Bangalore, Apr 25 UNI | 3 months ago

Public sector State Bank of Mysore (SBM), an associate of SBI, today reported a 41 per cent increase in its net profit during the fourth quarter ending March 31, 2014

The net rose to Rs 107 crore from Rs 76 crore YoY, SBM Chairman and Managing Director Sharad Sharma said. The total business for 2013-14 crossed Rs 1.12 lakh crore. For the year interest earned on advances rose six percent to Rs 1642 crore in the just ended fiscal.

The CASA ratio improved by 189 bps to 33.25 per cent, while the Net Interest Margin continued to be at an healthy rate of 3.02 per cent in Q4, compared to 2.99 per cent sequentially and 3.22 per cent during the year ago quarter.

The non performing assets remained a problem at 3.02 per cent. This was compared to 2.99 per cent during third quarter ending December 2013 and 3.22 per cent YoY.

(Posted on 26-04-2014)