State Bank of Patiala net profit up by 18.53 %

Patiala: State Bank of Patiala (SBOP) on Saturday reported a growth rate of 18.53 per cent in net profit to Rs 652.96 crore for the year 2010-11.

Bank's net profit in 2009-10 was Rs 550.89 crore, said an official release said on Saturday.

The total business of the bank also crossed Rs 1,20,000 crore comprising deposits of Rs 68,066.05 crore and advances of Rs 51,433.20 crore in 2010-11.

The Bank is Basel-II compliant with Capital Adequacy Ratio of 13.41 per cent against the regulatory requirement of 9 per cent. The Tier-I capital is 8.65 per cent of Risk Weighted Assets (RWA).

The business per employee of the Bank increased from Rs 8.95 crore to Rs 9.56 crore and the Profit per employee increased from Rs 4.44 lakh in 2009-10 to Rs 5.20 lakh in 2010-11.

State Bank Of Patiala has also planned sale of gold coins.

Source: Financial Express