SBI Q3 results: Profit jumps 41% to Rs 5,583 crore; asset quality shows big improvement
Synopsis
Percentage of net NPAs stood at 2.65 per cent compared with 3.95 per cent last year.
Asset quality of the country’s largest lender by assets improved with gross non-performing assets falling to 6.94 per cent in the December quarter against 8.71 per cent in the corresponding period last year. The figure stood at 7.19 per cent in the sequential quarter.
Percentage of net NPAs stood at 2.65 per cent compared with 3.95 per cent last year.
Net interest income (NII) increased 22.42 per cent to Rs 27,778.79 crore during the quarter under review.
Stocks Recommendations
Operating profit jumped 44.34 per cent to Rs 18,223 crore.
Shares of the lender jumped over 2 per cent and closed at Rs 318.55 after the announcement of quarterly numbers.