SBI reports loss at Rs 4,876 crore in Q1

0 1,010

Mumbai : India’s largest lender SBI has reported a net loss of Rs. 4,876 Cr during the first Quarter of the current fiscal.Bank’s net loss is largely attributable to lower trading Income and significant MTM losses due to hardening of bond yields andhigher provision on account of Wage Revision and enhancement in Gratuity ceiling. Bank has not availed the benefit of RBI dispensation with regard to amortization of MTM loss.  Operating Profit increased by 0.83% from Rs. 11,874 Cr in Q1FY18 to Rs. 11,973 Cr in Q1FY19. Net Interest Income increased by 23.81% from Rs. 17,606 Cr in Q1FY18 to Rs. 21,798 Cr in Q1FY19.

Gross NPAs declined from Rs. 2,23,427 Cr as on Mar 18 to Rs. 2,12,840 Cr as on June 18, whereas Net NPA declined from Rs. 1,10,855 Cr to Rs. 99,236 Cr during the same period

Deposits of the Bank increased by 5.58% from Rs.26,02,534 Cr as on June 17 to Rs.27,47,813 Cr as on June 18. Domestic Advances registered a growth of 7.21% from Rs. 16,07,583 Cr as on June 17 to Rs. 17,23,443 Cr as on June 18, while Gross Advances at the Whole Bank level registered a growth of 5.49% from Rs.18,86,666 Cr as on June 17 to Rs.19,90,172 Cr as on June 18.

Leave A Reply

Your email address will not be published.