SBT net up 24%, to focus on retail banking

Thiruvananthapuram: State Bank of Travancore (SBT) has recorded a 24-per cent increase in net profits in 2001-02. The bank has projected its total business, excluding investments, to reach Rs 25,000 crore in the current year.

The bank had logged a total business of Rs 21,000 crore in 2001-02, earning a net profit of Rs 120.93 crore as against Rs 97.49 crore in the previous year.

SBT managing director Amitabh Guha says the banks focus in the current year will continue to be on retail banking and credit deployment in housing, personal and education segments.

He says this will help the bank improve its market share as also its credit-deposit (CD) ratio in Kerala. "As of now, the CD ratio is around 46 per cent and efforts will be made to take it to the level of at least 50 per cent during the current year." In 2001-02, SBTs deposits had increased by 16.30 per cent to Rs 13,460 crore, while the advances grew by 16.22 per cent to Rs 7,436 crore.

During the year, the gross non-performing assets (NPA) came down to 9.41 per cent from 11.38 per cent, while the net NPA declined to 5.72 per cent from 7.75 per cent. The bank has declared a dividend of 30 per cent for the year, same as the previous year.