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.
