Releasing the results of Q4 of FY23 today, SBI said that the bank has registered 83 per cent higher net profit. In the same quarter of the year 2021-22, the bank had earned a net profit of 9113. A year ago, the net profit in the financial year 2021-22 was Rs 31675.98 crore.
The country’s largest bank State Bank of India (SBI) has released the results of the last quarter of FY23 today. Declaring its results in a regulatory filing today, SBI said that the bank has earned a net profit of 83 per cent in the last quarter.
83 percent increased net profit
SBI has reported an 83 per cent jump in net profit to Rs 16,694.51 crore in Q4 of FY23. The bank had earned a net profit of 9,113 in the same quarter of FY 2021-22 a year ago.
On the other hand, if we talk only about the March quarter, then the interest income of SBI has increased by 31 percent to Rs 92,951 crore.
NPA also declined
Giving the data of bad loan i.e. non-performing asset (NPA), the bank said that the bad loan of the bank halved to Rs 3,315.71 crore in the March quarter, compared to Rs 7,237.45 crore in the same period a year ago.
Net profit increased by 59 percent in the whole year
SBI reported that for FY 2022-23, the bank’s net profit grew by 59 per cent to Rs 50,232.45 crore from Rs 31,675.98 crore in FY 2021-22, a year ago.
Dividend declared
After the profit made in the last quarter, SBI has also announced dividend to its investors. SBI has declared a dividend of Rs 11.30 per equity share (1130 per cent) for the financial year ended. The bank said that this dividend will be paid by June 14.
SBI shares fell more than 2 percent
Till the time of writing the news, SBI shares are trading at Rs 573, down 2.23 per cent on NSE, while they are down 2.16 per cent on BSE.
