| The bank, which declared its third quarter numbers in Thiruvananthapuram, said its Q3 net profit stood at Rs 40.72 crore as against Rs 24.84 crore in the corresponding period last year. |
| SIB, which became the first bank to announce the Q3 results in this financial year, added that the cumulative profit for the period ended December 31, 2007 was to the tune of Rs 106.78 crore as against Rs 58.72 crore last year. This is excluding the extraordinary profit earned by selling the shares of Bharat Overseas Bank (BhOB). |
| The bank's total business rose by Rs 5,878 crore from Rs 18,626 crore to Rs 24,504 crore, year-on-year, registering a growth of 31.56 per cent. The deposits zoomed by Rs 3,960 crore to Rs 14,484 crore from Rs 10,925 crore, up 32.58 per cent, while the advances went up by Rs 2,318 crore to Rs 10,020 crore from Rs 7,702 crore, registering a growth of 30.10 per cent. |
| The bank posted a total income of Rs 1043.29 crore in the nine-month period, up 39.36 per cent as against Rs 748.63 crore for the same period of the previous year. |
| The gross NPAs dropped from to 2.53 per cent from 4.29 per cent, while net NPAs were drastically brought down to 0.49 per cent, from 1.49 per cent, the bank said. |
| The bank's top executives added that the bank had recently issued 2 crore equity shares with a face value Rs 10 a share at a premium of Rs 153 a share aggregating to Rs 326 crore to qualified institutional buyers. The FIIs currently hold 47.46 per cent in the bank as against the permissible limit of 49 per cent, they pointed out. |
| The bank has lined up plans to open as many as 13 more branches in the current financial year. This will take its total number of branches to 500. The bank, which has declared FY2007-08 as the Year of Youth, also unveiled a new deposit scheme, christened Youth Plus, with technology features focusing on the younger generation, they added. |
Top Section
Explore Business Standard