the level of advances has risen to Rs 23,451 crore.

The growth in advances has been powered by the growth in retail lending, which has registered a remarkable growth of Rs 1,920 crore during the period under review as against Rs 1,675 crore during the corresponding period last year, the bank pointed out.

The share of retail lending constituted 53.01 per cent of total advances at the end of December 2006. Meanwhile, SBT's priority sector advances grew by 17.73 per cent during the the last nine months to post a growth of Rs 1,413 crore.