SBI Q3 net profit falls 7% to ₹5,196 crore

4 Feb 2021

SBI Q3 net profit falls 7% to ₹5,196 crore

Country's largest lender State Bank of India (SBI) posted nearly 7 per cent fall in its standalone net profit at ₹5,196.22 crore for the third quarter ended December. The bank had posted net profit of ₹5,583.36 crore in the October-December period of the previous fiscal. Total income (standalone) also fell marginally to ₹75,980.65 crore during Q3FY21, as against ₹76,797.91 crore in the same period of 2019-20, SBI said in a regulatory filing. On a consolidated basis, the bank posted a 5.8 fall in net profit at ₹6,402.16 crore during the quarter under review, as against ₹6,797.25 crore in the year-ago period. The bank's asset quality improved substantially as the gross non-performing assets fell to 4.77 per cent of the gross advances as of December 31, 2020 from 6.94 per cent in the corresponding period a year ago.
In value terms, the gross NPAs or bad loans stood at ₹1,17,244.23 crore, as against ₹1,59,661.19 crore. The shares of SBI were trading 2.02 per cent up at ₹342.65 apiece on BSE.