State Bank of Hyderabad (SBH) Net Profit first quarter ended June 30 2011 : Public sector lender State Bank of Hyderabad (SBH) today reported a net profit of Rs 284 crore for the first quarter ended June 30, up 41.1% over the same period last fiscal.
The net interest income (NII) grew by 15.23% to Rs 713.49 crore during the quarter as compared to Rs 619.17 crore during the first quarter of 2010-11,
Deposits increased to Rs 92,616 crore in the April-June period, clocking a growth of 16.30% over the last year. Advances rose Rs 66,226 crore, up 21.53%.
Per-employee business increased to Rs 11.54 crore from Rs 9.82 crore as on June, 2010, a growth of over 17%, the lender said. Business per branch grew to Rs 119 crore from Rs 110 crore in the first quarter of FY11.
The SBH's branch network increased to 1,324 with the opening of 130 new ones during the last fiscal year. Another 150 branches are planned for the current financial year together with around 80 in un-banked centres, which will be furthering financial inclusion.
Over 4,000 officers and clerical staff are under the process of recruitment to take care not only of current needs but to be groomed for assuming greater responsibilities in the coming years
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