SBI Q3 Results: The country's largest public sector bank SBI has released the December quarter results. In the exchange filing, the bank said that the net profit stood at Rs 14,205 crore. Apart from this, the interest income ie NII also stood at Rs 38,068.62 crore.
SBI Q3 Results:
The country's largest public sector bank SBI has released the December quarter results. In the exchange filing, the bank said that its profit has increased by 68%.
Which was Rs 14205 crore during the October to December quarter. Whereas in the same quarter a year ago, the bank's profit stood at Rs 13,360 crore. Apart from this, the interest income ie NII also stood at Rs 38,068.62 crore.
17% decline in provision
In the information given to the stock market, SBI said that its provision has decreased by 17%. It stood at Rs 5,760 crore in the December quarter, which was Rs 6,974 crore in the year-ago quarter. SBI's stock closed at Rs 544.45 on BSE with a strength of 3%.
Decline in NPA
SBI's domestic NIM increased by 29 basis points to 3.69%. The gross NPA ratio of the bank also decreased to 3.14% in the December quarter, which was 3.52% in the previous quarter. Talking about Net NPA, it stood at 0.77% in the December quarter, which was 0.80% in the previous quarter.
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The Capital Adequacy Ratio stood at 13.27% during the December quarter. According to the exchange filing, credit growth stood at 17.60% on an annual basis. Also, domestic advances increased by 17%. The increase in advances was mainly due to retail personal and corporate advances.