3 SBI associate banks wipe out bad loans

Three associate banks of State Bank of India "" State Bank of Patiala, State Bank of Indore and State Bank of Saurashtra "" have achieved zero non-performing assets (NPA) status in the financial year ended on March 31, 2004.

The net NPA of SBI's seven associate banks came down to 0.84 per cent in 2004 compared with 3.13 per cent in the preceding fiscal. Aggregate net profit of these banks shot up 37.77 per cent to Rs 1,937.71 crore from Rs 1,407 crore.

State Bank of Saurashtra tops the list in terms of net profit growth. The bank's net profit rose by 91.66 per cent to Rs 177.39 crore from Rs 92.55 crore.

The second is State Bank of Mysore. Its net profit rose by 52.15 per cent to Rs 176.38 crore against Rs 115.92 crore. State Bank of Bikaner & Jaipur's net profit stood at Rs 301.52 crore, up 48.32 per cent from Rs 203.28 crore in the preceding fiscal.

State Bank of Travancore's net profit rose by 43 per cent to Rs 244.60 crore from Rs 171.04.

State Bank of Patiala's net profit increased by 33.64 per cent to Rs 430.36 crore from Rs 322.02 crore.

The net profit of State Bank of Hyderabad rose by 26.47 per cent to Rs 381.20 crore from Rs 301.40 crore.

State Bank of Indore saw its bottom line grow by 12.94 per cent to Rs 226.26 crore from Rs 200.32 crore.

During the financial year 2003-04, deposits and advances of these seven associat banks grew by 20.33 per cent and 21.65 per cent, respectively.