State Bank of Travancore
Encyclopedia
State Bank of Travancore (SBT), is a subsidiary of the State Bank Group
and also has private share-holders. It is the premier bank of Kerala State, India
, where it has 700 branches. Overall, SBT has a network of over 792 branches spread over 16 Indian states .
State Bank of Travancore continued its record of strong performance during the
year ended March 31, 2011 also, in the key parameter Shri P Pradeep Kumar,
Managing Director, said that the bank registered a growth of 20.95 per cent in
its operating profit at Rs. 1,176 crore against Rs. 972 crore in the previous year
driven by a healthy growth of 21.14% in Net Interest Income at Rs. 1,696 crore
against Rs. 1,400 crore last year.
Total income improved by 18 per cent to Rs. 5,810 crore from Rs. 4,906 crore.
Total expenditure, excluding provisions and contingencies, stood at Rs. 4634
crore against Rs. 3,934 crore with interest expenditure accounting for Rs. 3,533
crore (Rs. 2,978 crore).
After taking into account additional provisions for staff, NPA and income tax,
the net profit has moved up by 6.35% to Rs. 727.73 crore from Rs. 684.27 crore.
The Operating Profit for the fourth quarter was higher by 13.47% at Rs. 315.10
crore against Rs. 277.68 crore in the same quarter last year. The Net Profit for the
quarter improved to Rs. 238.32 crore from Rs. 217.23 crore. The performance of
the Bank was taken on record at a meeting of the Board of Directors of the
Bank held at Mumbai on the 27th April 2011.
The directors have declared a total dividend of Rs. 18 per share of face value Rs.
10. Bank has already paid an interim dividend of Rs. 8 per share in October 2010.
Earnings per share improved to Rs. 145.54 from Rs. 136.85 and the book value to Rs.640.57 from Rs. 531.56. The net interest margin has improved from 2.82 to
2.87%. Return on Assets stood at 1.12%, while Return on Equity was at
24.83%, which continues to be amongst the highest among Public Sector
Banks. The Bank’s Board of Directors had earlier approved a Rights Issue of
shares to the shareholders for an amount of Rs. 500 crore. The approvals from the
RBI and State Bank of India for the issue have been received. The capital
augmentation will serve to improve the Capital adequacy ratio of the Bank in
2011-12.
The overall business of the bank registered a growth of 20.3 per cent at Rs.
1,04,202 crore against Rs. 89,345 crore with Deposits accounting for Rs. 58,158
crore (Rs. 50,883 crore) and Advances Rs. 46,044 crore (Rs. 38,461 crore). Priority
sector advances grew by 21.68 per cent to Rs. 17,353 crore from Rs. 14,260 crore.
The share of Priority sector lending has moved to 44.07% of the Adjusted Net
Bank credit from the previous year’s position of 43.87%, against the stipulated
benchmark of 40%. Agriculture segment was the star performer during the year. The Advances under this segment moved up by 70% to Rs. 5,580 crore
from Rs. 3,289 crore at the end of previous year.
The percentage of Gross NPAs to Gross Advances stood at 1.80% on 31st
March 2011 with the Gross NPA level at Rs. 835.22 crore. The percentage of Net
NPA to Net advances remained below 1% at 0.98% as on 31st March 2011.
The Bank’s Provision Coverage Ratio stood at 69.01%, and is comfortably
ahead of the timelines agreed with RBI to reach 70% coverage ratio by
September 2011. The total CRAR position under Basel-II framework as on
31/03/2011 was 12.54% against a minimum of 9% stipulated by RBI. The Tier-
I CRAR as on 31/03/2011 at 9%. The Bank has further expanded its credit
deployment in Kerala, particularly in Housing Loans, Car Loans and other
Retail Loans. Bank’s CD Ratio in Kerala has improved from 59% in March
2010 to 62% in March 2011.
Financial Literacy. 29 villages in Kerala and 14 villages in Tamil Nadu have
been allocated to the bank for financial inclusion. The Bank has set up
Customer Service Points and commenced enrollments in 18 villages. Bank has
also opened a branch in Perumanna village in Calicut district, which is one of
the 29 villages allotted to the bank. The products offered under In financial
inclusion, under “SBT-SAHAYA HASTHAM” umbrella consists of an SB Account (Zero balance), A Recurring Deposit account and an Overdraft (General Credit Card) for Maximum of Rs. 10,000/- for the rural poor.
The Bank opened 44 new branches during the financial year, taking the total number of branches to 792. The Bank has on hand RBI approval to open 75 more branches, and Internal approvals to open 55 more branches under General permission accorded by Reserve Bank of India. Alternative channel reach was expanded further; 107 new ATMs were installed during this financial year, taking the total ATMs to 833. These ATMs are part of over 25,000 strong State Bank Group ATM Network. 621 (79%) of the Bank’s branches are in the state of Kerala. Bank’s CD Ratio in Kerala has improved from 59% in March 2010 to 62% in March 2011.
