Report Wire - SBI This fall revenue jumps 41% to Rs 9,114 crore on fall in dangerous loans

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SBI This fall revenue jumps 41% to Rs 9,114 crore on fall in dangerous loans

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SBI Q4 profit jumps 41% to Rs 9,114 crore on fall in bad loans

The nation’s largest lender SBI on Friday reported a 41 per cent surge in standalone internet revenue at Rs 9,114 crore for the fourth quarter ended March 2022, helped by decline in dangerous loans.

State Bank of India (SBI) had registered a revenue of Rs 6,451 crore throughout January-March interval of 2020-21, the lender stated in a regulatory submitting.

Total revenue of the financial institution through the March quarter elevated marginally to Rs 82,613 crore, from Rs 81,327 crore in the identical interval of the earlier fiscal.

On a consolidated foundation, the financial institution reported a 56 per cent enhance in internet revenue at Rs 9,549 crore, in comparison with Rs 6,126 crore within the fourth quarter of the earlier fiscal.

With regard to asset high quality, gross non-performing property (NPAs) of the financial institution declined to three.97 per cent of gross advances as on March 31, 2022, as towards 4.98 per cent by the identical interval of 2021.

Net NPA or dangerous loans too got here all the way down to 1.02 per cent as on March 31, 2022 from 1.50 per cent within the year-ago interval.

For the whole monetary 12 months 2021-22, the financial institution reported a 55 per cent rise in standalone revenue at Rs 31,676 crore, from Rs 20,410 crore within the earlier monetary 12 months.

The board has beneficial a dividend of Rs 7.10 per share or 710 per cent on the face worth for the monetary 12 months ended March 31, 2022.

Shares of SBI have been buying and selling at Rs 467.85 per unit, up 1.17 per cent on BSE, shortly after the quarterly numbers have been introduced.