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State Bank of India (SBI) has reported its fourth quarter results wherein the profit fell sharply by 66 percent to Rs 1,263.8 crore on account of 2 fold increase in provisions and slow growth in net interest income.
The net interest income has increased by 3.9 percent to Rs 15,290.76 crore from Rs 14, 711.76 crore YoY.
For the quarter ended March 2016, the provisions for non-performing assets shot up by 58.8 percent quarter-on-quarter and 143.5 percent year-on-year to Rs 12,139.2 crore.
Bank’s non-performing assets stood at 6.50 percent for the quarter under review.
