State Bank of Mysore announced its financial results (reviewed) for the period ended December, 2007, recording all-round growth in net profits, deposits and advances.

• The Bank has earned a net profit at Rs.234.92 crores for the 9 months period ended December 2007 registering an increase of 42.16% over December ’06 levels (Rs.165.25 crores). The increase is mainly on account of an year on year growth of 11.76% in Net interest income and a growth of 30.33% in other income.

• The Bank’s Capital Adequacy Ratio stood at 11.48% as at December 2007 against the regulatory benchmark of 9%..

• The operating profit at the end of the 3rd Quarter at Rs.398.98crores is higher by 30.12% than the figures in the corresponding period of 2006-07 (Rs.306.62 Crores).

• The total income of the Bank registered an impressive year on year growth of 41.98% to reach Rs.2093.59 crores from Rs.1474.54 crores as at the end of December 2006.

• Gross Non Performing Assets of the Bank declined to Rs.358.58 crores as at December 2007 from Rs.389.95 crores as at December 2006. During this period the Gross NPAs declined to 1.83% of the gross advances from 2.51% as on 31st December 2006. Net Non Performing Assets ratio also declined to 0.36% from 0.37% as at December 2006

• Return on Assets (annualised) is at 1.09% as an December 2007 as against 0.95% as on Dec 2006.Earnings per share increased from Rs.153 in December 2006 to Rs.197 in December 2007. Return on Equity reached 27.44% (annualized) from 20.17% in December 2006.

• The Aggregate deposits of the Bank reached the level of Rs.24823 crores, registering an year on year growth of 27.15%, which compares favorably with ASCB growth (YOY) of 23.64 %. Personal deposits accounted for 44.00% of the aggregate deposits as on Dec’07.

• The total advances of the Bank stood at Rs.19607 crores, registering an year on year growth of 25.98% over December 2006 as against the ASCB growth (YOY) of 21.36%.
  
  
• Due to additional thrust given for retail business, the Agricultural & Personal segment advances improved by Rs.319 crores (19.49 % annualised) and Rs.469 crores (20.92% annualised) respectively over March, 2007 levels. Housing loans and Education loans together registered a growth of Rs.174 crores over March, 2007 levels at 11.50% (annualised). The disbursal in agricultural advances upto December 2007 is Rs.1508 crores. SME advances improved by Rs. 318 crores at 23.48% (annualised).
  
  
• Foreign Exchange turnover of the Bank, registered a growth of 36% (annualised) over December 2006 levels.

• During the 3rd quarter, the Bank’s Aggregate deposits increased by Rs.1075 Crores and Total advances increased by Rs.1281 Crores. The Net profit increased by Rs.70.90 Crores during the quarter.

• The Bank has extended financial assistance of Rs. 233.63 crores to 29199 Self Help Groups.

• The Bank increased the number of ATMs to 315 which are networked with the over 7500 ATMs of the State Bank Group

• The Bank has introduced instant transfer facility to any account within the “State Bank Group”.

• The Bank has been responding to the changing needs and preferences of customers and has been introducing new products & services. The Bank’s “MYBANK SURAKSHANA” which provides free life insurance cover to eligible depositors is the latest one and is the first of its kind in Indian Banking

• ITES like Internet Banking, RTGS, and NEFT are available to Bank’s customers at all the 653 branches.

  BANGALORE 16th Jan 2008		P.P.PATTANAYAK MANAGING DIRECTOR

State Bank of Mysore
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901 to 22353909 ; 22353473.
Fax: 91 80 22384480