Saturday, November 9, 2024
HomeEconomy and FinanceSBI registers a profit for the first time after 3 quarters, improves asset quality...

SBI registers a profit for the first time after 3 quarters, improves asset quality as well

"There is no looking back from here, numbers are going to look bigger and better," Rajnish Kumar, chairman of the SBI, stated

The State bank of India has posted a standalone profit of Rs. 944.87 crore in the second quarter of FY19, reporting a 40.26% fall YoY from Rs. 1581.55 crore in the same quarter last year.


The SBI has also reported an improvement in Asset quality with gross NPA at 9.95% vs 10.69% in the previous quarter. The net NPA has also decreased to 4.84% from 5.29% in the previous quarter.


The mood appears to be positive as the bank has registered a profit for the first time after 3 quarters. “There is no looking back from here, numbers are going to look bigger and better,” Rajnish Kumar, chairman of the SBI, stated. Slippage ratio has dropped to 2% as well, which is the lowest in 6 quarters. The Gross Slippage has dropped sharply at Rs 10,888 crore Vs Rs 14349 crore (QoQ).

Join OpIndia's official WhatsApp channel

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staff
OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Meet Marathi Muslim Seva Sangh (MMSS), the NGO practicing ‘vote jihad’, instigating hatred & fear among Maharashtrian Muslims to vote against BJP

The Marathi Muslim Seva Sangh (MMSS) is collaborating with over 180 NGOs in the state and has been actively working within Muslim communities to boost voter enrollment, urging them to vote for the MVA alliance led by the Congress under the guise of spreading ‘vote awareness’.

‘Minority status of AMU not lost due to statute’: SC overrules 1967 verdict, new bench to decide AMU’s minority status

In his dissenting judgement, Justice Surya Kant stated that a minority can establish an institute under Article 30, but it must be recognised by law as well as by the University Grants Commission, a statutory authority within the Education Ministry.

Recently Popular

- Advertisement -