State Bank of Mysore Q3 profits up 39.50%

http://www.thehindubusinessline.com/industry-and-economy/banking/state-bank-of-mysore-q3-profits-up-3950/article4353943.ece

State Bank of Mysore’s (SBM) profits rose 39.50 per cent to Rs 154.77 crore in the third quarter of the current fiscal.

The bank’s total income was up 13.19 per cent to Rs 1,616 crore. EPS stood at Rs 33.07 compared with Rs 23.70 recorded last year.

SBM’s asset quality improved with percentage of gross non-performing assets (NPA) to gross advances at 3.99 per cent (3.67 per cent). Gross NPA for Q3 stood at Rs 1,772.36 (Rs 1,396.70 crore) and percentage of net NPA to net advances stood at 1.95 per cent (1.73 per cent). Return on asset (ROA) annualised stood at 0.98 per cent (0.80 per cent).

The bank’s net interest income increased 11.35 per cent to Rs 461 crore (Rs 414 crore). Net interest margin (NIM) was higher at 3.27 per cent from 3.23 per cent.