State Bank Of Travancore Q1 net up 13 pc to Rs 53.86 crore

Mumbai, Aug 03 (UNI) State Bank of Travancore, a subsidiary of State Bank of India, has posted 13.12 per cent increase in profit after tax to Rs 53.86 crore in the quarter ended June 30 2006 as compared with Rs 47.61 crore for the quarter ended June 30 2005.

Announcing the results, the Bank said its total income has increased by 14.44 per cent to Rs 698.94 crore for the quarter ended June 30, 2006 from Rs 610.73 crore for the quarter ended June 30 2005.

Further the Provisions and Contingencies of the company grew to Rs 106.77 crore in June 2006 as against Rs 84.01 crore for the quarter ended June 30 2005. The provision and contingencies include provision for NPAs to the tune of Rs 11 crore.

The capital adequacy ratio of the bank stands at 11.25 per cent as compared to 10.32 per cent.

On July 2, 2006, CRISIL assigned the AAA/Stable (Assigned) for State Bank of Travancore's Rs 1.4 bn Bond issue. It reaffirmed (Reaffirmed) Rs 20 billion Certificate of Deposit Programme.

UNI SN PM AW1849