SBI Q4 net profit jumps four-fold to ₹3\,581 crore

Money & Banking

SBI Q4 net profit jumps four-fold to ₹3,581 crore

Our Burea Mumbai | Updated on June 05, 2020 Published on June 05, 2020

State Bank of India (SBI) reported a huge jump in fourth quarter standalone net profit at ₹3,581 crore against ₹838 crore in the year ago quarter.

A 31 per cent decline in loan loss provisions at ₹11,894 crore against ₹17,336 crore in the year-ago period supported the bottomline

Net interest income (difference between interest earned and interest expended) dipped marginally by 0.81 per cent to ₹22,767 crore against ₹22,954 crore in the year ago period.

Non Interest Income, including fee income, profit/loss on sale of investments, forex income and miscellaneous income) increased by 5 per cent to ₹13,346 crore (₹12,685 crore).

Domestic net interest margin (NII/ total interest earning assets) declined to 2.94 per cent in the reporting quarter against 3.02 per cent.

Gross non-performing assets (NPAs) declined to 6.15 per cent against 7.53 per cent. Net NPAs declined to 2.23 per cent of net advances against 3.01 per cent.

Slippages during the quarter were lower at ₹8,105 crore against ₹16,525 crore in the preceding quarter.

Published on June 05, 2020

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