State Bank of Hyderabad Q3 net profit up 7%

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PTI: Hyderabad, Jan 31 2013, 21:56 IST

City-based public sector lender State Bank of Hyderabad today reported a jump of 6.80 per cent in net profit to Rs 321.72 crore for the third quarter (Q3) ended December 2012.

The company's net profit stood at Rs 301.25 crore in the year-ago period.

Total income for the quarter increased by 13.07 per cent to Rs 3,374.05 crore, SBH said in a statement.

While the gross NPA at 3.38 per cent remained almost at the same level YoY (3.35 per cent in December 2011), the net NPA declined to 1.48 per cent from 1.99 per cent a year ago.

The Capital Adequacy Ratio stood at 12.34 per cent under BASEL II as of December 2012, the bank said.

The branch network increased to 1,506 with the opening of 99 branches since December 2011. The Bank proposes to reach the 1,000 branches milestone in Andhra Pradesh during the current financial year, it said.

Over 900 officers have been recruited during this financial year and it proposes to recruit about 2,300 clerical staff during this year, SBH added.

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