SBS makes allround growth in half-year results

Ahmedabad, Oct 18 (UNI) The State Bank of Saurashtra (SBS) has made allround growth with good performance in various areas during the first half year of 2006-07, says Mr S K Singh, managing director, SBS, here today.

Talking to reporters here, Mr Singh said that the Bank's net profit for half year ended on September 30, 2006 is Rs 47.14 crore compared to Rs 30.71-cr in previous years during the same period.

The growth registered works out to 53.5 %.

He said, similarly total business of the SBS -- Deposits plus Advances -- have increased by Rs 1911.12-cr from Rs 22213.60-cr as on March 31, 06 to Rs 24304.71-cr as on September 30, 2006. This presents a growth rate of 17.20 per cent on annualised basis.

While, the growth in turnover on year-to-year basis is Rs 4002.72 cr reflecting a growth rate of 19.72 %.

The deposits of the Bank has increased by Rs 1056.52-cr from Rs 13695.50-cr as on March 31, 2006 to Rs 14752.02-cr as on September 30, 2006. While advances grew by Rs 2180.92-cr at a growth rate of 29.58 % to reach a level of Rs 9552.69-cr at the end of Sept-06 from Rs 7371.77-cr in Sept-05, Mr Singh added.

UNI MP PM SKB1755