India's largest bank sees profit rise and bad loans shrink

Lending major State Bank of India (SBI) on Wednesday reported a year-on-year rise of 55.25 per cent in its net profit for Q1FY22.

Accordingly, the bank, reported its highest quarterly net profit of ₹6,504 crore in Q1FY22.

Besides, the lender's net interest income for the quarter under review increased by 3.74 per cent YoY.

"Net NPA ratio at 1.77 per cent is down 9 bps YoY. Gross NPA ratio at 5.32 per cent is down 12 bps YoY."

"Provision Coverage Ratio (PCR) is at 85.93 per cent, down 39 bps YoY."

In addition, the bank said its 'Capital Adequacy Ratio' (CAR) has improved by 26 bps YoY to 13.66 per cent as on June 2021 - without including Q1FY22 Profit.

"Return on Assets (RoA) increased by 15 bps YoY to 0.57 per cent in Q1FY22 against 0.42 per cent in Q1FY21."


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