Mumbai  :  State Bank of Bikaner and Jaipur announced its financial results for the first quarter ended 30th June 2013. A meeting of the Board of Directors of SBBJ chaired by Shri Pratip Chaudhuri was held in Mumbai on Tuesday the 23rd July, 2013 which took on record the performance of the Bank during the FY 14 Q 1.

Shri B. Sriram, Managing Director of SBBJ informed that total advances grew by 13.29% YOY, while deposits growth was lower at 4.28% YOY mainly due to reduction in high cost deposits and CD’s from 14.46% in June 2012 to 7.66% of total deposits on 30th June, 2013. CASA deposits have improved by 334 bps YOY and now stand at 39.61%. CAR under Basel-III stands at 11.60% with Tier-I at 8.69%. Return on Equity (ROE) is at 15.25%, while ROA for the Bank is 0.91%.

Net NPA ratio % has been improved by 4 basis points from 2.31% to 2.27%. Provision Coverage Ratio (PCR) has also increased to 60.71% from 57.16% in June 2012. The net interest margin at 3.50% has improved by 36 basis points over March 2013.

The Bank has also contributed Rs. 1.00 crore to “Uttarakhand Chief Minister Relief Fund” for rehabilitation work in the disaster struck state as a part of their Corporate Social Responsibility.

Source : Sachin Murdeshwar