FINANCIAL RESULTS FOR THE QUARTER
ENDED 30th JUNE, 2006
SBM announced
its financial results (reviewed) for the 3 months period
ended June 2006, recording growth in
Net
profits, deposits and advances. The net profit at Rs.50.90
crores has recorded an 8.96% increase over the relevant
figures as at Q1 2005-06 (Rs.46.71 crs) mainly on account
of higher net interest Income and despite lower income
from Treasury operations and provisions on transfer of
securities to HTM and marking to market.
The operating
profit at the end of the Quarter at Rs.109.06 crores
was lower than the relevant figures in the corresponding
quarter of 2005-06 (Rs.131.58 crores) primarily due
to lower income from sale /purchase of securities
by Rs.30.66 crores.
Interest on Advances registered
a robust growth of 39% over the corresponding figure
in Q1 2005-06. The total income of the Bank has also
registered an impressive growth of 13.63% from Rs.415.78
crores during Q1 2005-06 to Rs. 472.45 crores during
the current fiscal. The Net Interest Margin incresed
from 3.37% during Q1 last year to 3.45% during the current
year.
The
Aggregate Deposits of the Bank reached the level
of Rs.17,274 crores, registering a growth of Rs.1,095
crores (27.08% annualised) over March 2006. Personal
segment deposits reached a level of Rs. 7.957 crores
accounting for 46.06 % of the aggregate deposits. The
cost of deposits has increased to 5.02% in June, 2006
as compared to 4.75% in June, 2005.
The Total Advances of the Bank stood
at Rs.12,723 crores, registering a growth of Rs.660 crores
(21.89% annualised) over March, 2006. Due to additional
thrust given for retail business, the agricultural &
Personal segment advances improved by Rs.245 crores
(61.52% annualised) and Rs.133 crores (19.70% annualised)
respectively over March, 2006 levels. Housing Loans
and Education Loans together registered a growth of Rs.94.52
crores over March, 2006 levels. The disbursements to
agricultural sector during the quarter were to the tune
of Rs.383 crores.
Foreign Exchange turnover of The Bank,
at Rs.6,399 crores, was marginally below the levels achieved
during June, 2005.
The Bank extended financial assistance
to 11,595 Self Help Groups to an extent of Rs.92.32
crores. The Bank has been recognised for its efforts
in extending assistance to SHG by NABARD who have awarded
the Bank the first prize for the year 2005-2006 in
SHG - Bank Credit Linkages achievement.
The
Bank has 215 ATMs as on 30.06.2006 and has plans to add
another 46 ATMs before March, 2007.
The
Bank has merged the two regional rural Banks into
a single RRB called Cauvery Kalpatharu Grameena Bank
with Head Quarters at Mysore.
