new Delhi: Despite the Coronavirus epidemic and the lockdown in the entire country, the country’s largest State Bank of India has made tremendous profits. The SBI quarterly results released today are shocking. The bank has done well. State Bank of India (SBI) ‘s single net profit for the first quarter (April-June) of the current financial year rose by 81 percent to Rs 4,189.34 crore. The bank’s profit has increased due to the decrease in bad loans. In the same quarter of the previous financial year, the bank earned a net profit of Rs 2,312.02 crore.
In a communication sent to the stock exchanges, the country’s largest bank said that its single total income rose to Rs 74,457.86 crore during the quarter, from Rs 70,653.23 crore in the same quarter of the previous financial year.
The gross non-performing assets (NPAs) of the bank declined to 5.44 per cent during the quarter, from 7.53 per cent in the same period last fiscal. Similarly, the net NPA of the bank came down to 1.8 percent from 3.07 percent a year ago.
SBI’s net profit rose 62 per cent to Rs 4,776.50 crore during the quarter on an integrated basis, from Rs 2,950.50 crore in the same quarter of the previous fiscal.
The consolidated total income of the bank rose to Rs 87,984.33 crore during the quarter, from Rs 83,274.04 crore in the same quarter of the previous financial year.