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The State Bank of India (SBI) had recorded a profit of Rs 6,451 crore in the January-March 2020-21 period, the country’s biggest lender said in a regulatory filing.

SBI’s total revenue in the March quarter increased slightly to Rs 82,613 crore from Rs 81,327 crore in the same period of the prior year.

STRONG POINTS

  • SBI revenue rose to Rs 82,613 crore
  • NPA or bad debt fell to 1.02%
  • SBI shares were trading high

The State Bank of India (SBI) on Friday announced a 41% increase in its autonomous net profit to Rs 9,114 crore for the fourth quarter ended March 2022, helped by lower bad debts.

The country’s biggest lender had recorded a profit of Rs 6,451 crore in the January-March 2020-21 period, the lender said in a regulatory filing.

The bank’s total income in the March quarter edged up to Rs 82,613 crore from Rs 81,327 crore in the same period of the previous fiscal year, according to a PTI report.

On a consolidated basis, the bank recorded a 56% increase in its net profit to Rs 9,549 crore from Rs 6,126 crore in the fourth quarter of the previous fiscal year.

In terms of asset quality, the bank’s gross non-performing assets (NPA) declined to 3.97% of gross advances as of March 31, 2022, from 4.98% in the same period of 2021.

Net NPA or bad debt also fell to 1.02% as of March 31, 2022, from 1.50% a year ago.

For the full financial year 2021-2022, the bank recorded a 55% increase in its autonomous profit to Rs 31,676 crore from Rs 20,410 crore in the previous financial year.

The Board of Directors has recommended a dividend of Rs 7.10 per share or 710% on par value for the year ended 31 March 2022.

Shares of SBI were trading at 467.85 rupees per unit, up 1.17% on BSE, shortly after the quarterly figures were announced.

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