New Delhi: The country’s largest lender bank in the country (SBI) on Saturday posted 62 percent of the independent net profit surges at Rs 8,432 Crore for the third quarter which ended on December 31, 2021.
The bank had received RS 5,196 Crore’s net profit in the year period Then, “The bank has registered the highest quarterly net profit of Rs 8,432 Crore at Q3FY22.
This is an increase of 62.27 percent YoY,” SBI said in the submission of regulations.
Total income also rose to Rs 78,352 Crore during the quarter reviewed against Rs 75,981 Crore in the same period in 2020-21, he said.
Consolidated, the SBI group recorded an increase in 51 percent net profit at Rs 9,692 Crore during the quarter against Rs 6,402 Crore in the last year period.
The quality of bank assets increased because the gross non-performing assets fell to 4.5 percent of gross progress as of December 31, 2021 from 4.77 percent in the same year the same period.
However, NPA net rose slightly to 1.34 percent from 1.23 percent at the end of the third quarter 2020-21.
In addition to the tax and contingencies for the quarter it dropped to RS 6,974 Crore from Rs 10,342 Crore a year earlier.
The coverage provision ratio (PCR) at the end of the third quarter of this fiscal year reached 88.32 percent, he said.
“The capital adequacy ratio (car) at the end of Q3FY22 stood 13.23 percent without nine months profit for FY22.
If we put a three-quarter profit, the car will increase by 94 basis points,” he said.
SBI Q3 Net Profit Soars 62% to RS 8,432 Crore
