BUSINESS

State Bank of Mysore registers growth

The net profit of State Bank of Mysore registered a growth of 186.4 per cent at Rs. 90.29 crores in the first half of the current accounting period against Rs. 31.53 crores in the first half of last year. Sitaram Murthy, Managing Director, said the operating profit had gone up to Rs. 192.81 crores from Rs. 122.64 crores for the first six months of this year, an increase of 57.22 per cent. This was in spite of making provisions for voluntary retirement scheme of Rs. 14.93 crores and leave encasement Rs. 1.14 crores, which were not included in H1, last year.

The non-performing assets of the bank had gone up from 10.13 per cent to 10.39 per cent owing to drought in Karnataka, which had hit trade.

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