State Bank of Hyderabad's net down by 3.70 percent

Last Updated: Wed, May 08, 2013 11:20 hrs

Hyderabad, May 8 (IANS) State Bank of Hyderabad (SBH) has reported net profit decline of 3.70 percent for fiscal 2012-13. The profit during the year was Rs.1,250 crore against Rs.1,298 crore during 2011-12.

Announcing the results for the fourth quarter and the year, SBH managing director M. Bhagavantha Rao attributed the decline to Rs.485 crore provided for strengthening the balance sheet. He said the bank increased the provision coverage ratio to 65 percent from 62.40 percent.

The public sector bank crossed the Rs.2 lakh crore mark in total business. Its business during 2012-13 was Rs.2,10,532 crore, a year-on-year growth of 16.89 percent. The operating profit for the year increase by 5.11 percent from Rs.2,652.99 crore to Rs.2,788.44 crore on the back of 11.50 percent increase in net operating income from Rs.4,388.80 crore to Rs.4,893.90 crore.

The net interest income increased by 16.45 percent from Rs.3,364.49 crore during 2011-12 to Rs.3,917.90 crore during the last fiscal.

"Total deposits reached a level of Rs.1,18,509 crore, recording a YoY growth of 16.41 percent over Rs.1,01,806 crore as on March 2012," said Rao.

Advances increased by Rs.13,711 crore to Rs.92,023 crore, registering a YoY growth of 17.51 percent over Rs.78,312 crore during the previous fiscal. The managing director the growth in advances was spread across all segments and categories of customers with retail segment advances recording an impressive growth of Rs.3,595 crore (23.55 percent).

Credit to corporate comprises 55 percent of the bank's asset book and the share of MSME (micro, small and medium enterprises) advances at Rs.12,993 crore is at 14 percent. Housing loan registered a growth of Rs.1,889 crore (23.93 percent) and vehicle loans registered a growth of Rs.619 crore (45.02 percent) in 2012-13.

Talking about asset quality, Rao said the gross Non-Performing Asset (NPA) increased from Rs.2,007 crore (2.56 percent) to Rs.3,186 crore (3.46 percent). Net NPA increased from Rs.1,002 crore (1.30 percent) to Rs.1,449 crore (1.16 percent).

SBH opened 83 branches during 2012-13. It has crossed milestone of 1,000 branches in Andhra Pradesh and 1,500 branches all over India. It plans to open 150 branches during the current fiscal.

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