If you have an account with SBI Bank, then it is very important for you to take this special information about the bank. SBI Bank is currently facing many troubles. Which is very important for you to know about. So that you do not get harmed in any way. Know full details.
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Know here, SBI Share Price: State Bank of India is counted in the largest bank of the country. Lakhs of people have accounts in this bank. However, now an important information related to the bank has come to the fore.
SBI Result: Public sector State Bank of India (SBI) has suffered a setback. In fact, in the first quarter of the current financial year of the bank, there has been a decrease of seven per cent in net profit on a standalone basis.
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Now State Bank Of India’s income also decreased
With this it has been Rs 6068 crore. Along with this, the income of State Bank of India has also decreased, due to which there has been a decrease in the profit of the bank. SBI said in the information given to the stock markets that it had a net profit of Rs 6,504 crore in the April-June quarter of a year ago.
However, on a consolidated basis, SBI’s net profit declined marginally to Rs 7,325.11 crore. It was Rs 7,379.91 crore in April-June last year. The total income of the bank increased from Rs 93,266.94 crore in April-June, 2021 to Rs 94.524.30 crore in April-June, 2022.
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Now Bank’s income decreased
SBI is said to be the largest bank of the country. SBI said that its standalone income declined to Rs 74,998.57 crore in the first quarter of FY 2022-23 from Rs 77,347.17 crore in the same quarter last year. The bank’s operating profit also declined by 33 per cent to Rs 12,753 crore as against Rs 18,975 crore in the same quarter last year.
Bank’s interest income increased
However, the interest income has increased. The interest income of the bank increased to Rs 72,676 crore as against Rs 65,564 crore in the previous year. With this, the net interest income also increased to Rs 31,196 crore from Rs 27,638 crore in the previous year. The bank’s net interest margin increased to 3.23 per cent from 3.15 per cent in the quarter under review.
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Now, So Much NPA
At the same time, the gross non-performing assets (NPA) ratio of the bank improved from 5.32 per cent in the previous year to 3.91 per cent in the quarter under review. Similarly, net NPAs also declined to 1.02 per cent in June 2022 from 1.7 per cent in June quarter of the previous year. Due to this the provision for bad loans was reduced which stood at Rs 4,268 crore. Last year it was Rs 5,030 crore.
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