State Bank of Travancore (SBT), an associate of State Bank of India, has opened its first retail Network Office in Chennai in state of Tamil Nadu which is also the first Network Office of the bank outside Kerala. The office, headed by a General Manager, would be controlling the zonal offices in Chennai, regional offices in Mumbai and New Delhi.
Besides it would also be controlling the proposed zonal office in Bangalore and the Regional Office in Hyderabad, which is expected to come up in the next couple of months. These offices control 255 branches with an aggregate business turnover of Rs 25,000 crore. Out of this, 137 branches are located in Tamil Nadu.
The bank has reported 30.41% rise in its net profit at Rs 131.99 crore for third quarter ended December 31, 2012 as compared to Rs 101.21 crore for the same quarter in the previous year. Total income of the bank has increased by 20.45% at Rs 2297.15 crore for quarter under review as compared to Rs 1907.06 crore for the quarter ended December 31, 2011.
