For the year ended March 31, 2011, State Bank of Hyderabad (SBH) has posted a growth of 42% in its net profits.

The bank recorded a net profit of Rs 1,166 crore as compared to Rs 823 crore during the previous fiscal.

The bank said that its operating profit surged 35% to Rs 2,319 crore from Rs 1,721 crore in 2009-2010.

The surge in profit is mainly because of higher net interest income that climbed 53%.

Challu said that total biz increased 21% to Rs 27,500 crore to hit Rs 1,56,935 crore as on March 31, 2011.

Total deposits achieved Rs 91,488 crore, registering a YoY increase of 20% as compared to Rs 76,186 crore during the preview year.

Advances also surged Rs 12,103 crore to Rs 65,447 crore, recording a YoY increase of 23% as against Rs 53,344 crore as on 31st March 2010.

The advances grew across all biz sections, clearly signaling a deeper penetration by the bank in the lives of the clients across the board.