On Friday it has been announced that, an over four-fold jump in net profit at Rs 3,580.81 crore for the March quarter contrasted with Rs 838.40 crore in the same quarter last year.The profit figure marked way higher than Rs 2,000 crore predicted by a study according to few reports.
According to the sources, the total provisions and occurrences for the quarter dip to Rs 13,495 crore in comparison with Rs 16,501.89 crore in the previous year quarter. This was, however, double the Rs 7,252 crore provisions the bank made in the December quarter.
Also, the Net Interest income (NII) for the quarter drop 0.81 per cent year-on-year (YoY) to Rs 22,767 crore from Rs 22,954 crore.
The bank also said that a collected of 21.8 per cent of its customers benefited from the RBI moratorium. In comparison of the terms in the loan value, it reflected at 23 per cent.
The State Bank of India (SBI) revealed 38.9 per cent of its corporate loans have been to Public Sector Undertakings (PSUs) and government departments. While 60.8 per cent of personal retail loans are to low-risk mortgages. It informed that over 95 per cent of its slackened personal lending is to government/PSU employees.