SBH netprofit rises by 20.42% to Rs 301.25 crore

HYDERABAD: The State Bank of Hyderabad on Thursday reported a 20.42 per cent increase in net profit at Rs 301.25 crore for the quarter ended December 2011 as against Rs 250.17 crore registered during the corresponding period the previous fiscal. SBH also said its capital adequacy ratio stood at 12.17 per cent, much above the RBI benchmark of 9 per cent. The bank posted a growth of 21.91 per cent in business at Rs 1,67,300 crore while deposits and advances increased to Rs 96,130 crore and Rs 71,170 crore respectively.For the first nine months ended December 2011, SBH’s net profit increased by 14.16 per cent to Rs 817.23 crore from Rs 715.89 crore. Similarly, the net interest income grew by 34.02 per cent at Rs 7,637.94 crore while operating profit rose by 12.59 per cent at Rs 1,706.34 crore. Agriculture sector advances made grew by Rs 1,555 crore during the first nine months taking the portfolio to Rs 12,230 crore while the MSME sector advances stood at Rs 11,867 crore