SBT FY06 net at Rs 258.68cr; payout at 100%

 Profitability could be sustained on account of an increase in the net interest income and lower depreciation on the investment portfolio, K Sitaramam, managing director of SBT, said here after the 46th AGM of the bank.

 The total business of the bank increased by Rs 4,989 crore. The gross NPAs were brought down to 3.18% in March 2006 from 4.28% in March 2005, while net NPAs were down to 1.47% in March 2006 from 1.81% in March 2005.

 Total deposits grew by Rs 1,863.50 crore in FY06 to touch Rs 25,996.51 crore. Personal deposits grew by Rs 1,719 crore. Deposits from NRIs grew by Rs 689.24 crore to Rs 7,857.97 crore that indicated the continued patronage of NRIs, Sitaraman said.

 The credit-deposit ratio of the bank increased to 73.30% in FY06 from 62.88% last fiscal. The bank continued to be the market leader in Kerala, having 22% marketshare in business. Among scheduled commercial banks, SBT's share in branch network is 16%.

 The bank's lending to priority sectors constituted 45.15% of net bank credit as against the stipulated benchmark of 40%. Lendings to agriculture registered a growth of Rs 741.59 crore to Rs 2,347.04 crorein FY06.