State Bank of Travancore (SBT) recorded a net profit of Rs.304.34 crore in 2013-14, compared to Rs.615.04 crore in 2012-13, a year-on-year drop of 50.52 per cent.

The operating profit was Rs.1,369.69 crore in 2013-14, as compared to Rs.1,351.01 crore in the previous year.

In a release issued on Saturday, the bank said the net profit for the last quarter of 2013-14 was Rs.48.58 crore, as against Rs.165.98 crore in the year ago period.

Overall business turnover grew to Rs.1,60,119 crore from Rs.1,52,108 crore.

The bank earned a total income of Rs.10,558.49 crore compared to Rs.9,287.86 crore in the previous year, the year-on-year increase being 13.68 per cent.

Net interest income grew by 11.98 per cent to Rs.2,383.15 crore from Rs.2,128.20 crore.

Other income grew by 30.46 per cent to Rs.851.95 crore from Rs.653.02 crore, the bank said. The net interest margin stood at 2.43 per cent as at the end of 2013-14.

Interim dividend

The board declared an interim dividend of Rs.2.50 per share of the face value of Rs.10.

Capital adequacy ratio under the Basel-III framework as on March 31, 2014 was 10.79 per cent against a minimum of 9 per cent stipulated by the Reserve Bank of India and the Tier-1 CRAR (Capital to Risk (Weighted) Assets Ratio) was 8.46 per cent against the stipulated 7 per cent.

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