SBI Q3 Results: State Bank of India’s standalone web falls 7% to Rs 5,196 crore as provisions soar

Image Source : PTI SBI Q3 Results: State Bank of India’s standalone web falls 7% to Rs 5,196 crore as provisions soar
Country’s largest lender State Bank of India (SBI) on Thursday posted almost 7 per cent fall in its standalone web revenue at Rs 5,196.22 crore for the third quarter ended December. The financial institution had posted web revenue of Rs 5,583.36 crore within the October-December interval of the earlier fiscal.

Total revenue (standalone) additionally fell marginally to Rs 75,980.65 crore throughout Q3FY21, as in opposition to Rs 76,797.91 crore in the identical interval of 2019-20, SBI stated in a regulatory submitting.

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On a consolidated foundation, the financial institution posted a 5.8 fall in web revenue at Rs 6,402.16 crore throughout the quarter underneath overview, as in opposition to Rs 6,797.25 crore within the year-ago interval.

The financial institution’s asset high quality improved considerably because the gross non-performing belongings fell to 4.77 per cent of the gross advances as of December 31, 2020 from 6.94 per cent within the corresponding interval a 12 months in the past.

In worth phrases, the gross NPAs or dangerous loans stood at Rs 1,17,244.23 crore, as in opposition to Rs 1,59,661.19 crore. Likewise, the online NPAs have been down 1.23 per cent at Rs 29,031.72 crore, as in opposition to 2.65 per cent (at Rs 58,248.61 crore).

Provisions for dangerous loans and contingencies for the quarter spiked to Rs 10,342.39 crore, from Rs 7,252.90 crore a 12 months earlier. The shares of SBI have been buying and selling 2.02 per cent up at Rs 342.65 apiece on BSE.

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