SBI Q1 net profit up 55% to Rs.6504 crore

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Mumbai: State Bank of India, India’s largest lender has reported 55 percent Year on Year (YoY) growth in net profit at Rs. 6504 crore in the April-June quarter (Q1).

Bank’s operating profit during the quarter grew by 14.85 percent (YoY) to 18,975 crore. Net interest income grew by 24 percent to Rs. 11,803 crore.

The bank’s total deposit grew by 8.82 percent, while the domestic credit growth stood at Rs. 5.64 percent. Home loan, which constitutes 23% of Bank’s domestic advances, has grown by 10.98% YoY. Net NPA ratio at 1.77% is down 9 bps YoY. Gross NPA ratio at 5.32% is down 12 bps YoY. SBI’s Capital Adequacy Ratio (CAR) has improved by 26 bps YoY to 13.66% as on Jun 2021 – without including Q1FY22 Profit.

 

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