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SBI Q2 Result: SBI’s profit up by 52% in July-September, NPA reduced

Shehnaz by Shehnaz
December 26, 2020
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SBI: They get 1% more interest on FD and RD, can start account at home
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State Bank of India (SBI) has reported a net profit of Rs 4574 crore in the July-September quarter of the financial year 2020-21. This is 51.88 percent more than the same quarter last year. Compared to the April-June 2020 quarter, the bank had a net profit of Rs 4189 crore in the first quarter.

The bank’s operating profit (excluding exceptional items) increased by 11.86 per cent to Rs 16460 crore during the second quarter, from Rs 14714 crore in the same period last year. Operating profit was recorded at Rs 16521 crore in the first quarter.

SBI’s total interest income in July-September was Rs 28181 crore, which is 14.56 percent more than the interest income of Rs 24600 crore in the same period. At the same time, the non-interest income remained flat at Rs 8528 crore. The bank has said in the statement that SBI’s performance in the second quarter has been good. The bank has registered an improvement in profits, capital adequacy, provision coverage ratio etc.

Tags: gross npa declinessbi profitsbi q2 resultsbi second quarter resultSBI second quarter resultsSBI's profit in July-Septemberstate bank of india net profit increase by 52 pc in july-sep quarter of fy21State Bank of India second quarter result
Shehnaz

Shehnaz

Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing around Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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