State Bank Of Mysore Credit Rating

Hi buddy here I have come to get info about on State Bank Of Mysore Credit Rating, so can you plz tell me about the same ??

Hi buddy here I have come to get info about on State Bank Of Mysore Credit Rating, so can you plz tell me about the same ??

State Bank of Mysore is a nationalised bank in India, with headquarters at Bengaluru.

As you asking I am telling highest credit quality rating factors in State Bank Of Mysore strong parentage, operational and management synergies with State Bank of India (SBI)* and, State Bank Of Mysore well established franchise in Karnataka, which enables access to low cost CASA deposits (34% in March 2015). ICRA takes note of moderate advances growth of 5% in FY2015 and Gross NPAs of 4.0% as on March 2015.

The total stressed exposures (Gross NPAs + security receipts on sale of assets) stood at 5.1% as on March 2015. Further, the standard restructured advances continue to remain high, even though the level has moderated from 8.1% in FY14 to 6.9% in FY15 for State Bank Of Mysore.

The cushion available to absorb the stressed assets is low as State Bank Of Mysore Net NPA as % of Net worth† were high at 25.7% as on March 31, 2015 and its profitability moderate at 0.5% in FY2015. Any further improvement in profitability and solvency would be dependent on the ability of the bank to reduce stressed and restructured exposures and, increase its credit book.

State Bank of Mysore profile :

Type Public sector

Traded as BSE: 532200

NSE: MYSOREBANK

ISIN: INE651A01020

Industry Banking, Insurance, Capital Markets and allied industries

Predecessor The Bank of Mysore Ltd.

Founded 2 October 1913;

102 years ago as The Bank of Mysore Ltd.

Founder Sir M. Visvesvaraya

Headquarters Bengaluru

Number of locations 976 branches and 9 extension counters

Area served India

Key people Chairman: Arundhati Bhattacharya

Managing Director: N.K.Chari

Products Deposits, Personal Banking Schemes, C & I Banking Schemes, Agri
Banking Schemes, SME Banking Schemes

Services Loans, Deposits, Mobile Banking, ATM Services, NRI Services, Real
Time Gross Settlement (RTGS) Transactions, National Electronic Fund Transfer
(NEFT), Internet Banking, Debit Card

Total equity 3988 Crores as on 31 Mar 2014

Number of employees

10,627 (as on 30 Jun 2014)

3,588 supervisory staff

7,039 non-supervisory staff

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