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State Bank of Travancore (SBT) has posted a net profit of Rs256 crore for the nine month period ended December 2013, compared to the net profit of Rs 449 crore for the same period previous year. The operating profit increased to Rs 1,030 crore upto this Q3 from Rs 965 crore for the same period a year ago, showing a YoY growth of 6.65%.
The Net Interest Income moved up from Rs1,558.43 crore to Rs 1,767.76 crore, showing a year on year growth of 13.43%.
As at the end of the third quarter of the fiscal, the Total Income of the Bank increased to Rs 7,785 crore from Rs.6,743 crore a year ago, registering a growth of 15.45%.
The Capital to Risk Weighted Assets Ratio (CRAR) of the Bank stood at 10.03% [under Basel III framework] as at the end of 3rd quarter of the fiscal. The Regulatory minimum prescribed by Reserve Bank of India is 9%.
Gross NPAs increased to 4.41% from 3.04% as at the end of corresponding quarter last year and Net NPAs stood at 2.73% against 1.83% as of the 3rd quarter previous year.
The Total business crossed Rs 1,60,000 crore and stood at Rs 1,61,886 crore as at the end of December 2013. The Deposits increased 16% to touch Rs 92,499 crore against Rs 80,043 crore a year ago. NRI Deposits have shown an impressive growth of Rs 4,696 crore (YoY – 28%).
The gross advances rose 6% year-on-year to Rs 69,387 crore as at the end of December 2013.
Bank has linked the accounts of over 19 lakh customers to their Aadhaar Numbers. Bank has become participants of the Aadhaar Payments Bridge of National Payments Corporation of India (NPCI), which is the system for Direct Benefit Transfer of Government benefits to the beneficiaries.
SBT has opened 21 new branches taking the total number of branches to 1,034. Also, 92 new ATMs were added during this period, taking the total ATM network to 1,057.
