The country’s largest bank SBI on Friday posted an 81 % spike in standalone net profit at ₹ 4,189.34 crore for the first quarter of current fiscal as bad loans declined.
The lender had reported a net profit of ₹ 2,312.02 crore in the April-June quarter of 2019-20.
Also Read | SBI registers ₹14,448 cr. net profit, says DGM
State Bank of India’s (SBI) standalone total income increased to ₹ 74,457.86 crore in the first quarter of 2020-21 as against ₹ 70,653.23 crore in the same period a year ago, as per the financial results posted by the bank on stock exchanges.
Its gross non-performing assets (NPA) of the total advances declined to 5.44 % at June-end, over 7.53 % at June-end last year.
Similarly, net NPAs also declined to 1.8 % in June 2020 against 3.07 % a year ago.
On a consolidated basis, SBI’s net profit rose by 62 % to ₹ 4,776.50 crore as against ₹ 2,950.50 crore in the same quarter a year ago.
At the same time, total income increased ₹ 87.984.33 crore as compared to ₹ 83,274.04 crore in the first quarter of the previous fiscal.
You have reached your limit for free articles this month.
To get full access, please subscribe.
Already have an account ? Sign in
Show Less Plan
Subscription Benefits Include
Today's Paper
Find mobile-friendly version of articles from the day's newspaper in one easy-to-read list.
Faster pages
Move smoothly between articles as our pages load instantly.
Unlimited Access
Enjoy reading as many articles as you wish without any limitations.
Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.
Personalised recommendations
A select list of articles that match your interests and tastes.
Briefing
We brief you on the latest and most important developments, three times a day.
*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.
A letter from the Editor
Dear subscriber,
Thank you!
Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.
The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.
We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.
Suresh Nambath
