SBM & SBH - Q2 Results

State Bank of Mysore Q2 profit up 8.7%

State Bank of Mysore recorded an 8.68 per cent increase in profit to Rs 145.35 crore in the second quarter (Q2) of this fiscal (2012-13).

The bank’s revenues rose to Rs 1,609.55 crore, a 19.20 per cent increase over the same period last year. EPS stood at Rs 31.06 against Rs 16.62 recorded last year.

The bank’s asset quality slipped with the percentage of gross NPA (non-performing assets) to gross advances rising to 4.33 per cent (3.72 per cent).

Gross NPA in Q2 stood at Rs 1,780.31 (Rs 1,334.38 crore) and percentage of net NPA to net advances, at 1.92 per cent (1.82 per cent).

State Bank of Hyderabad Q2 net drops 8% as operating expenses rise

State Bank of Hyderabad’s net profit for the quarter ended September 30 fell 8 per cent, mostly on account of an increase in operating expenditure.

Its net profit for the quarter was Rs 213.43 crore, down from Rs 232.04 crore in the year-ago period.

The bank’s total business expanded by 14.41 per cent to touch Rs 1,85,616 crore (Rs 1,62,241 crore) . The ratio of gross NPA and net NPA to advances stood at 3.30 per cent and 1.42 per cent respectively.

SBH will be adding another 150 branches this fiscal to its existing 1,490 branches.