Date:27/05/2006 URL: http://www.thehindubusinessline.com/2006/05/27/stories/2006052704410600.htm

Back SBT targets Rs 9,000-cr biz growth

Our Bureau

Thiruvananthapuram , May 26

State Bank of Travancore (SBT), which recorded total business of over Rs 45,000 crore in 2005-06, is aiming at a business growth of about Rs 9,000 crore in the current year.

The bank is also planning to open about 40 new branches and add 100 more ATMs to its network during the year, according to Mr Sitaramam, Managing Director.

He told presspersons here that the bank's retail lending was projected to grow by Rs 3,160 crore in 2006-07. It has also projected a growth of Rs 870 crore in housing loans; Rs 810 crore in agricultural lending; Rs 200 crore in education loans and Rs 400 crore in loans to the small business segment.

In 2005-06, SBT had posted a net profit of Rs 258.68 crore as against Rs 247.13 crore in the previous year. It had also declared a dividend of 100 per cent, up from 75 per cent for the previous two financial years.

Mr Sitaramam said the credit deposit ratio of the bank, which stood at 73.30 per cent as on March 31, 2006, was targeted to be raised to about 80 per cent in the current year.