Rural Self Employment Training Institutes have been started by the Bank in Wayanad, Pathanamthitta, Alappuzha, and Kottayam for providing skill upgradation training to the rural youth with focus on BPL category. The 4 institutes had trained 9847 persons and 95% of the people are women beneficiaries, majority of the trainees are reported to be successful in starting
self-employment ventures.
Bank has signed MoU with Unique Identification Authority of India (UIDAI) to become registrars for UID Project of the Government of India.
of Travancore
. Following violent resentment against the dictatorial rule of Sir. C.P.Ramaswamy Iyer, the bank no longer credits his role. Instead, the Bank now credits the Maharaja of Travancore as the founder, though the Raja had little to do with the founding. Although the Travancore government put up only 25% of the capital, the bank undertook government treasury work and foreign exchange business, apart from its general banking business. Its registered office was at Madras. In 1960, it became a subsidiary of State Bank of India
under the SBI Subsidiary Banks Act, 1959, enacted by the Parliament of India
.
Between 1959 and 1965, SBT acquired numerous small, private banks in Kerala.
State Bank of India
The State Bank of India is the largest Indian banking and financial services company with its headquarters in Mumbai, India. It is state-owned. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest...
and also has private share-holders. It is the premier bank of Kerala State, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, where it has 700 branches. Overall, SBT has a network of over 792 branches spread over 16 Indian states .
State Bank of Travancore continued its record of strong performance during the
year ended March 31, 2011 also, in the key parameter Shri P Pradeep Kumar,
Managing Director, said that the bank registered a growth of 20.95 per cent in
its operating profit at Rs. 1,176 crore against Rs. 972 crore in the previous year
driven by a healthy growth of 21.14% in Net Interest Income at Rs. 1,696 crore
against Rs. 1,400 crore last year.
Total income improved by 18 per cent to Rs. 5,810 crore from Rs. 4,906 crore.
Total expenditure, excluding provisions and contingencies, stood at Rs. 4634
crore against Rs. 3,934 crore with interest expenditure accounting for Rs. 3,533
crore (Rs. 2,978 crore).
After taking into account additional provisions for staff, NPA and income tax,
the net profit has moved up by 6.35% to Rs. 727.73 crore from Rs. 684.27 crore.
The Operating Profit for the fourth quarter was higher by 13.47% at Rs. 315.10
crore against Rs. 277.68 crore in the same quarter last year. The Net Profit for the
quarter improved to Rs. 238.32 crore from Rs. 217.23 crore. The performance of
the Bank was taken on record at a meeting of the Board of Directors of the
Bank held at Mumbai on the 27th April 2011.
The directors have declared a total dividend of Rs. 18 per share of face value Rs.
10. Bank has already paid an interim dividend of Rs. 8 per share in October 2010.
Earnings per share improved to Rs. 145.54 from Rs. 136.85 and the book value to Rs.640.57 from Rs. 531.56. The net interest margin has improved from 2.82 to
2.87%. Return on Assets stood at 1.12%, while Return on Equity was at
24.83%, which continues to be amongst the highest among Public Sector
Banks. The Bank’s Board of Directors had earlier approved a Rights Issue of
shares to the shareholders for an amount of Rs. 500 crore. The approvals from the
RBI and State Bank of India for the issue have been received. The capital
augmentation will serve to improve the Capital adequacy ratio of the Bank in
2011-12.
The overall business of the bank registered a growth of 20.3 per cent at Rs.
1,04,202 crore against Rs. 89,345 crore with Deposits accounting for Rs. 58,158
crore (Rs. 50,883 crore) and Advances Rs. 46,044 crore (Rs. 38,461 crore). Priority
sector advances grew by 21.68 per cent to Rs. 17,353 crore from Rs. 14,260 crore.
The share of Priority sector lending has moved to 44.07% of the Adjusted Net
Bank credit from the previous year’s position of 43.87%, against the stipulated
benchmark of 40%. Agriculture segment was the star performer during the year. The Advances under this segment moved up by 70% to Rs. 5,580 crore
from Rs. 3,289 crore at the end of previous year.
The percentage of Gross NPAs to Gross Advances stood at 1.80% on 31st
March 2011 with the Gross NPA level at Rs. 835.22 crore. The percentage of Net
NPA to Net advances remained below 1% at 0.98% as on 31st March 2011.
The Bank’s Provision Coverage Ratio stood at 69.01%, and is comfortably
ahead of the timelines agreed with RBI to reach 70% coverage ratio by
September 2011. The total CRAR position under Basel-II framework as on
31/03/2011 was 12.54% against a minimum of 9% stipulated by RBI. The Tier-
I CRAR as on 31/03/2011 at 9%. The Bank has further expanded its credit
deployment in Kerala, particularly in Housing Loans, Car Loans and other
Retail Loans. Bank’s CD Ratio in Kerala has improved from 59% in March
2010 to 62% in March 2011.
