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State Bank of Travancore net profit declines 30% to Rs 510 crore for FY11-12

According to SBT, the decline in net profit was due to various factors like additional provisions for staff, NPA and income tax payment

April 30, 2012 1:58 IST | India Infoline News Service

Kerala-based State Bank of Travancore (SBT) has said thatits net profit declined 29.85% to Rs 510.46 crore for the year ended 31 March2012 from Rs 727.73 crore in the previous year.  In the same period, the total income of thebank increased 29% to Rs 7,477 crore from Rs 5,819 crore in the previous year.

According to SBT, the decline in net profit was due tovarious factors like additional provisions for staff, NPA (non-performingasset) and income tax payment. The operating profit of the bank increased 6.19%to Rs 1,249 crore from Rs 1,176 crore in FY10-11.

During FY11-12, SBT opened 87 new branches, taking the totalnumber of branches to 879, with Kerala accounting for 676 branches.

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