SBT to improve its CD ratio to 50%
Thiruvananthapuram: State Bank of Travancore (SBT) is planning to improve its credit-deposit ratio in Kerala to 50 per cent in the current year from 48.07 per cent as on 31 March 2003. The bank is planning to come out with new products and schemes to raise the ratio, says Amitabha Guha, managing director. SBT had posted a net profit of Rs 171.04 crore in 2002-03, representing an increase of 41 per cent over the previous year. The bank's total business also crossed Rs 25,000 crore during the year. Guha says the bank is set to achieve 100 per cent mechanisation of all branches by September 2004. As at the end of last year, as many as 320 branches has been fully computerised. By the end of the current year, 73 more ATMs will be installed in addition to the existing 52 ATMs. The bank's 46 ATMs are inter-linked to the network of 1,600 ATMs of the State Bank group located across the country. Going into the details of the bank's performance last year, Guha said of the total deposits of Rs 15,926 crore, the NRE deposits accounted for Rs 6,858 crore, constituting 43 per cent of the total deposits. The gross NPA came down to 6.67 per cent from 9.41 per cent and the net NPA to 3.06 per cent from 5.72 per cent. During the year, the spread improved to 2.52 per cent from 2.15 per cent in the previous year, while the expense ratio moved down to 44.72 per cent from 50.92 per cent in the previous year. This was achieved mainly through planned containment of expenses. The business per employee stood at Rs 2.18 crore as against Rs 1.79 crore in the previous year. The net profit per employee also increased to Rs 1.51 lakh from Rs 1.06 lakh. The personal segment advances improved their share in the total advances to 27.91 per cent from 26.82 per cent. Out of the total growth of Rs 1,735 crore in advances, the personal segment accounted for Rs 805 crore. The thrust on retail lending would continue in the current year also, Guha said. He said SBT would join the Core Banking Solution of the State Bank group that would be operational in a phased manner in the current year.
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ICICI Bank employees stage demonstration
Coimbatore: Around 150 bank employees of ICICI Bank demonstrated in front of the bank here condemning the "vindictive attitude of the bank management." ICICI Bank is believed to have served transfer orders en masse to those employees who participated in the all-India strike on 21 May protesting against the "anti-labour policies" of the central government. The Coimbatore District Bank Employees' Association organised the demonstration.
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