SBH net up 47% to Rs 151cr

Hyderabad, January 30: | Updated: Jan 31 2002, 05:30am hrs
State Bank of Hyderabad (SBH) has reported a 46.78 per cent increase in its net profit for the third quarter ended December 31, 2001. The net profit stood at Rs 151.26 crore against Rs 103.05 crore during the same period last year.

The total income recorded a growth of 16.79 per cent at Rs 1,636.51 crore as compared to Rs 1,401.23 crore in the corresponding period last year. The income from investments has recorded a growth of 16.17 per cent and stood at Rs 729.36 crore (Rs 627.82 crore).

The bank’s total business increased to Rs 23,114 crore from Rs 21,933 crore as at the end of March 2001 with deposits at Rs 14,837 crore and advances at Rs 8,277 crore at the end of December 2001.

The credit-deposit (CD) ratio as of December 31, 2001, stood at 55.78 per cent as against 52.82 per cent in March 2001. The core deposits recorded a growth close to Rs 1,000 crore during the period. The priority sector advances as a percentage to net bank credit was at 42.90 per cent was well above the benchmark of 40 per cent.

The bank also launched new products like ‘Savings Plus’ and ‘Salary Plus’ for the benefit of retail customers.