SBI net income in Q1 surged 55% to RS 6,504 Crore

New Delhi: The largest SBI Bank in the country on Wednesday posted a 55 percent increase in independent net profit at Rs 6,504 Crore for the first quarter of the current financial year, assisted by a bad loan decline.
Lenders have reported Rs 4,189.34 Crore’s net profit in the April-June 2020-21 quarter.
The total revenue of Standalone Bank of Nate Bank of India (SBI) increased to Rs 77,347.17 Crore in the first quarter of 2021-22 as against RS 74,457.86 Crore in the same period last year, according to regulations.
Non-performance assets of gross bank (NPA) of total progress fell to 5.32 percent at the end of June from 5.44 percent at the end of June last year.
Likewise, net NPA also declined to 1.7 percent in June 2020 against 1.8 percent a year ago.
Consolidated, SBI’s net profit also rose 55 percent to Rs 7,379.91 Crore by opposing Rs 4,776.50 Crore in the same quarter last year.
At the same time, total income increased to Rs 93,266.94 Crore compared to Rs 87,984.33 Crore in the first fiscal first quarter.