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State Bank of India (SBI), has reported a 37.7% YoY decrease in net profit at Rs.1,581.55 crore for the Q2. Last year in the same quarter it had reported a profit of Rs.2,538.22 crore.
Net interest income, the difference between interest earned and interest expended, increased by 27.3% year-on-year to Rs 18,585.9 crore in the quarter ended September 30. Further, SBI’s assets quality has improved.
Gross non-performing assets (GNPA) as percentage of gross advances decreased to 9.83 % in the Q2, from 9.97 % in the Q1 but rose on year-on-year basis. GNPA for the bank stood at 7.14% in the corresponding quarter previous year.
