Rs 3,581 crore Q4 profit for SBI
State Bank of India (SBI) in June reported ...
State Bank of India (SBI) in June reported a four-fold jump in its net profit for the January-March quarter of financial year 2019-20 at Rs 3,581 crore. The net profit for the quarter rose by 327 per cent from Rs 838 crore net profit reported during the corresponding quarter FY 2018-19. The state-run lender reported a surge in profits largely on the back of a one-time gain of Rs 2,731 crore, from a stake sale in its credit card unit, SBI Cards.
Net NPA ratio of the bank was 2.23 per cent, down 78 bps YoY and 42 bps QoQ and the gross NPA ratio at 6.15 per cent was down 138bps YoY and 79 bps QoQ, the bank said in a regulatory filing.
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EDITOR'S DESK, Nov 2024
On November 6, the U.S. witnessed an extraordinary political turnaround as Donald J. Trump made a triumphant return, overcoming legal hurdles, a volatile political climate, and even assassination attempts. His victory in the 2024 presidential election is not only seen as a personal vindication but also as a momentous event for the global Indian diaspora, who have often viewed Trump as a reliable ally of India.
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