State Bank of Travancore has reported a net profit of Rs 191.97 crore in the fourth quarter compared with Rs 48.58 crore a year ago, registering a growth of 295 per cent.
For the full fiscal 2014-15, profit came in at Rs 335.53 crore as against Rs 304.34 crore a year ago, SBT MD Jeevandas Narayan and other senior officials told reporters on Thursday evening.
On future plans, he said SBT proposes a business growth of Rs 28,000 crore with deposits of Rs 18,000 crore and advances of Rs 10,000 crore in the current financial year.
The bank has announced a dividend of 50 per cent against 25 per cent last year.
It also proposes to increase its footprint by opening 100 more branches and 200 more ATMs during the year.
The bank, at present, has 1,157 branches and 1,602 ATMs, covering 18 states and three Union Territories.
SBT, a Kerala-based bank, has 838 branches and 1,256 ATMs in the state alone, he added.
“Moreover, the main focus of the bank will be retail business, with 70 per cent of the growth targeted to come from this segment in the current year,” Mr. Narayan said.
The overall business stood at Rs 1,60,984 crore, comprising total deposits of Rs 91,077 crore and gross advances of Rs 69,907 crore.
NRI deposits recorded a growth of Rs 4,645 crore in 2014-15, touching the of Rs 29,608 crore mark.
Gross NPAs stood at a lower level of Rs 2,357 crore as of March 2015 against Rs 3,367 crore at the end of December 2014.
