The Hindu Business Line : SBH annual net drops to Rs 251 cr

STATE Bank of Hyderabad has reported a total business of Rs 45,619 crore for the fiscal ended March 2005, recording a growth of 22.77 per cent over the previous fiscal.

Deposits have grown by 20.46 per cent to Rs 28,856 crore, while advances grew by 28.62 per cent at Rs 16,002 crore for the fiscal.

However, following the hit on treasury profits during the year, the bank suffered a fall in net profit at Rs 250.9 crore, from Rs 381.2 crore in the previous fiscal, according to its Managing Director, Mr Amitabha Guha.

The bank has a provision of Rs 96 crore towards payment of wage arrears. It has brought down its gross non-performing assets (NPAs) to 3.46 per cent (Rs 553.32 crore) from 5.56 per cent (Rs 691.35 crore) the previous fiscal and net-NPAs to 0.61 per cent (Rs 95.32 crore). The bank has a target of achieving a growth of Rs 8,800 crore in business during the current fiscal, taking it to Rs 54,419 crore.

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