State Bank of Travancore (SBT) has posted a net profit of Rs.163.60 crore for the quarter ended September 30, 2010, against Rs.122.49 crore during the corresponding period in the previous year, a growth of 33.55 per cent. The operating profit has improved by 37.71 per cent to Rs.261.67 crore.
Announcing the quarterly results of the bank, Managing Director P. Pradeep Kumar stated that the increase in operating profit was driven by increase in net interest income by 32 per cent to Rs.415 crore from Rs.313 crore.
The net profit for the first half year stood at Rs.313 crore compared to Rs.302 in the first half of the previous year. The bank had declared an interim dividend of Rs.8 per share earlier this month.
Gross business turnover increased by Rs.14,121 crore (17.55 per cent) year-on-year and touched Rs.94,580 crore.
