State Bank of Hyderabad's (SBH) net profit increased 13 per cent at Rs 250 crore in the third quarter ended December 31, 2010, compared with Rs 221 crore in the year-ago period.
According to Ms. Renu Challu, Managing Director, SBH, the growth in profit was driven by increase in net interest income, other income and exchanges, among others.
Focus areas
The performance for the nine-month period ending December 2010 was also very good with 26.6 per cent and 61.6 per cent growth in net profit and net interest income at Rs 715 crore and Rs 2,046 crore, respectively.
The bank would continue to focus on all sectors including corporate, retail and agriculture.
To open more branches
SBH, which has 1,264 branches at present, would be opening 150 branches in next three/four months and some ATMs with cash-deposit facility.
They are also in the process of recruiting 2,000 clerks and 1,104 officers.
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