2 JULY 2019 STATE OBSERVER NEWS JAMMU
India’s largest lender State Bank of India (SBI) registered a net profit of Rs 2,312 crore for the first quarter ending June 30, 2019 as against net loss of Rs 4,876 crore during the same quarter the previous year.This is also 176 percent higher than the net profit for Q4 FY19, the bank said in a regulatory filing.SBI said that its robust domestic credit growth at 11.89 percent YoY is driven by both retail-per (18.68% YoY Gr) as well as high rated corporates (11.62% YoY Gr).The Bank’s operating profit increased by 10.63 percent YoY while its net interest income grew by 5.23 percent. Its net interest income grew at 15.45 percent.SBI’s Gross NPA ratio was down 316 bps at 7.53 percent YoY while its net NPA ratio down 222 bps at 3.07 percent.
