SBI Q2 Profit Rises 9.13% to Rs 16,099 Crore
Nov 04, 2023 14:12
SBI reported a 9.13% increase in consolidated net profit for the September quarter, reaching Rs 16,099.58 crore, driven by improved asset quality and strong growth in total income.
Mumbai, Nov 4 (PTI) The country's largest lender SBI on Saturday reported a 9.13 per cent growth in consolidated net profit for the September quarter to Rs 16,099.58 crore.
The state-run lender had reported a consolidated net profit of Rs 14,752 crore in the year-ago period and Rs 18,356 crore in the June quarter.
On a standalone basis, it posted a net profit of Rs 14,330.02 crore as against Rs 13,264.52 crore in the year-ago period.
The bank, which controls over a fifth of the overall market and has the widest network in the country, reported a total income of over Rs 1.12 lakh crore for the quarter under review, up from Rs 88,733 crore in the year-ago period.
From an asset quality perspective, its gross non-performing assets ratio was at 2.55 per cent as of September 30, an improvement from the 3.52 per cent in the year-ago period and the 2.76 per cent in the first quarter of the current fiscal.
Its overall capital adequacy stood at 14.28 per cent as of September 30.
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