The Hindu Business Line : State Bank of Hyderabad net up 70 pc

State Bank of Hyderabad (SBH)has registered a growth of 24.34 per cent in total business, 21.71 per cent in operating profit and 70.2 per cent in net profit for the fiscal ended March 2006.

The bank posted a total business of Rs 56,738 crore, an operating profit of Rs 868.09 crore and a net profit of Rs 427.04 crore for the fiscal under review, which were approved by the SBH board on Tuesday. This has yielded an EPS of Rs 2,476 per share of Rs 100 each, while the book value per share improved to Rs 12,255 (Rs 10,236).

According to the SBH Managing Director, Mr Amitabha Guha, the bank recorded a growth of 19.73 per cent in deposits at Rs 35,474 crore (Rs 29,627 crore), while the advances improved by 32.88 percent at Rs 21,264 crore (Rs 16,002 crore). The credit deposit ratio improved to 61.83 per cent (55.53 per cent). The bank has proposed a dividend of 400 per cent for the year under review.

In terms of market share, the bank improved its share in total business to 1.56 per cent during the year against 1.53 per cent in the previous fiscal; share in deposits were at 1.65 per cent (1.62 per cent), while market share in advances improved to 1.42 per cent (1.39 per cent).

Mr Guha said during the year the bank implemented several business process re-engineering initiatives and they were yielding encouraging results. SBH has also successfully brought down its gross NPAs to Rs 453.06 crore from Rs 553.32 crore in the previous fiscal, translating into 2.13 per cent (3.46 per cent). The net NPAs have come down to 0.36 per cent from 0.61 per cent in the previous fiscal.

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