SBI Q3 profit surges 84% to Rs 16,891 crore

New Delhi: The country's largest lender State Bank of India (SBI) on Thursday reported an 84 percent jump in standalone net profit to Rs 16,891 crore in the December quarter.

State Bank of India (SBI) had earned a standalone net profit of Rs 9,164 crore in the year-ago period.

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The bank's total income rose to Rs 1,28,467 crore in the third quarter of the current fiscal against Rs 1,18,193 crore in the same period a year ago, SBI said in a regulatory filing.

During the quarter, the bank's interest income grew to Rs 1,17,427 crore compared to Rs 1,06,734 crore a year ago.

On the asset quality front, the bank witnessed improvement with gross Non-Performing Assets (NPA) moderating to 2.07 percent at December-end from 2.42 percent at the end of the third quarter of the last year.

Similarly, net Non-Performing Assets (NPAs) also eased to 0.53 percent against 0.64 percent at the end of the same period a year ago.

On a consolidated basis, SBI Group's net profit rose by 70 percent to Rs 18,853 crore over Rs 11,064 crore in FY24.

Consolidated total income increased to Rs 1,67,854 crore over Rs 1,53,072 crore in the third quarter of the preceding fiscal.

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