Financial inclusion
The Bank is actively pursuing initiatives to improve Financial Inclusion andFinancial Literacy. 29 villages in Kerala and 14 villages in Tamil Nadu have
been allocated to the bank for financial inclusion. The Bank has set up
Customer Service Points and commenced enrollments in 18 villages. Bank has
also opened a branch in Perumanna village in Calicut district, which is one of
the 29 villages allotted to the bank. The products offered under In financial
inclusion, under “SBT-SAHAYA HASTHAM” umbrella consists of an SB Account (Zero balance), A Recurring Deposit account and an Overdraft (General Credit Card) for Maximum of Rs. 10,000/- for the rural poor.
The Bank opened 44 new branches during the financial year, taking the total number of branches to 792. The Bank has on hand RBI approval to open 75 more branches, and Internal approvals to open 55 more branches under General permission accorded by Reserve Bank of India. Alternative channel reach was expanded further; 107 new ATMs were installed during this financial year, taking the total ATMs to 833. These ATMs are part of over 25,000 strong State Bank Group ATM Network. 621 (79%) of the Bank’s branches are in the state of Kerala. Bank’s CD Ratio in Kerala has improved from 59% in March 2010 to 62% in March 2011.
Rural Self Employment Training Institutes have been started by the Bank in Wayanad, Pathanamthitta, Alappuzha, and Kottayam for providing skill upgradation training to the rural youth with focus on BPL category. The 4 institutes had trained 9847 persons and 95% of the people are women beneficiaries, majority of the trainees are reported to be successful in starting
self-employment ventures.
Bank has signed MoU with Unique Identification Authority of India (UIDAI) to become registrars for UID Project of the Government of India.
History
The bank was established in 1945 as the Travancore Bank Ltd, at the initiative of C. P. Ramaswami Iyer, then DivanDivan
A divan was a high governmental body in a number of Islamic states, or its chief official .-Etymology:...
of Travancore
Travancore
Kingdom of Travancore was a former Hindu feudal kingdom and Indian Princely State with its capital at Padmanabhapuram or Trivandrum ruled by the Travancore Royal Family. The Kingdom of Travancore comprised most of modern day southern Kerala, Kanyakumari district, and the southernmost parts of...
. Following violent resentment against the dictatorial rule of Sir. C.P.Ramaswamy Iyer, the bank no longer credits his role. Instead, the Bank now credits the Maharaja of Travancore as the founder, though the Raja had little to do with the founding. Although the Travancore government put up only 25% of the capital, the bank undertook government treasury work and foreign exchange business, apart from its general banking business. Its registered office was at Madras. In 1960, it became a subsidiary of State Bank of India
State Bank of India
The State Bank of India is the largest Indian banking and financial services company with its headquarters in Mumbai, India. It is state-owned. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest...
under the SBI Subsidiary Banks Act, 1959, enacted by the Parliament of India
Parliament of India
The Parliament of India is the supreme legislative body in India. Founded in 1919, the Parliament alone possesses legislative supremacy and thereby ultimate power over all political bodies in India. The Parliament of India comprises the President and the two Houses, Lok Sabha and Rajya Sabha...
.
Between 1959 and 1965, SBT acquired numerous small, private banks in Kerala.
- 1959: SBT acquired the assets and liabilities of Indo-Mercantile Bank, which Sri Popatlal Goverdhan Lalan had helped found in Cochin in 1937.
- 1961: SBT acquired Travancore Forward Bank, Kottayam Orient Bank, and Bank of New India (est. 1944) after the Reserve Bank of IndiaReserve Bank of IndiaThe Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
put the banks under moratorium. - 1963: SBT acquired Vasudeva Vilasom Bank.
- 1964: SBT acquired Cochin Nayar Bank (est. 1929) and Latin Christian Bank after the Reserve Bank of IndiaReserve Bank of IndiaThe Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
put the banks under moratorium. It also acquired Champakulam Catholic Bank. - 1965: SBT acquired Bank of Alwaye (est. 1942), and Chaldean Syrian Bank, which several leading families of Syrian ChristianSyrian Malabar NasraniThe Syrian Malabar Nasrani people, also known as Saint Thomas Christians, "'Nasrani Mappila'" and Nasranis, are an ethnoreligious group from Kerala, India, adhering to the various churches of the Saint Thomas Christian tradition...
origin had founded in 1918.
External links
- http://www.statebankoftravancore.com/home45.htm
- http://statebankoftravancore.com/new/press-release-Mar-11.pdf
- Find IFSC Code of STATE BANK OF TRAVANCORE branches in India, or Branch Details by IFSC Code