SBI reports ₹3,955 cr profit in Q3 - NEWS SENTRY

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Friday, 1 February 2019

SBI reports ₹3,955 cr profit in Q3

State Bank of India reported a net profit of ₹3,955 crore in the third quarter ended December 31, 2018 against a net loss of ₹ 2,416 crore in the year ago quarter.

The bottomline was boosted by a 21 per cent year-on-year (yoy) jump in net interest income at ₹22,691 crore and 39 per cent y-o-y decline in total provisions at ₹8,670 crore.

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Non-interest income, however, saw a 0.61 per cent y-o-y dip at ₹8,035 crore.

Gross non-performing assets (GNPAs) during the reporting quarter declined by ₹18,099 crore to stand at ₹1,87,765 crore as at December-end 2018.

GNPAs improved from 10.35 per cent of gross advances as at December-end 2017 to 8.71 per cent as at December-end 2018.

Net NPAs improved from 5.61 per cent of gross advances as at December-end 2017 to 3.85 per cent as at December-end 2018.

Whole bank advances registered a growth of 12 per cent y-o-y to ₹21,55,316 crore as on December-end 2018. Within this, corporate advances grew by 21 per cent y-o-y; retail personal loans were up 18 per cent; and small and medium enterprise loans increased by 9.50 per cent.

Deposits at the whole bank level grew by 7 per cent y-o-y to ₹28,30,538 crore as on December 31, 2018.

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