SBI Q3 FY21 net profit down 7% YoY

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Mumbai, Feb 4 | Lending major State Bank of India (SBI) on Thursday reported a decline of 6.93 per cent in net profit for the third quarter of 2020-21 on a year-on-year basis.

Accordingly, the bank’s net profit fell to Rs 4,574 crore from Rs 5,196 crore recorded during the corresponding period of the previous fiscal.

“Excluding the one-off interest income and other income during Q3 of FY20, the YoY growth in Net Profit and Operating Profit for Q3 of FY21 will be 133.78 per cent and 26.23 per cent respectively,” the bank said in a statement.

Besides, the Net Interest Income for Q3 of FY21 increased by 3.75 per cent YoY to Rs 28,820 crore from Rs 27,779 crore reported for Q3 of FY20.

The bank’s net NPA ratio at 1.23 per cent was down 142 bps YoY and 36 bps QoQ.

“Gross NPA ratio at 4.77 per cent is down 217 bps YoY and 51 bps QoQ.”

Source: IANS

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