SBI Q4FY21 Details: SBI, the country’s largest public sector bank, recorded a record profit in the fourth quarter of FY 2021. During this period, the bank’s profit has increased by 80 per cent to about Rs 6451 crore. Whereas in the same quarter a year ago, the bank had a profit of close to Rs 3581 crore. There has been a huge jump in the fourth quarter profits due to the bank’s growth, net interest income, other income and reduced provisioning for bad loans. The bank has announced a dividend of 4 rupees on every share to shareholders for the financial year.
Net interest income increased to Rs 27,067 crore
SBI’s interest income has increased. The bank’s interest income in the fourth quarter also increased by 18.9 per cent to Rs 27,067 crore. Whereas the interest income was Rs 22,767 crore in the same quarter last year. The bank’s loan growth has been 5 per cent on an annual basis, which is expected.
11,051 crore provisioning
SBI’s provision for the fourth quarter on a quarter-on-quarter basis has been increased by Rs 10,342.4 crore to Rs 11,051 crore. That is, it has increased by 6.9 percent on a quarterly basis. Whereas in the fourth quarter of last year, the bank made provisions of Rs 13,495.1 crore. That is, it has decreased by 18.1 percent on an annual basis.
Improvement in asset quality
There has also been an improvement in the asset quality of the bank in the March quarter. On a quarterly basis, SBI’s gross NPA has come down from 5.44 per cent to 4.98 per cent. At the same time, net NPA has been reduced from 1.81 per cent to 1.50 per cent. SBI’s gross NPA has come down from Rs 1.34 lakh crore to Rs 1.26 lakh crore on a quarterly basis in rupees. At the same time, net NPA has come down to Rs 36,810 crore from Rs 42,797 crore in the previous quarter. In FY 2021, new NPAs of Rs 28,564 crore have also been revealed in SBI.