Public sector lender State Bank of Hyderabad (SBH) today announced net income of Rs 284 crore in the first quarter ended on 30 June to 41.1 per cent over the same period last fiscal year.
Net interest income (Nii) grew by 15.23 per cent of Rs 713.49 crore compared to Rs 619.17 crore quarter of the first quarter in 2010-11 SBH, said in a statement here.
Deposits increased to Rs 92,616 crore in April-June period rose 16.30 per cent clocking more than last year. Advances increased from Rs 66,226 crore up 21.53 percent. Per-employee business grew by Rs 11.54 crore RS 9.82 crore as June 2010, an increase of more than 17 percent, said the lender.
Business per branch increased from Rs 119 crore from Rs 110 crore in the first quarter of FY11.
SBH branch network increased to 1324, with 130 new opened during the previous fiscal year. The remaining 150 branches are planned for the current fiscal year, with about 80 centers in the un-banked, that is to promote financial inclusion.
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