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Our Bureau

Hyderabad , Oct. 23

State Bank of Hyderabad (SBH), the largest among the SBI associate banks, has reported a net profit of Rs 128.76 crore during the second quarter of current fiscal ended September as against Rs 71.14 crore in the corresponding quarter of previous fiscal, a growth of 81.02 per cent.

Addressing newspersons here on Monday, the SBH Managing Director, Mr Amitabha Guha, said the bank earned a total income of Rs 942.71 crore during the quarter under review as against Rs 761.81 crore in the corresponding quarter, a growth of 23.74 per cent.

He attributed the impressive performance to the business process reengineering exercise that ensured improved quality of service and delivery of credit. The bank could improve its net interest margin (NIM) to 3.32 per cent by September (3.25 per cent).

While the gross NPAs were brought down to 1.77 per cent in Q2 (3.66 per cent), net NPAs were reduced to 0.23 per cent from 1.04 per cent. The return on assets on annualised basis went up to 1.19 per cent from 0.74 per cent.

As at the end of September, the total business registered a growth of 25.02 per cent and stood at Rs 63,850 crore (Rs 51,075 crore). During the second quarter, the business growth was Rs 6,024.29 crore, more than double the growth in Q2 of 2005-06 of Rs 2,700.85 crore. The deposits stood at Rs 39,789 crore (Rs 33,328 crore), while advances stood at Rs 24,063 crore (Rs 17,747 crore).

"The market share in aggregate deposits of all scheduled commercial banks grew by five basis points to 1.7 per cent as at the end of September and in advances grew by three basis points to 1.45 per cent," Mr Guha said.

More Stories on : Financial Performance | Public Sector Banks

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