State Bank of Hyderabad posts 21 per cent growth in net profit
The bank has registered an 8.25 per cent increase in total business
By : DC Correspondent
Update: 2015-10-29 07:16 GMT
Hyderabad: State Bank of Hyderabad (SBH), an associate bank of SBI, posted nearly 21 per cent rise in its net profit at Rs 375 crore for the second quarter of fiscal 2016 as against Rs 310.52 crore in the yearago period.
According to Mr Santanu Mukherjee, the managing director of SBH, the bank has registered an 8.25 per cent increase in total business at Rs 2.36 lakh crore during the quarter under review. In line with the trend in the banking industry, SBH has seen a mismatch in the advances and deposits. While the bank has received Rs 1.31 lakh crore deposits in the quarter, it could lend only Rs 1.05 lakh crore.
With the low credit off-take by industry, the bank’s personal segment loan portfolio has seen a 21.7 per cent increase. The cost to income ratio has decreased by 3.28 per cent from 47.78 per cent to 44.50 per cent, owing to lower deposit rates and improved efficiency. The bank has also improved its return on equity (RoE) by 0.77 per cent.