State Bank of India Q2 net profit up 30% at Rs 3,658 crore

State Bank of India (SBI) Q2 net profit up 30% at Rs 3,658 crore.

State Bank of India (SBI), the largest public sector bank of the country, today posted a 30.16 per cent jump in net profit at Rs 3,658.14 crore (Rs 36.58 billion) during the second quarter of current financial year.

The bank had registered a net profit of Rs 2,810.43 crore (Rs 28.10 billion) in the corresponding July-September period of last year.

The bank, however, showed signs of stress on asset quality as the gross non-performing assets ratio jumped to 5.15 per cent from the year-ago period of 4.19 per cent.

The gross non-performing assets (NPA) stood at Rs 49,202.46 crore, State Bank of India said in a filing to the BSE.

The bank’s core net interest income rose 4.69 per cent to Rs 10,974 crore (Rs 109.74 billion) during the reporting quarter, while the total income rose to Rs 32,953.47 crore (Rs 329.53 billion) from Rs 29,394.32 crore (Rs 293.94 billion) in the year-ago period, the statement said.

Its net interest margin during the quarter stood almost flat at 3.77 per cent for domestic operations, it said in a press statement.

The total capital adequacy of the bank stood at 12.63 per cent with the core tier-I at 8.97 per cent.

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