State Bank of Travancore (SBT) registered a 13 per cent increase in net profit to Rs 217.22 crore for the quarter ended March 2010, as against Rs 192.03 crore in the corresponding quarter previous year.
For the financial year 2010, net profit was up 12.57 per cent to Rs 684.27 crore as against Rs 607.83 crore last year. Net interest income increased 9 per cent from Rs 1,282 crore in 2008-09 to Rs 1,400 crore. The board has declared a dividend of Rs 16 per share (160 per cent) compared with Rs 13 in the previous year.
SBT managing director AK Jagannathan said the growth in net profit was achieved against a challenging backdrop, on a high base of previous year, which saw 57 per cent increase in net profit.
