SBT Q4 profit jumps four-fold

Friday, May 8, 2015,20:33 IST By metrovaartha A A A

Thiruvananthapuram | Kerala’s premier bank State Bank of Travancore, which registered a four-fold increase in its profit in the quarter four of the financial year 2014-15, proposes to  open 100 more branches and 200 more ATMs in the current financial year.
The net profit of the bank stood at Rs 192 crore as compared to previous year’s Q4 results of Rs 49 crore.
Bank Managing Director Jeevandas Narayan told newspersons here last evening that the reasons for the achievement was mainly on account of reduction in interest  expenditure, increase in other income including treasury income and a reduction in the gross non performing asset(GNPA) level over the previous quarter.
He said the net profit for the financial year 2014-15 stood at Rs 335.53 crore as against a net profit of Rs 304.34 crore recorded during FY 2013-14.
He said SBT’s NPA level stood at a reduced level of Rs 2357 crore as on March 31, 2015 against Rs 3367 crore as at the end of December 2014.
He said the bank has declared a dividend of 50 per cent as against 25 per cent last year.
He said the overall business of the bank stood at Rs 1,60,984 crore comprising of total deposit of Rs 91,077 crore and gross advance of Rs 69,907 crore. NRI deposits recorded a growth of Rs 4,645 crore during the year and reached the level of Rs 29,608 crore.