Tag: sbibank

State Bank of India (SBI) — the country's largest lender by assets — on Friday reported a 68.5 per cent jump in net profit to a record Rs 14,205.3 crore for the quarter ended December 2022 as against a net profit of Rs 8,432 crore in December 2021. On a quarter-on-quarter basis, the profit rose 7 percent from the PAT of Rs 13,265 crore reported in the September quarter of this financial year. whereas Net Interest Income (NII) jumped 24 percent on the year to Rs 38,068.8 crore. Earlier, Bloomberg had pegged NII for the Oct-Dec quarter at Rs 46,946 crore, and net profit at Rs 13,196 crore. The gross non-performing asset (NPA) ratio fell 136 bps YoY to 3.52 percent for the quarter, while net NPA was 57 bps down to 0.77 percent. Read more

Shares of India’s largest public sector bank State Bank of India gained 5 percent after the bank on Friday reported an 80 per cent surge in standalone net profit of Rs 6,450.75 crore for quarter ended March 2021 (Q4FY21) aided by fewer provisions on bad loans. State Bank of India (SBI) had registered a profit of Rs 3,580.81 crore during January-March period of 2019-20, the lender said in a regulatory filing.The jump in profit was supported by net interest income and other income, while the low base in the year-ago quarter added to the jump.Total income of the bank during the March quarter of the last financial year rose to Rs 81,326.96 crore, from Rs 76,027.51 crore. The domestic net interest margin expanded 17 bps year-on-year to 3.11 percent in Q4FY21 but fell 23 bps sequentially. With regard to asset quality, gross non-performing assets (NPAs) of the bank improved at 4.98 per cent of gross advances as on March 31, 2021, as against 6.15 per cent by the same period of 2020. Read more