Public sector lender, State Bank of Hyderabad has posted 13% rise in net profits amounting to Rs 250 crore for the third quarter of the current fiscal. The profit figures stood at Rs 221 crore for the same period last fiscal.

According to Ms Renu Challu, Managing Director, SBH, the rise can be attributed to increase in net interest income, other income and exchanges and others too.

"Our 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," she said.

The bank currently has 1264 branches across the country and plans to raise the number by another 150 this year in the upcoming few months.

"We are also in the process of recruiting 2,000 clerks and 1,104 officers," Ms Challu said.