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State Bank of Mysore gains after strong Q3 earnings

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Capital Market Mumbai
Last Updated : Apr 22 2013 | 2:44 PM IST

The bank announced Q3 results after market hours on Monday, 28 January 2013.

Meanwhile, the BSE Sensex was down 68.30 points or 0.34% at 20,035.05.

On BSE, 1,567 shares were traded in the counter as against average daily volume of 9,148 shares in the past one quarter.

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The stock hit a high of Rs 703.25 and a low of Rs 693.35 so far during the day. The stock had hit a 52-week high of Rs 774.40 on 2 January 2013. The stock had hit a 52-week low of Rs 440 on 1 June 2012.

The stock had outperformed the market over the past one month till 28 January 2013, gaining 3.72% compared with the Sensex's 3.39% rise. The scrip had also outperformed the market in past one quarter, jumping 40.25% as against Sensex's 7.94% surge.

The mid-cap bank has equity capital of Rs 46.80 crore. Face value per share is Rs 10.

State Bank of Mysore's ratio of gross non-performing assets (NPA) to gross advances stood at 3.99% as on 31 December 2012, lower than 4.33% as on 30 September 2012 but higher than 3.67% as on 31 December 2011. The ratio of net NPA to net advances stood at 1.95% as on 31 December 2012, higher than 1.92% as on 30 September 2012 and 1.73% as on 31 December 2011.

The bank's provisions and contingencies for non-performing assets declined 45.4% to Rs 58.85 crore in Q3 December 2012 over Q3 December 2011.

State Bank of Mysore's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 11.04% as on 31 December 2012, lower than 11.84% as on 30 September 2012 and 12.81% as on 31 December 2011.

State Bank of Mysore is a subsidiary of State Bank of India (SBI), India's biggest commercial bank in terms of branch network. SBI holds 92.33% stake in State Bank of Mysore (as per the shareholding pattern as on 31 December 2012).

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First Published: Jan 29 2013 | 11:32 PM IST

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