SBH Q1 net up 19% at Rs 93 crore

Written by Agencies | Hyderabad, August 30: | Updated: Aug 30 2007, 22:27pm hrs
Public sector lender State Bank of Hyderabad (SBH) has recorded a growth of 18.98 per cent in its net profits at Rs 93.27 crore during Q1 of 2007 compared to Rs 78.32 crore for the same period during last fiscal.

Amitabha Guha, Managing Director, SBH told reporters that the bank's performance in all sectors is extremely good and it plans to launch insurance product shortly.

He said the bank business has crossed Rs 73,500 crore and it is expected to touch Rs one lakh crore by next March.

When asked about the merger of the bank with its parent bank SBI, Guha said it was imminent given the present scenario in banking industry that the SBI subsidiaries may merge in future.