 "State Bank of Travancore raises Rs 515 cr via tier II bonds")
State Bank of Travancore's net profit for fourth quarter ended March 2016 nosedived to Rs 62 cr from Rs 191 cr in January-March 2015 on over five-fold increase in provisions for bad loans.
The total income in Q4 for State Bank of India's associate unit rose to Rs 2,801 crore from Rs 2,703 crore in January-March 2015.
Provisions for bad loans shot up to Rs 520 crore from Rs 90 crore.
Its stock closed 2.7% lower at Rs 398 per share on Bombay Stock Exchange.
Its net profit for year ended March 2016 were flat at Rs 337 crore as against Rs 335 crore for 2014-15. Its total income rose to Rs 10,757 crore in FY16, up from Rs 10,583 crore in Fy15.
Its directors have recommended dividend of Rs five per share of face value for 2015-16, same level of dividend payout last year.
