Aided by a healthy loan growth of 17 per cent, State Bank of Travancore (SBT), an associate bank of State Bank of India (SBI), posted a 31 per cent growth in net profit at Rs 132 crore in the December quarter.
Net interest income (NII), the difference between interest earned and interest expended, rose 14 per cent to Rs 1,325 crore.
Net interest margin (NIM) was at 2.5 per cent in the third quarter.
Capital adequacy ratio (CAR) of the Thiruvananthapuram-headquartered bank was 11.4 per cent with tier-1 capital of 7.95 per cent. Parent SBI plans to infuse part of its Rs 3,004 crore infusion from the government in its associate banks and international subsidiaries.
SBT's gross non performing assets (NPA) rose to 3.04 per cent from 2.82 per cent from year ago and net NPA stood at 1.83 per cent rising 19 basis points year-on-year (y-o-y).
Deposits grew 21 per cent to reach Rs 80,000 crore with NRI (non-resident Indian) deposits rising 32 per cent y-o-y.
Loan growth was 17 per cent at Rs 65,560 crore at December end. The bank's agriculture lending also grew in tandem with total loan growth, rising 17 per cent to Rs 8,581 crore.
The bank has linked the accounts of more than 100,000 customers to their Aadhaar numbers, SBT said in a statement.
The bank added branches in 75 new centres in FY13 till December, taking total number of branches to 954. SBT added 21 new ATMs, taking the total ATM network to 950. Seventy-seven per cent of SBT's total branches and 82 per cent of ATMs are in Kerala.
SBT's shares closed at Rs 597.5 up 2 per cent on the Bombay Stock Exchange.