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September 19th, 2016, 03:41 PM
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Join Date: Mar 2012
Re: State Bank of Travancore Quarter Results

State Bank of Travancore said its net benefit for the March quarter 2016 fell 67.63% because of higher procurements.

Net benefit for the quarter remained at Rs.62.14 crore when contrasted with Rs.191.97 crore a year prior.

Net premium wage (NII) or the center wage a bank gains by giving credits expanded 8.6% to Rs.631.31 crore from Rs.581.40 crore a year ago. Other pay expanded to Rs.414.61 crore from Rs.371.59 crore in the same time frame a year ago, an ascent of 11.58%.

Gross non-performing resources (NPAs) rose 35.76% to Rs.3,199.96 crore toward the end of the March quarter from Rs.2,357.05 crore a year back.

Procurements and possibilities bounced 217.34% to Rs.449.69 crore in the quarter from Rs.141.71 crore a year prior. The bank said its procurement for NPAs hopped 464.3% from a year prior to Rs.520.32 crore.

In December, the Reserve Bank of India (RBI) directed an advantage quality audit over the managing an account area, taking after which banks were requested that perceive obvious focused on resources as NPAs.

RBI likewise approached banks to make satisfactory procurements for these focused on resources over the third and fourth quarters of the current financial year. This could hit the gainfulness of some banks.

As a rate of aggregate advances, the bank's gross NPAs remained at 4.78% toward the end of the March quarter when contrasted with 3.87% in the past quarter and 3.37% in the year-back quarter.

Net NPAs were at 2.77% when contrasted with 2.45% in the past quarter and 2.04% in the same quarter a year ago.

Progresses for the quarter fell 4.74% to Rs.65,466.27 crore, while stores rose 11.03% to Rs.1,01,118.80 crore.

The board affirmed a profit of Rs.5 per offer.

Shares of State Bank of Travancore shut 2.71% down at Rs.389.05 on BSE, while India's benchmark Sensex rose 1.28% to 26,007.30 focuses.


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