Even as the net profits eroded from Rs 63 crore in 1997-98 to Rs 43.45 crore in 1998-99, SBT has trimmed its NPAs and recorded a growth with deposits growing at 15.8 per cent and advances by 6.28 per cent. The total deposits of the bank have reached a level of Rs 8,864.39 crore, with NRI deposits constituting 41 per cent of the aggregate deposits. Advances have reached Rs 4,251.9 crore. Reflecting the thrust given to personal banking sector, the growth in individual housing loans alone was Rs 54 crore.

The fall in profits was caused by the cut in the prime lending rate (PLR) of the bank and provision towards wage arrears to staff, according to an SBT release. The gross investment has increased by 32.49 per cent during 1998-99 to reach Rs4,391.1 crore as on 31 March 1999.

However, the bank has been successful in bringing down the net non-performing assets (NPA) ratio to 10.8 per cent as against 12.21 per cent last year. Recovery of NPA is a thrust area for the bank. SBT's book value of the share for Rs 100 increased to Rs 762.20, while the earning per share (EPS) stood at Rs 86.90.

The bank has also marked to market 100 per cent of its investment portfolio. The RBI stipulation is only for 70 per cent. The bank had marked to market its entire investment portfolio to market in the last financial also. SBT has also not lagged behind in harnessing technology to improve the functional efficiency and customer service.

99 branches have been computerised. 28 customers are enjoying customer terminal facility. Telebanking facility has been extended at 13 branches. According to the bank release, SBT has a highly developed in-house software development facility. The total bank mechanisation package BOS (Bank's Own Software) developed in-hous, isfully Y2K compliant and has also copyright certification.

SBT has made substantial assistance to infrastructure projects in Kerala like Cochin International Airport Limited (CIAL), in the form of equity and term loans, National Thermal Power Corporation (NTPC) diesel power plant at Kayamkulam and diesel power plant at Nallalam.