State Bank of India(SBI) reports Q4 profit of Rs 838 crore

State Bank of India(SBI) reports Q4 profit of Rs 838 crore

The State Bank of India registered a Net Profit of Rs. 838 Cr during Q4 FY 2019 as against Net
Loss of Rs. 7,718 Cr in the corresponding period last year.

Its operating profit was up 6 percent at Rs 16,933 crore versus Rs 15,883 crore, YoY.

Net Interest Income grew by 14.92% YoY in Q4 FY 2019
to Rs 22,954 crore versus Rs 19,974 crore. attributable mainly to
growth in Domestic Credit, Improved Spreads and Lower Slippages.
As a
result, the Domestic Net Interest Margins increased to 3.02% in Q4 FY 2019.

The company’s gross NPA was down at 7.53 percent against 8.71 percent, while net NPA was down at 3.01 percent versus 3.95 percent, QoQ.

The gross NPA was down to Rs 1.72 lakh crore from Rs 1.88 lakh crore, while net NPA was at Rs 65,895 crore against Rs 80,944 crore, QoQ.

The bank has made a provision of Rs 3,984 crore (Total Rs 5,643.41 crore) for the year ended March 31, 2019 . Its total non-performing assets stood at Rs. 1,72,750 crore at the end of March quarter compared with Rs. 1,87,764 crore at the end of December quarter. the SBI stock was up by 2.54 at the end of the market quoting at
306.90 .

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