State Bank of Mysore has reported a net profit of Rs 72.84 crore for the first quarter ended June 30, 2007 registering a year-on-year growth of 43.11 per cent against same quarter period of previous fiscal’s figure of Rs 50.89 crore.
The bank’s operating profit at the end of the reported quarter at Rs 117.61 crore was up by 14.74 per cent over the corresponding period of the previous year figure of Rs 109.06 crore, the bank, said in a statement on Saturday.
Decline in CAR
The bank’s capital adequacy ratio at 11.25 per cent in the reporting quarter as against 11.39 per cent in June 2006 declined due to sharp increase in risk weighted assets of 39.65 per cent. The bank’s gross NPA declined by 8.58 per cent year on year to Rs 358.53 per cent as on June 30, 2007 from Rs 392.19 crore as on June 30, 2006 and Rs 383.76 crore as on March 31, 2007.
The aggregate deposits of the bank reached a level of Rs 22,871 crore registering a growth of Rs 1,476 crore over March 2007 at an annualised growth rate of 27.59 per cent.