Net NPA, or non-performing loans, also decreased to 1.02% as of March 31, 2022, from 1.50% in the same period last year.
Net NPA, or non-performing loans, also decreased to 1.02% as of March 31, 2022, from 1.50% in the same period last year.
The country’s largest lender, SBI, on Friday reported a 41% rise in standalone net profit to £9,114 billion for the fourth quarter ended March 2022, helped by a fall in non-performing loans.
The State Bank of India (SBI) had posted a profit of £6,451bn in January-March 2020-21, the lender said in a regulatory filing.
The bank’s total revenues increased slightly to ₹82,613 billion for the March quarter from 81,327 crore for the same period last fiscal year.
On a consolidated basis, the bank reported a 56% increase in net profit to £9,549 billion compared to £6,126 billion in the fourth quarter of the previous financial year.
In terms of asset quality, the bank’s non-performing assets (NPAs) decreased to 3.97% of gross loans as of March 31, 2022, down from 4.98% in the same period of 2021.
Net NPA, or non-performing loans, also decreased to 1.02% as of March 31, 2022, from 1.50% in the same period last year.
For the full 2021-22 financial year, the bank reported a 55% increase in standalone profit to £31,676 billion, up from £20,410 billion in the previous financial year.
The Board has recommended a dividend of ₹7.10 per share or 710% of par for the year ended March 31, 2022.
SBI shares were trading at ₹467.85 per unit shortly after the earnings release, up 1.17% versus BSE.
