SBI Q4 profit jumps 41 pc to Rs 9,114 cr on fall in bad loans

The nation’s largest lender SBI on Friday reported a 41 per cent bounce in standalone web revenue at Rs 9,114 crore for the fourth quarter ended March 2022, helped by decline in unhealthy loans.

State Financial institution of India (SBI) had registered a revenue of Rs 6,451 crore throughout January-March interval of 2020-21, the lender mentioned in a regulatory submitting.

Whole earnings of the financial institution in the course of the March quarter elevated marginally to Rs 82,613 crore, from Rs 81,327 crore within the year-ago interval.

In the course of the quarter beneath assessment, web curiosity earnings rose 15 per cent to Rs 31,198 crore, from Rs 27,067 crore in the identical interval a 12 months in the past.

On a consolidated foundation, the financial institution reported a 56 per cent enhance in web revenue at Rs 9,549 crore, in comparison with Rs 6,126 crore within the fourth quarter of monetary 12 months 2020-2021.

With regard to asset high quality, gross non-performing belongings (NPAs) of the financial institution declined to three.97 per cent of gross advances as on March 31, 2022, as towards 4.98 per cent by the identical interval of 2021.

It additional mentioned that in absolute phrases, gross NPAs declined to Rs 1,12,023 crore in March 2022, from Rs 1,26,389 crore in the identical interval final 12 months.

Web NPA or unhealthy loans too got here all the way down to 1.02 per cent as on March 31, 2022 from 1.50 per cent within the year-ago interval. The web NPA in absolute phrases eased to Rs 27,966 crore, from Rs 36,810 crore in March 2021.

In consequence, the availability for unhealthy loans declined to Rs 3,262 crore, as in comparison with Rs 9,914 crore within the fourth quarter of monetary 12 months 2020-2021.

For your complete monetary 12 months 2021-22, the financial institution reported a 55 per cent rise in standalone revenue at Rs 31,676 crore, from Rs 20,410 crore within the monetary 12 months 2020-2021.

The board has really helpful a dividend of Rs 7.10 per share or 710 per cent on the face worth for the monetary 12 months ended March 31, 2022.

The date of cost of dividend is mounted on June 18, 2021 and the dividend warrants can be dispatched earlier than the date of cost, which can be payable at par in any respect branches of State Financial institution of India, regardless of the quantity, it mentioned.

In the course of the 12 months, the web curiosity margin (NIM) or the unfold improved to three.40 per cent from 3.11 per cent within the earlier fiscal.

Capital Adequacy Ratio (CAR) improved to 13.83 per cent as on March 2022, as towards 13.74 per cent within the earlier fiscal.

Shares of SBI closed at Rs 445.05 per unit, down 3.76 per cent on BSE.

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