The country’s largest lender SBI on Friday reported over four-fold jump in standalone net profit at ₹3,580.81 crore for March quarter 2019-20.
State Bank of India (SBI) had registered a profit of ₹838.4 crore during January-March period of 2018-19, the lender said in a regulatory filing.
Income of the bank during March quarter of the last financial year rose to ₹76,027.51 crore from ₹ 75,670.5 crore in the same period of 2018-19, SBI said.
On the asset front, gross non performing assets (NPAs) of the bank improved at 6.15% of gross advances as on March 31, 2020 as against 7.53% by the same period of 2019.
Net NPA or bad loans stood at 2.23% as on March 31, 2020 as compared to 3.01% by the year-ago same period.
SBI stock was trading at ₹178.70 on the BSE, up 2.67% from the previous close.