SBH registers 42% increase in net profit at Rs1166 crore

State Bank of Hyderabad has registered an increase of 42% in net profit during the year ending March 31, 2011.
   
Renu Challu, managing director, SBH told mediapersons last evening that the net profit increase was at Rs1166 crore, 42% up, against Rs823 crore the previous fiscal. The operating profit grew by 35% to Rs2319 crore as against Rs1721 crore for 2009-2010.
   
She said the increase in profit is primarly on the back of higher net interest income which grew by 53%.
   
Challu said total business grew by impressive Rs27,500 crore to touch Rs1,56,935 crore as on March 31, 2011, a growth of 21%. Total deposits reached a level of Rs91,488 crore, recording a YoY growth of 20% over Rs76,186 crore.
   
Advances also increased by Rs12,103 crore to Rs65,447 crore registering a YoY growth of 23% over Rs53,344 crore as on March 2010, Challu said adding that the CD ratio improved by 154 basis points-from 71.29% as on March 2010 to 72.83% as on March 2011.
   
Advances grew well diversified across all business segments, clearly signalling a deeper penetration by the bank in the lives of the customers across the board.