SBI rebounds 6% from day's low on improved asset quality in March quarter

SBI has reported net profit of Rs 838 crore for Q4FY19 on the back of higher provisions

State Bank of India (SBI) shares rose 4 per cent to Rs 311, bouncing back 6 per cent from day's low of Rs 292 in intra-day trade on the BSE, after the bank reported improvement in assets quality in last quarter of financial year 2018-19 (Q4FY19).

The bank’s gross non-performing assets (NPAs) ratio declined to 7.53 per cent against 8.71 per cent in the previous quarter and 10.91 per cent in the corresponding quarter of the previous fiscal. Net NPAs during the period came in at 3.01 per cent against 3.95 per cent in the previous quarter and 5.73