SBI Q2 rises 30% to Rs 3,658 cr, bad loans increase
This is the smallest increase this year
State Bank of India today posted a 30.16% jump in net profit at Rs 3,658.14 crore during the second quarter of current fiscal.
The bank had registered a net profit of Rs 2,810.43 crore 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% from the year-ago period of 4.19%.
In absolute terms, the gross non-performing assets stood at Rs 49,202.46 crore, SBI said in a filing to the BSE.
The bank's core net interest income rose 4.69% to Rs 10,974 crore during the reporting quarter, while the total income rose to Rs 32,953.47 crore from Rs 29,394,32 crore in the year-ago period, the statement said.
Its net interest margin during the quarter stood almost flat at 3.77% for domestic operations, it said in a press statement.
SBI's total capital adequacy stood at 12.63% with the core tier-I at 8.97%.
The bank scrip was trading 3.90 per cent down at Rs 2,156 apiece on the BSE at 13:15 hours, with the broader Sensex being 0.76% down.