Rs 121 crore net profit for SBT

The State Bank of Travancore (SBT) has achieved an all-time high net profit of Rs 120.93 crore during 2001-2002, which is an increase of 24.03 per cent over the previous year’s profit. SBT had declared a dividend of 30 per cent this year enabling a total pay-out of Rs 15 crore, SBT managing director Amitabh Guha told reporters here after the bank’s 42nd annual general meeting.

The bank maintained its status as the premier bank in the state with a market share of 17 per cent of the total branch network, 21 per cent of deposits and 22 per cent of advances. The total business of the bank crossed Rs 20,000 crore.