State Bank of Mysore announced its financial results for the Quarter and nine months ended Dec’13.
The Net Interest Income of the Bank during the Quarter and nine months ended Dec’13 and stood at Rs.1,409 crores (LY-Rs.1,373 crores). The Other Income increased to reach a level of Rs.390 crores (LY-Rs.364 crores).
Capital to Risk-adjusted Ratio (CRAR) of the Bank stood at 11.2% (under Basel III), as against a minimum of 9% stipulated by RBI.
The Savings Deposit of the Bank at Rs.16,570 crores showed an increase of 17 % yoy.
Share of high cost deposits has come down from 27% to 17%.
Retail deposits of the Bank registered a growth of Rs 5,212 crores (16.3% annualized) over March’13 level.
CASA deposits have grown by 220 bps to 33.6% since Mar’13.
Strong Retail focus (y-o-y growth) - Home Loan -18%, Auto 24% and Agri 17%.
The Net Interest Margin continues to be healthy at 2.99%.
The Net Profit is down by 45% (Rs. 85 crores) in Q3FY14 over Q3FY13, consequent to muted growth in operating income due to provision made towards wage revision and pension liabilities and enhanced provisions for bad debts. However, the Net Profit for Q3FY14 at Rs. 85 crores is higher by 184% over Q2FY14.
The Bank has set up over 1,532 POS Machines, Cash Dispensing Machines besides, Multi Functional Kiosks, SSKs, Green Channel Counters, ATMs in Large numbers and has been successful in migrating 43% of transactions through Alternate Delivery Channels.
The Net Interest Income of the Bank during the Quarter and nine months ended Dec’13 and stood at Rs.1,409 crores (LY-Rs.1,373 crores). The Other Income increased to reach a level of Rs.390 crores (LY-Rs.364 crores).
Capital to Risk-adjusted Ratio (CRAR) of the Bank stood at 11.2% (under Basel III), as against a minimum of 9% stipulated by RBI.
The Savings Deposit of the Bank at Rs.16,570 crores showed an increase of 17 % yoy.
Share of high cost deposits has come down from 27% to 17%.
Retail deposits of the Bank registered a growth of Rs 5,212 crores (16.3% annualized) over March’13 level.
CASA deposits have grown by 220 bps to 33.6% since Mar’13.
Strong Retail focus (y-o-y growth) - Home Loan -18%, Auto 24% and Agri 17%.
The Net Interest Margin continues to be healthy at 2.99%.
The Net Profit is down by 45% (Rs. 85 crores) in Q3FY14 over Q3FY13, consequent to muted growth in operating income due to provision made towards wage revision and pension liabilities and enhanced provisions for bad debts. However, the Net Profit for Q3FY14 at Rs. 85 crores is higher by 184% over Q2FY14.
The Bank has set up over 1,532 POS Machines, Cash Dispensing Machines besides, Multi Functional Kiosks, SSKs, Green Channel Counters, ATMs in Large numbers and has been successful in migrating 43% of transactions through Alternate Delivery Channels.
