SBT Q1 net up 84 Per cent

Thiruvanathapuram: State Bank of Travancore (SBT) has registered 84-per cent increase in net profit during the first quarter ended June 30, over the same period last year.

The net profit for the quarter was Rs 94.01 crore as against Rs 51.22 crore in the previous year, according to a statement from the bank.

The net interest income increased by Rs 45.44 crore to touch Rs 203.52 crore, while other income went up by 26.47 per cent to reach Rs 136.50 crore as against Rs 107.93 crore last year.

The capital adequacy ratio improved from 11.36 per cent as on March 31, to 12.34 per cent at the end of the quarter.

The earnings per share stood at Rs 188.02 (non-annualised) as compared to Rs 102.44 in the corresponding period last year.

The aggregate deposits of the bank recorded a growth of Rs 1,324 crore during the quarter, representing an increase of 195 per cent over the growth of Rs 449 crore last year. The savings bank deposits rose by Rs 253 crore (Rs 106 crore).

Retail lendings went up by Rs 39 crore. The net non-performing assets declined from 1.39 per cent as at the end of the previous year to 1.06 per cent at the end of the quarter.