SBM Q4 net up 41%

SBM Q4 net up 41%

State Bank of Mysore on Friday reported 41 per cent rise in its net profit at Rs 107 crore for the quarter ended March 31, 2014, as against Rs 76 crore in the same period last year. Sequentially, net profit in the fourth quarter increased 26 per cent.

Total business crossed Rs 1.12 lakh crore as on March 14. The bank continued its focus on the retail business with retail deposits growing 24.5 per cent during the year. Retail advances registered all-round growth during the year with home loans growing 18 per cent and auto loans by 24 per cent year-on-year. Besides improving current account and savings account (CASA) ratio by 189 bps to 33.25 per cent, net interest margin continues to be healthy at 3.02 per cent. 

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