Tags:
Journalism of Courage
State Bank of Patiala has declared its financial results for the quarter ended June 30,2013 as per which the operating profit of the Bank has increased from Rs 441.01 crores as in June 2012 to Rs 445.96 crores in June 2013.
However,the net profit of the Bank has declined from Rs 224.01 crores in June 2012 to Rs 117.55 crores in June 2013 mainly due to higher provisioning for Non Performing Assets and stressed assets.
The deposits of the Bank as on June 2013 grew by 6.93 per cent year on year basis and advances registered growth of 14.42 per cent. The level of current accounts and saving accounts (CASA) deposits has increased from 24.84 per cent in June 2012 to 26.47 per cent in June 2013. The Bank recorded growth of 25.39 per cent in MSE Advances.
In the meanwhile,the State Bank of Patiala has reduced its Base Rate by 25 ;basis points from 10.25 per cent to 10.00 per cent according to Chief Manager,Public Relations,V.P.Gupta.
