new Delhi. The country's largest public sector bank State Bank of India (SBI) on Friday said that its profit in the January-March quarter of the financial year 2019-20 increased by four times to Rs 3580.81 crore. The bank had a profit of Rs 838.40 crore in the same quarter of the previous financial year.
In the information provided to the stock exchanges, the bank said that its operating income in the January-March 2020 quarter stood at Rs 76,027.51 crore as against Rs 75,670.50 crore in the corresponding quarter of the previous financial year.
The bank's interest income fell marginally to Rs 22,767 crore for the quarter under review, from Rs 22,954 crore in the year-ago quarter. The asset quality of the bank has also improved with the gross-NPA of the bank being 6.15 percent in the financial year 2019-20. The bank's gross-NPA stood at 6.94 percent in the quarter ended December 31. The total gross NPA of the bank is Rs 1,49,091.85 crore.
The bank's net NPA decreased from 2.65 percent to 2.23 percent. The bank has made a provision of Rs 11894 crore for NPA in the fourth quarter, while the bank had made a provision of Rs 8193 crore in the previous quarter.
This post was published on June 5, 2020 3:45 pm
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