Hyderabad: State Bank of Hyderabad (SBH) has declared the results for its first quarter. The public sector lender, State Bank of Hyderabad has registered a growth of 18.98 per cent in its net earnings, which stood at Rs 93.27 crore in the first three months of the existing fiscal as against Rs 78.32 crore for the corresponding period during last fiscal.

Amitabha Guha, Managing Director, SBH told reporters that the bank’s performance in all segments is robust and it plans to instigate insurance product shortly.

He stated the bank business has crossed Rs 73,500 crore mark and it is likely to touch Rs one lakh crore by next March.

When asked about the amalgamation of the banking institution with its parent bank SBI, Guha stated it was imminent given the present scenario in banking business that the SBI subsidiaries may coalesce in the coming time.