Team News Riveting
Mumbai, November 2
State Bank of India (SBI) today reported standalone net profit of Rs 7,626 crore in the second quarter of the financial year 2021-22 (Q2FY22), which is the highest ever for the country’s largest lender.
The profit is up by 67 per cent compared to the corresponding period of the last year. The operating profit increased by 9.84 per cent year-on-year (YoY) to Rs 18,079 crore in Q2FY22 from Rs 16,460 crore in Q2FY21. The Net Interest Income for Q2FY22 increased by 10.65 per cent YoY.
Home loan, which constitutes 24 per cent of Bank’s domestic advances, has grown by 10.74 per cent YoY. Including the growth in Corporate Bonds / CPs, the loan book has grown by 6.21 per cent YoY.
The Net Non-Performing Assets (NPA) ratio at 1.52 per cent is down 7 bps YoY. Gross NPA ratio at 4.90 per cent is down 38 bps YoY. Provision Coverage Ratio (PCR) is at 87.68 per cent.
