MARKET UPDATE
| State Bank of Travancore net rises 31 percent to Rs 132 cr Mon, 28 Jan 2013 15:21:00 +0530 |
| Business Standard Economy Policy News State Bank of Travancore, associate bank of State Bank of India reported posted 31% rise growth in net profit of Rs 132 crore in the December quarter on the back of healthy loan growth. Net interest income (NII) the difference between interest earned and interest expended rose 14% to Rs 1,325 crore. Net interest margin (NIM) was at 2.5% in the third quarter. The banks capital adequacy ratio (CAR) was 11.4%. Gross non-performing assets (NPA) rose to 3.04% from 2.82% year ago and net NPA stood at 1.83% rising 19 basis points year on year. Deposits growth was 21% to reach Rs 80,000 crore with NRI deposits rising 32% y-o-y. Loan growth was 17% to Rs.65,560 crore at December end. The bank’s agriculture lending also grew in tandem with total loan growth rising 17% to Rs 8,581 crore. Bank has linked the accounts of more than one lakh customers to their Aadhaar numbers, the statement from the bank said. The bank added branches in 75 new centres in the financial year till December taking total number of branches to 954. 21 new ATMs were installed by the bank taking the total ATM network of the bank to 950. Of the total network 77% of its branches and 82% of its ATMs are in the state of Kerala. |
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