State Bank of Travancore post 31% jump in net profits in Q3
By Neelima Shankar
Jan 29, 2013
Print    Email    RSS   

One of the five associate banks of State Bank of India, the south based State Bank of Travancore, has recorded a 31 percent hike in net profits, with the net profits currently standing at Rs. 132 crore. Last year during the same period, the bank had reported net profits at Rs. 101 crore.

Expressing his satisfaction on the bank's good performance, the Managing Director of SBT, Mr. P. Nandakumaran said that the enhancement in the bank's performance can be credited to the improvement in the general operations of the bank. It is also indicating a reverse movement in the rising cost of deposits which was bringing down its overall performance.

Reportedly, previous year the bank had managed to handle the challenge posed by NRI fixed deposits.     

On the release of SBT's financials, Nandakumaran said, "Growth in advances resulting in a higher net interest income also aided in achieving a growth in the net profit."

The net interest income rose to Rs. 1511 crore, from Rs. 1325 crore, reporting a year-on-year increase in net interest income by 14.04 percent. Its net interest margin currently stands at Rs.2.50 percent, as compared to 2.63 percent recorded previous year.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Plan your tax, don’t evade it
Know about corporate fixed deposits
Manage your FD in a better way
Haven’t filed a return of your income?...
Fetch higher interest rate on your savings...

MEXING: CaℒL Giℛℒ In Hoshiarpur 09855660911...
Sakeela.CaℒL Giℛℒs In Kharar 0985566O911...
NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...

Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive