State Bank of Travancore (SBT) has notched Rs 154.09 crore net profit, logging 12.84% profit growth in Q2. In the same period in the previous fiscal, net profit was only Rs 136.56 crore.
The total business of the bank has touched Rs 59,734 crore, a bank release, here, has announced. Business grew by 23.42% (y-o-y) from Rs 48,398 crore as at the end of September 2006.
The operating profit during the period was Rs 287.95 crore, a bank release, following a meeting of the board of directors of SBT, said.
The bank’s income for the half year increased by 30.28% to Rs 1807.20 crore from Rs 1387.16 crore in the same period in the previous year. Interest Income has gone up by 30.58% (year-on-year) to reach Rs 1704.59 crore as against Rs 1305.37 crore (y-o-y) in the previous year.
The deposit base of the bank is up by 20.04% to reach Rs 33,102 crore as on September 7. Gross advances rose by 27.90%. This has Rs 26,632 crore in the same period. The future thrust is on micro-credit and joint liability groups, the board of directors decided.