SBBJ: FY13 Net profit up by 11.99%

SBBJ: FY13 

·         RESULT

Net Profit of State Bank of Bikaner and Jaipur for the year ended 31.03.2013 increased by 11.99% from Rs.652.03 crore to Rs.730.24 crore. However, the net profit for Q4, 2012-13 fell 28%from Rs.247.88 crores to Rs.178.24 crores due to higher provisions.

                                                                                                (Rs. in crore)

Score Card		Quarter ended				Year ended
March-12		March-13		% Change		March-12		March-13		% Change
Net Interest Income		621.51		557.25		-10.34		2221.40		2565.81		15.50
Other Income		242.86		276.95		14.03		598.97		726.28		21.25
Net Operating Income		864.38		834.20		-3.49		2820.37		3292.09		16.73
Provisions		127.87		168.16		31.50		578.94		731.98		26.43
Net Profit		247.88		178.24		-28.09		652.03		730.24		11.99

A meeting of the Board of Directors of SBBJ chaired by Shri Pratip Chaudhuri was held in New Delhi on Monday the 6^th May, 2013 which took on record the performance of the Bank during the Q 4 FY 13 and FY 13.

 The  Net Interest Income at Rs. 2565.81 crores for the  year ended 31.03.2013 shows an increase of Rs.344.41 crore (15.50%) over the corresponding period of the last year.

The  net interest margin has marginally declined from 3.70% (March 2012) to 3.62% (March 2013) due to the impact of lowering of Base Rate and increase in cost of deposits during the year.

Shri B. Sriram, Managing Director of SBBJ informed that there is a growth in operating profit of 14.99% during the year ended March 2013 (Operating  profit increased from Rs.1489.61 crores for the year ended 31.03.2012 to Rs.1712.87 crores for the year ended 31.03.2013). This has helped the Bank register a growth in net profit despite a 17.12% increase in NPA provisions from Rs.479.58 crore in March 12 to Rs.561.72 crore in March 2013. The business of the Bank has grown by 17.06% during the year and reached Rs. 1.31 lac crores mark as at the end of March 2013.

ACHIEVEMENTS

During the year 2012-13 Bank opened its 1000^th branch at Sambhar (Jaipur District) which was inaugurated by Hon'ble Finance Minister Shri P. Chidambaram on 22^nd December 2012.  Also, the year Bank opened a record number of 90 branches during the year taking total number of Bank's branches to 1037 out of which 855 are in Rajasthan.

As a responsible Corporate Citizen, the Bank continues to undertake community based social activities such as tree plantation, free medical camps, blood donation camps, establishing water-huts, sports competition etc.

The Bank contributed Rs. 2 crores to Rajasthan Chief Minister Relief Fund.

ACCOLADES

The Bank has been awarded FINWIZ 2012 for Best Banker for Agriculture Credit (Mid-Size Banks).

The Bank has been awarded FINWIZ 2012 for 2^nd Best Banker for Financial Inclusion (Mid-Size Banks).

The Bank's  Jaitaran RSETI has been awarded "3^rd Best RSETI in India" on 28.07.2012 by Ministry of Rural Development.

The Bank has been awarded Skoch Digital Inclusion Award on 18.09.2012 for Centralized Salary & other Payments of all Rajasthan Government Employees.

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Specialized services of the Bank

Online Treasury Branch:

Online Treasury Branch was opened for implementation of e-payment facility for salary payment to Rajasthan State Government employees. This highly technology-driven Branch  is capable of being operated for entire Rajasthan/ India. This Branch makes salary payments to all Rajasthan Government employees across State, MNREGA and various other direct benefit payments.

Financial Super Market Branch (Cross Selling Bazaar)

In order to provide support to the branches of the Bank as well as the customers, a well-equipped Cross Selling Bazaar Branch has been created at Jaipur, which deals in insurance products, both Life and General Mutual Fund and Credit Card. The skilled representative from all cross selling channel partners is available at this Branch to provide all types of support to the branches and Bank's customers across India.  This branch is the first such Branch in India of any Bank.

Kohinoor Royal Banking Branch -

The Bank has opened, a "Ultra High Net worth Individual" Branch at Jaipur where all kinds of banking facilities are made available under one roof with 24x7 services. Eminent cricketer of the Indian Cricket Team Shri Rahul Dravid has inaugurated the branch on 14.05.2012.