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Monday, July 28, 2014
Mr.Sharad Sharma M.D.Addressing media.
STATE BANK OF MYSORE
Q1-FY RESULTS- JUNE 2014.
NET PROFIT ZOOMS TO 44%.
- Other Income and NPA's recovered makes Net profit increase.
Total Business: (Rs. in crores)
Gross NPA : 5.13%
Net NPA : 2.72%
The bank has made cash recoveries of Rs.541 crores during the quarter and also has upgraded the assets of Rs.173 crores.
The credit deposit ratio is at 81%. Non Bulk deposits is at 88%.To a question about the proposed plans of Government of India regarding merger of the bank with State Bank of India,the Managing Director said that at present there is no
concrete information.The bank is planning to raise Rs.500 crores through Rights Issue. Capital Adequacy ratio as per Basel III norms was at 11.16% for the quarter.