SBM net up 52 per cent
By Our Banking Bureau | 08 May 2004
Bangalore: State Bank of Mysore (SBM) has registered a net profit of Rs 176.38 crore for the year 2003-04, up by 52 per cent over the last fiscal.
The bank has recommended a 60 per cent dividend. SBM's aggregate deposits grew 23.52 per cent during the year to touch Rs 10,860.5 crore, while advances grew 19.5 per cent to touch Rs 6,632.23 crore.
Retail and priority sector advances would continue to form the bulk of advances in the current fiscal, said Y. Vijayanand, SBM managing director. He added that about Rs 1,050 crore would go to those two sectors.
Housing finance would form a larger share of total advances, he said, adding that the bank was also planning to focus on the personal segment.