A recent press report said that State Bank of Travancore (SBT), has said that its net profit has fallen by 28.51% to Rs 116.95 crore in the second quarter ended September 30, 2011. The bank had posted a net profit of Rs 163.59 crore for the July-September period of 2010.
Reports said that the total income of the bank went up to Rs 1,776.89 crore during the quarter, from Rs. 1,372.91 crore in the same period last fiscal.
Reports said that the bank’s net profit during the six months ended September 30, fell by 18.24% to Rs 256.20 crore from Rs 313.39 crore in the year-ago period. The total income of the bank for the April-September period rose to Rs 3497.30 crore from Rs 2673.80 crore in the corresponding period of 2010-11.
State Bank of Travancore (SBT) was established as Travancore Bank Limited in 1945. It was sponsored by the erstwhile princely state of Travancore. Under a special statute of the Indian Parliament (SBI subsidiary Banks Act 1959) it was made an Associate of the State Bank of India and a member of the State Bank Group, the largest banking group in India. It offers personal loans, home loan, vehicle loan, gold loan, education loan etc.