SBI, the largest lender in the country, has reported a significant growth in consolidated net profit for the September quarter. The state-run bank recorded a 9.13% increase in net profit to Rs 16,099.58 crore, compared to Rs 14,752 crore in the same period last year. However, the bank’s net profit for the June quarter was higher at Rs 18,356 crore.
On a standalone basis, SBI’s net profit for the September quarter was Rs 14,330.02 crore, up from Rs 13,264.52 crore in the previous year. The bank’s total income for the quarter also showed a positive trend, with a figure of over Rs 1.12 lakh crore, compared to Rs 88,733 crore in the year-ago period.
SBI’s gross non-performing assets ratio improved to 2.55% as of September 30, a decrease from 3.52% in the same period last year, and 2.76% in the previous quarter. The bank’s overall capital adequacy ratio stood at 14.28% as of September 30.
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