SBI’s profit jumped 67 percent in the second quarter, NPA also improved

SBI Quarter ResultsState Bank of India, the largest public sector bank, has announced excellent results in the second quarter of the financial year 2021-22. SBI’s net profit has jumped 67 percent in the second quarter.

Net profit stood at Rs 7626.6 crore

SBI has informed the stock exchanges that in the second quarter between July and September, the bank has made a net profit of Rs 7,626.6 crore. Whereas in the last financial year, the net profit in the same quarter was Rs 4,574.16 crore. Such an increase in the profit of SBI has come when the bank has to make a provision of Rs 7418 crore after reviewing the family pension of its employees.

Improvement in NPAs

SBI’s net interest income (NII) jumped 29 per cent to Rs 31,183.9 crore in this quarter. The bank’s non-performing loans ratio has also improved. It has come down from 5.32 percent to 4.90 percent. At the same time, the net NPA ratio of the bank has also improved, which has come down to 1.52 percent from 1.77 percent in the previous quarter.

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