: The State Bank of Travancore (SBT) has crossed a major landmark, the bank’s business crossing Rs. 1,50,000 crore as on February 28.
The bank’s year-on-year growth of business was of the order of Rs.28,880 crore during the year. The period since March last saw the total business grow by Rs.23,204 crore. During the period, deposits grew to Rs. 84,483 crore from Rs. 71,470 crore and advances to Rs. 66,225 crore from Rs. 56,034 crore.
In percentage terms, the growth of deposits came to 18.21 per cent and gross advances to 18.19 per cent. Growth in deposits and advances during the second half of 2012-13 have been 12.78 per cent and 13.49 per cent respectively.
The current fiscal has also seen the bank increasing its presence in 76 new centres, taking the total number of branches to 955. The bank has also installed 21 new ATMs, taking the total ATM network of the bank to 950. The bank proposes to increase its branch network to 1,000 branches by March end.