SBI Q4 net up 46% at Rs 2,742 cr

The country's largest lender the State Bank of India today reported 45.62 per cent growth in net profit at Rs 2,742.31 crore for the quarter ended March 31, 2009.

The bank had a net profit of Rs 1,883.25 crore in the March quarter of the previous fiscal, SBI said in a filing to the Bombay Stock Exchange.

The bank has declared 290 per cent dividend at the rate of Rs 29 per share for the financial year 2008-09.

The total income of the bank during the quarter rose by 34.57 per cent to Rs 22,060.61 crore from Rs 16,393.93 crore in the corresponding period a year ago.

During the quarter ended March 31, 2009, interest income of the SBI grew by 28 per cent to Rs 17,342.39 crore from Rs 13,576.73 crore in the same quarter a year ago.

During the same period the operating profit of the bank rose by 21 per cent at Rs 5,277.05 crore against Rs 4,373.13 crore.

For fiscal 2008-09, the net profit of the bank increased by 36 per cent at Rs 9,121.2 crore compared to Rs 6,729.1 crore in the previous fiscal.Its total Income rose to Rs 76,479.2 crore in FY 2009 against Rs 57,645.2 crore a year ago, up by 33 per cent.

During the year, interest earning of the SBI stood at Rs 63,788.43 crore, up 30 per cent, from Rs 48,950.31 crore in he previous fiscal.     

However, on the consolidated basis, the SBI group posted a 22 per cent increase net profit after minority interest at Rs 10,955.2 crore for the year ended March 31, 2009 compared to Rs 8,960.6 crore a year ago.

During the year total income crossed trillion mark to Rs 1,13,093 crore, registering a growth of 25 per cent against Rs 90,218.8 crore for the year ended March 31, 2008.

SBI merged its smallest subsidiary State Bank of Saurashtra during the year.