India’s largest bank State Bank of India (SBI) posted its Q4 FY22 results on May 13, 2022. The bank reported a jump of 8.1% QoQ (Quarter on Quarter) in its Net Profit for the quarter under review which came in at Rs 9,114 crore against Rs 8,431 crore in the previous quarter. On a YoY (Year on Year) basis, the Net Profit is up 41.3% to Rs 9,114 crore from Rs 6,450 crore in the year ago period.
SBI has clocked its operating profit at Rs 19,716 crore for Q4 FY22, against Rs 18,521 crore in the previous quarter. The bank’s total income was up nearly 40% QoQ to Rs 11,880 crore in Q4 FY22 from Rs 8,673 crore in the previous quarter. However, the total income is down by 36.5% YoY to Rs 11,880 crore from Rs 16,225 crore in the corresponding quarter in the previous financial year.
SBI’s Gross NPA (Non-Performing Assets) are down to 3.97% from 4.50% in the previous quarter and 4.98% in the year ago period. Its Net NPA is down to 1.02% from 1.34% in Q3 FY22 and 1.50% in Q4 FY21.
The bank’s interest income is up 8.65% YoY to Rs 70,733 crore from Rs 65,102 crore in the year ago period. SBI has declared a dividend of Rs 7.10 per equity share which is payable on June 10, 2022.
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Research Analyst: Bavadharini KS