Mumbai, May 31: Buoyed by an increase in non-interest income, State Bank of Hyderabad has reported a 14 per cent increase in its net profit to Rs 127.81 crore for the fiscal 2000, compared to the previous year's profit of Rs 111.53 crore. The profit before taxes for the period has also increased by around 53 per cent to Rs 260.98 crore.The lower increase in net profit vis-a-vis gross profit could be attributed to a 129 per cent increase in provision for taxes for the year to Rs 133.17 crore. The non-interest income of the bank for the fiscal 2000 grew by 40 per cent to Rs 266.53 crore compared to the previous year's figures of Rs 190.29 crore.The net non-performing assets (NPAs) of the bank has come down from 8.78 per cent to 7.30 per cent. The bank has declared a dividend of Rs 3 per share of Rs 10 (30 per cent) for the fiscal 2000.
The deposits of the bank for the period increased by 18.48 per cent to Rs 11,948.34 crore and advances has grown by 14.17 per cent to Rs 6,087.58 crore.
The bank now has 236 computerised branches of which 89 are fully computerised. SBH has computerised 60 per cent of its business as on March 31, 2000. The bank has also installed eight ATMs - four at Hyderabad, three at Mumbai and one at Delhi.The bank has started electronic fund transfer at four metros and tele-banking facility at five branches.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.