St Bank of Mysore Q2 net up 53.50%

The State Bank of Mysore (SBM), the Bangalore-based associate bank of State Bank of India (SBI) has posted a 53.50% rise in its net profit at Rs 91.18 crore during the second quarter ending September 30, 2007 when compared with the corresponding period of last fiscal.

The bank's total income for the period went up by 48.41% to Rs 709.97 crore compared to the same period last fiscal.

For the half year ending September 30, 2007, the bank has posted 48.70% rise in its net profit at Rs 164.02 crore. The increase is mainly on account of  a robust  year-on-year growth of 46% in interest income.

The bank's Capital Adequacy Ratio stood at 11.12% as of September 2007 against the regulatory benchmark of 9%.