SBI Q4 net profit up 80%

State Bank of India’s standalone net profit jumped 80 per cent year-on-year (yoy) to ₹6,451 crore in the fourth quarter ended March 31, 2021, against ₹3,581 crore in the same period in the previous year.

The Board of India’s largest Bank declared a dividend of ₹4 per equity share (400 per cent) for the financial year ended 31st March,2021.

Net interest income increased 19 per cent y-o-y to ₹27,067 crore (₹22,767 crore in the year ago quarter). Other income was up 22 per cent y-o-y at ₹16,225 crore (₹13,346 crore in the year ago quarter).

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Loan loss provisions burden came down 17 per cent y-o-y to ₹9,914 crore (₹11,894 crore).

Gross non-performing assets came down to 4.98 per cent of gross assets against 6.15 per cent. Net non-performing assets position improved to 1.50 per cent of net assets against 2.23 per cent.

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