The country’s largest lender SBI on Friday reported over four-fold jump in standalone net profit at Rs 3,580.81 crore for March quarter 2019-20.
State Bank of India (SBI) had registered a profit of Rs 838.4 crore during January-March period of 2018-19, the lender said in a regulatory filing.
Income of the bank during March quarter of the last financial year rose to Rs 76,027.51 crore from Rs 75,670.5 crore in the same period of 2018-19, SBI said.
On the asset front, gross non-performing assets (NPAs) of the bank improved at 6.15 per cent of gross advances as on March 31, 2020 as against 7.53 per cent by the same period of 2019.
Net NPA or bad loans stood at 2.23 per cent as on March 31, 2020 as compared to 3.01 per cent by the year-ago same period.
SBI stock was trading at Rs 178.70 on the BSE, up 2.67 per cent from the previous close.
Source: News18