On Friday, the State Bank of India (SBI) reported a 41.2 per cent YOY rise in net profit at Rs 9,113.5 crore for Q4FY22. The lender also announced a dividend of Rs 7.10 per share.

“The Central Board of the Bank, at its Meeting held on May 13, 2022, has declared a dividend of Rs 7.10 per equity share (710 per cent) for the financial year ended March 31, 2022. The date of dividend payment is fixed on June 10, 2022,” it said in a statement.

The bank raises a high net profit of Rs 6,451 crore in Q4FY21. However, SBI’s profit grew 8 per cent from Rs 8,432 crore in Q3FY22 increase in net interest income (NII).

• Trade War May Ease if China Shifts Manufacturing to US: Jefferies
• 55th GST Council Set to Held on 21 December 
• C2C Advanced Systems IPO GMP Today, Lot Size, Issue Date & Financials
• India to Lead Global Economy and AI: John Chambers
• Nazara Tech and WTFund to Invest in Two Gaming Startups 

NII, a bank’s main source of income, has soared 15.26 per cent to Rs 31,198 crore during the quarter, as against Rs 27,067 crore earned in Q4FY21.

“As per the directions of the Supreme Court, which said that there shall not be any charge of interest on interest/compound interest/penal interest for the period during the moratorium from March 1, 2020 to August 31, 2020, SBI has reversed interest income by Rs 830 crore during the year ended March 31, 2022,” SBI said.