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Rs 8,432 cr revenue in Q3: SBI posts document quarterly determine

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State Bank of India (SBI) on Saturday posted a 62.27 per cent year-on-year rise in its internet revenue at Rs 8,432 crore for the quarter ended December 2021, in opposition to a Rs 5,196 crore within the year-ago interval. This is the very best quarterly internet revenue reported by the financial institution.
The state-run lender’s internet curiosity earnings for Q3FY22 rose 6.48 per cent to Rs 30,687 crore, in opposition to Rs 28819.9 crore within the corresponding quarter of final 12 months.

SBI’s gross non-performing asset (NPA) ratio within the quarter stood at 4.50 per cent (Rs 1,20,029 crore) in opposition to 4.77 per cent (Rs 1,33,705 crore) within the year-ago interval. Net NPA ratio was recorded at 1.34 per cent versus 1.23 per cent final 12 months.
The financial institution reported internet curiosity margin at 3.15 per cent for Q3 as in opposition to 3.12 per cent a 12 months in the past, it stated. Total earnings additionally rose to Rs 78,352 crore in the course of the quarter below evaluate as in opposition to Rs 75,981 crore in the identical interval of 2020-21, it stated. The firm’s whole deposits grew 8.83 per cent year-on-year to Rs 38,47,794 within the quarter.

SBI Chairperson Dinesh Kumar Khara stated the lender recorded a credit score progress of Rs 1.3 lakh crore with good efficiency throughout segments.
BoB revenue doubles in Q3
Bank of Baroda’s (BoB) internet revenue in Q3FY22 rose to Rs 2,197 crore, in opposition to Rs 1,061 crore within the year-ago quarter, a 107 per cent progress. Gross NPAs fell to Rs 55,997 crore from Rs 63,182 crore in Q3FY21. (ENS)