NEW DELHI: State Bank of India (SBI) reported a benefit for the fourth quarter, when compared with a report loss a year ago, as the country's greatest lender benefited from better asset high quality and higher income from its retail banking business.
Net benefit got here in at Rs 838 crore ($120.04 million) for the 3 months ended March 31, when compared with the lack of Rs 7,718 crore reported last year that was brought about via a surge in dangerous loans, the Mumbai-based state-run lender mentioned.
Income (standalone) right through the March quarter of 2018-19 rose via nearly 11 consistent with cent to Rs 75,670.50 crore as against Rs 68,436.06 crore in the similar duration of the previous fiscal, the financial institution mentioned in a regulatory submitting.
Revenue from SBI's retail banking business grew 15.3% to Rs 33,662 crore. Gross dangerous loans as a proportion of total loans, a measure of asset high quality, eased 118 foundation points at quarter-end, in comparison to the former quarter.
For the overall year 2018-19, financial institution reported a consolidated net benefit of Rs 3,069.07 crore. While there was a lack of Rs four,187.41 crore in all of the 2017-18.
State Bank of India (SBI) witnessed growth in its asset high quality as gross NPAs diminished to 7.53 consistent with cent of gross advances at finish March 2019, as against 10.91 consistent with cent via finish of March 2018.
Net NPAs or dangerous loans too trimmed down to 3.01 consistent with cent as against five.73 consistent with cent.
Stock of SBI was buying and selling zero.74 consistent with cent down at Rs 297.05 on BSE in afternoon trade.
Net benefit got here in at Rs 838 crore ($120.04 million) for the 3 months ended March 31, when compared with the lack of Rs 7,718 crore reported last year that was brought about via a surge in dangerous loans, the Mumbai-based state-run lender mentioned.
Income (standalone) right through the March quarter of 2018-19 rose via nearly 11 consistent with cent to Rs 75,670.50 crore as against Rs 68,436.06 crore in the similar duration of the previous fiscal, the financial institution mentioned in a regulatory submitting.
Revenue from SBI's retail banking business grew 15.3% to Rs 33,662 crore. Gross dangerous loans as a proportion of total loans, a measure of asset high quality, eased 118 foundation points at quarter-end, in comparison to the former quarter.
For the overall year 2018-19, financial institution reported a consolidated net benefit of Rs 3,069.07 crore. While there was a lack of Rs four,187.41 crore in all of the 2017-18.
State Bank of India (SBI) witnessed growth in its asset high quality as gross NPAs diminished to 7.53 consistent with cent of gross advances at finish March 2019, as against 10.91 consistent with cent via finish of March 2018.
Net NPAs or dangerous loans too trimmed down to 3.01 consistent with cent as against five.73 consistent with cent.
Stock of SBI was buying and selling zero.74 consistent with cent down at Rs 297.05 on BSE in afternoon trade.
SBI reports net profit of Rs 838 crore in Q4
![SBI reports net profit of Rs 838 crore in Q4]()
Reviewed by Kailash
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May 10, 2019
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