State Bank of Patiala Q1 net up 15.50 pc at Rs 135.60 cr

Bank has achieved a growth of 27% in farm advances and 19% in MSME loans during the first quarter ending June 30

Public sector lender State Bank of Patiala (SBoP) today said it has registered 15.50% growth in its net profit at Rs 135.60 crore for the first quarter of current fiscal.

The bank in a release said it has achieved a growth of 27.17% in farm advances and 19.07% in MSME loans during the first quarter ending June 30.

"Our total deposits have reached the level of Rs 91,621 crore despite the high cost deposits coming down by about 41%," the release said.

It further said the bank opened 54 new branches in current fiscal and out of which, one third were opened under financial inclusion programme.

The total number of branches of the bank stood at 1,259.