SBH net rises 42 %

April 29, 2011 11:53 pm | Updated 11:53 pm IST - HYDERABAD:

State Bank of Hyderabad has posted a 42 per cent growth in net profit for the year ended March 31, 2011, at Rs.1,166.24 crore against Rs.822.71 in the previous fiscal. For the last quarter of the fiscal, the growth in net profit was a steep 75.14 per cent as compared to the fourth quarter of 2009-10.

Announcing this at a press conference on Friday, SBH Managing Director Renu Challu said the increase in profit was primarily because of a higher net interest income that grew at 53 per cent year-on-year to Rs.2,849 crore from Rs.1,863 crore and because of other income that grew at 17 per cent.

Total business recorded a 21 per cent growth year-on-year at Rs.1,56,935 crore. It plans to open 150 more branches in 2011-12 and add over 3,500 personnel.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.