By March 31, 2013, the State Bank of Hyderabad (SBH) transacted business worth Rs two lakh crores and zooming towards unprecedented development, said SBH Managing Director M. Bhagwanth Rao here on Wednesday.
Speaking to the media along with General Managers Sudheer Babu, MP Sridharan and K. Subba Rao, he said the bank has transacted Rs 2,10,532-crore business and achieved 16.89% growth rate. He said the bank’s deposits were increased by Rs 1,18,509 crores this year. The profit during the year was Rs 1,250 crore as against Rs.1,298 crores during the preceding year. The net interest income increased by 16.45 percent from Rs 3,364.49 crore during 2011-12 to Rs.3,917.90 crore during the last fiscal.
Bhagwanth Rao said the SBH opened 83 branches during 2012-13 crossing the milestone of 1,000 branches in the State and 1,500 branches all over India. It plans to open 150 branches during the current fiscal, he added. (NSS)
