SBT Recorded Operating Profit of Rs 426.65 Crore in First Quarter

THIRUVANANTHAPURAM:
State Bank of Travancore recorded an Operating Profit of Rs 426.65 crore for the quarter ended 30 June, 2016. However, on account of higher provisions of Rs 1170 crore for NPA and additional prudential provisions for other stressed accounts, the Bank reported a Net loss of Rs 742.89 crore as on 30th June 2016 as against a Net profit of Rs 81.32 crore.
The Other income grew by around 35% Y-Y from Rs 260.72 crore as on 30th June 2015 to Rs 351.37 crore as on 30th June 2016, on the back of robust growth of 142% growth in Profit from Treasury operations. while Total deposits grew by Rs 10,255 crore YOY mainly driven by a robust CASA growth of Rs 5669 crore representing more than 55% of Total deposit growth.
The trend is also reflected during the current quarter of this Financial year with a CASA growth of Rs 1954 crore out of the Total deposit growth of Rs 3028 crore representing 65% of Total deposit BTgrowth during this quarter.
“The Bank has been consistently growing CASA Deposits and replacing high cost deposits and bulk deposits with retail deposits to cut interest costs. SBT’s Current and Savings (CASA) deposits ratio stood at 31.84% as on 31.03.2016 as against 29.79% as on 31.03.2015. The high cost deposit and bulk deposits came down sharply from 13.24% to 9.34% (YoY)”, C R Sasikumar, MD, SBT, said
The Capital to Risk Weighted Assets Ratio (CRAR) of the Bank as on 30th June 2016 stood at 10.43% as against 10.47% as on 30th June 2015. This is above the regulatory minimum of 9.625% prescribed by the Reserve Bank of India.
The Bank’s total advance stood at Rs 68,276 crore as on 30.06.2016, as against Rs 68,411 crore as on 30.06.2015. The Personal segment and SME advances grew by 10% and 12% respectively over the previous year. SBT’s total number of branches stood at 1,178 and the total number of ATMs were at 1,742 covering 16 States and 3 Union Territories.
The Bank has 851 branches and 1370 ATMs in Kerala alone. The Gross NPA stood at 9.38%, while the Net NPA stood at 5.99% as on 30th June 20161.03.2016 as against 3.37% as on 31.03.2015. Bank has provided additional Prudential provisions over and above RBI stipulations for some stressed accounts. The Provision Coverage Ratio (PCR) stood at 50.61%.
The audited financial results of the Bank as on 30.06.2016 was taken on record and approved at its Board meeting held on 26.07.2016.
eting held on 26.07.2016.