SBI posts 41% jump in Q3FY20 net profit; asset quality improves | Editorji
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SBI posts 41% jump in Q3FY20 net profit; asset quality improves

Jan 31, 2020 16:19 IST

The country's largest lender by assets, the State Bank of India, reported its biggest quarterly profit in at least 15 years on Friday, as provisions for bad loans fell. The public sector lender reported a 41% jump in net profit to ₹6,797.25 crore in the December quarter this fiscal. Consolidated income rose to ₹95,384 crore in the third quarter from ₹84,390.14 crore in the year ago period.

Asset quality also showed improvement with the gross non-performing assets (NPAs) ratio falling to 6.94% from 8.71% by same period in 2018, while the net NPAs dropped to 2.65% from 3.95%.

 

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