SBI Q3 revenue drops 7% to Rs5,196 crore


New Delhi, February 4

Country’s largest lender State Bank of India (SBI) on Thursday posted nearly 7% fall in its standalone net profit at Rs 5,196.22 crore for the third quarter ended December.

The bank had posted net profit of Rs 5,583.36 crore in the October-December period of the previous fiscal.

Total income (standalone) also fell marginally to Rs 75,980.65 crore during Q3FY21, as against Rs 76,797.91 crore in the same period of 2019-20, SBI said in a regulatory filing.

Asset quality improves notably

  • The bank’s asset quality improved substantially as the gross NPAs fell to 4.77% of the gross advances as of December 31, 2020 from 6.94% in the corresponding period previous year

  • In value terms, the gross NPAs stood at Rs1,17,244 crore, as against Rs1,59,661.19 crore


  • Likewise, the net NPAs were down 1.23% at Rs29,031.72 crore, as against 2.65% (at Rs58,248.61 crore)

On a consolidated basis, the bank posted a 5.8% fall in net profit at Rs 6,402.16 crore during the quarter under review, as against Rs 6,797.25 crore in the year-ago period.

The bank’s asset quality improved substantially as the gross non-performing assets fell to 4.77% of the gross advances as of December 31, 2020 from 6.94% in the corresponding period a year ago.

Provisions for bad loans and contingencies for the quarter spiked to Rs 10,342.39 crore, from Rs 7,252.90 crore a year earlier.

The shares of SBI were trading 2.02 per cent up at Rs 342.65 apiece on the BSE. — PTI 



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