SBI Q4 net profit jumps 80% YoY to Rs 6,451 crore on lower provisioning

During the quarter under review, the Mumbai-based lender's provisions and contingency fund dropped 18.11 per cent year-on-year (YoY) to Rs 11,051 crore

India’s largest public sector bank State Bank of India (SBI) on Friday reported a standalone net profit of Rs 6,450.75 crore for quarter ended March 2021 (Q4FY21) aided by fewer provisions on bad loans. The lender’s PAT was 80.14 per cent higher than previous year’s profit of Rs 3,580.8 crore. On a quarterly basis, the bottom line expanded 24.14 per cent.

SBI declared a dividend of Rs 4 per equity share for the financial year ended March 31, 2021. The date of payment of dividend is fixed on June 18, 2021.

During the quarter under review, the Mumbai-based