SBH net increases 29%

SBH net increases 29%

State Bank of Hyderabad has recorded a net profit of `1,317.13 crore, compared to `1,019.51 crore in March 2014, an increase of 29.19 per cent. Net interest income increased by 10.49 per cent from `3,975.99 crore to `4,392.61 crore. The Capital Adequacy Ratio as per Basel III norms as on March 15 stood at 11.26 per cent, which is much above RBI prescription.

The Bank said, "Intensive NPA recovery efforts taken by the Bank have yielded results, and the GNPAs declined from `5,824.20 crore in March 2014 to `4,984.77 crore in March 2015. As a result, GNPA ratio declined from 5.89 per cent to 4.59 per cent (decrease in 130 bps), and Net NPA ratio reduced from 3.12 per cent to 2.24 per cent (decreased by 88 bps), during the period.

Provision coverage ratio (PCR) improved from 54.50 per cent in March 2014 to 61 per cent in March 2015. Bank’s total business stood at `2,40,775 crore as of March 2015, consisting of total deposits of `1,32,022 crore and total advances of `1,08,753 crore. The Credit Deposit Ratio was 82.89 per cent as on March 2015, up from 82.13 per cent in March 2014. CASA deposit increased by 16.87 per cent YoY, from `36,882 crore in March 2014 to `43,105 crore in March 2015.