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The country's largest lender <keyword id="13222" type="General" weightage="20" keywordseo="sbi" source="Orion">SBI</keyword> on Saturday reported a 9.13 per cent growth in consolidated net profit for the September quarter to Rs 16,099.58 crore. The state-run lender had reported a consolidated net profit of Rs 14,752 crore in the year-ago period and Rs 18,356 crore in the June quarter. On a standalone basis, it posted a net profit of Rs 14,330.02 crore as against Rs 13,264.52 crore in the year-ago period. The bank, which controls over a fifth of the overall market and has the widest network in the country, reported a total income of over Rs 1.12 lakh crore for the quarter under review, up from Rs 88,733 crore in the year-ago period. From an asset quality perspective, its gross non-performing assets ratio was at 2.55 per cent as of September 30, an improvement from the 3.52 per cent in the year-ago period and the 2.76 per cent in the first quarter of the current fiscal. Its overall capital adequacy stood at 14.28 per cent as of September 30. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/hp-omen-16-gaming-laptop-review/articleshow/104945732.cms">HP Omen 16 laptop review – A powerful laptop with a fine display</a> <a href="https://www.businessinsider.in/business/auto/news/indias-electric-two-wheelers-up-and-running-after-reduced-fame-subsidy-bump/articleshow/104912419.cms">India’s electric two-wheelers up and running after reduced FAME subsidy bump</a> <a href="https://www.businessinsider.in/tech/mobile/news/india-q3-smartphone-shipments-apple-gains-34-pc-market-share-in-india/articleshow/104907807.cms">Smartphone shipments: Apple gains 34% market share in India as Samsung, Xiaomi decline</a>

SBI posts 9.13% rise in consolidated net profit to Rs 16,099 crore in Q2

India's largest lender <keyword id="19898108" type="General" weightage="100" keywordseo="sbi" source="keywords">SBI</keyword> on Saturday reported a 35% fall in standalone net profit to Rs 9,164 crore for the December quarter. <keyword id="19934368" type="General" weightage="20" keywordseo="state-bank-of-india" source="keywords">State Bank of India</keyword> (SBI) had earned a net profit of Rs 14,205 crore in the year-ago period. The bank's total income rose to Rs 1,18,193 crore in the third quarter of the ongoing fiscal as against Rs 98,084 crore in the same period a year ago, the bank said in a regulatory filing. During the quarter, the bank earned interest income of Rs 1,06,734 crore as against Rs 86,616 crore in the same period a year ago. The bank's gross Non-Performing Assets (NPA) of the total advances declined to 2.42% at December-end from 3.14% at the end of the third quarter of last year. Similarly, net Non-Performing Assets (NPAs) also eased to 0.64% against 0.77% at the end of the same period a year ago. On a consolidated basis, SBI Group's net profit slipped 29% to Rs 11,064 crore as against Rs 15,477 crore in the same quarter a year ago. However, total income increased to Rs 1,53,072 crore as compared to Rs 1,27,219 crore in the first quarter of the previous fiscal. During the quarter under review, the bank acquired the entire 20% stake held by SBI Capital Markets Ltd (SBICAPS) in SBI Pension Funds Pvt Ltd. With this, the bank's stake in SBI Pension Funds Pvt Ltd has increased from 60% to 80%, it said, adding that the consideration paid for the transaction is Rs 229.52 crore.

SBI net profit declines 35% to Rs 9,164 crore in Q3

<keyword id="160270" type="CITY" weightage="20" keywordseo="The-State-Bank-of-India">The State Bank of India</keyword> (<keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword>), which is the country’s largest public sector lender, on Friday reported a surge of 30% in its net profit at Rs 2,910 crore for the <keyword id="4021103" type="UNKNOWN" weightage="20" keywordseo="Third-quarter">third quarter</keyword> (<keyword id="4121031" type="ORGANIZATION" weightage="20" keywordseo="Q3">Q3</keyword>) that ended on December 2014 as it reported a small increase in its bad loans, according to a PTI report. In the year-ago period, the SBI had registered a net profit of Rs 2,234.34 crore, the bank revealed in a <keyword id="35140" type="CITY" weightage="20" keywordseo="BSE">BSE</keyword> filing. 

	In the third quarter, the total income of the bank moved up to Rs 43,784 crore as compared to Rs 39,068 crore in the year-ago period.
 

	Apart from this, the net interest income of the SBI zoomed 9% to Rs 13,777 crore as against Rs 12,640 crore in the third quarter of last fiscal.
 

	The PTI report further revealed that provisions for bad loans during the Q3 of current fiscal surged 26% to Rs 5,235 crore from Rs 4,150 crore during corresponding quarter.
 

	In the quarter under review, the net NPAs of the SBI fell to 2.8% as compared to 3.24% in same period of last it. The PTI report also stated that gross NPAs slumped to 4.9% in the Q3 from 5.73% in the year-ago period. 
	(Image: The Economic Times)

SBI net profit surges 30% in Q3

<keyword id="19960762" type="General" weightage="20" keywordseo="SBI-Life-Insurance" source="keywords" meta.keywordsubtype="org" meta.entityname="SBI Life Insurance" meta.hostid="83" meta.entityid="SBI Life Insurance">SBI Life Insurance</keyword> on Friday reported 4 per cent rise in <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> at Rs 811 crore for the fourth quarter ended March 2024 as value of new business grew modestly. The life insurer had posted a net profit of Rs 777 crore in the year-ago quarter. <keyword id="20840570" type="General" weightage="20" keywordseo="total-income" source="keywords">Total income</keyword> during January-March FY24 rose to Rs 37,567 crore from Rs 22,805 crore in the same period of FY23, <keyword id="19906098" type="General" weightage="20" keywordseo="sbi-life" source="keywords">SBI Life</keyword> said in a regulatory filing. Net premium income in Q4FY24 stood at Rs 25,116 crore as against Rs 19,897 crore in the year-ago period. For the full year 2023-24, the company's net profit grew 10 per cent to Rs 1,890 crore from Rs 1,720 crore in the previous year. Total income during the year rose to Rs 1,32,631 crore from Rs 81,598 crore a year ago. SBI Life said it registered a growth of 9 per cent in the value of new business (VoNB) to Rs 5,550 crore in FY24. VoNB is the present value of expected future earnings from new policies written during a specified period. It reflects the additional value expected to be generated through the writing of new policies during a specified period. Assets under management (AUM) grew 27 per cent to Rs 3.8 lakh crore as of March 31, 2024, it said. Solvency ratio declined to 196 per cent from 215 per cent in the previous fiscal. Solvency margin represents the additional capital that an insurer must maintain to cover potential claims beyond their expected liabilities. This serves as a financial safety net, ensuring their ability to settle all claims even in the most challenging circumstances. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank">Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a>

SBI Life Q4 profit rises 4% to ₹811 crore

New Delhi, Jun 5 () Shares of State Bank of India on Friday zoomed nearly 9 per cent after the company posted over four-fold jump in standalone net profit for March 2020 quarter. The stock jumped 7.90 per cent to close at Rs 187.80 on the BSE. During the trade, it advanced 9 per cent to Rs 189.80. On the NSE, it rose sharply by 8.73 per cent to settle at Rs 189.25. The company's market valuation rose by Rs 12,272.2 crore to Rs 1,67,604.20 crore on the BSE. In traded volume terms, 107.14 lakh shares were traded on the BSE and over 20 crore on the NSE. SBI was the top gainer in the Sensex pack. State Bank of India on Friday posted over four-fold jump in standalone net profit at Rs 3,581 crore for March 2020 quarter mainly on account of stake sale in its credit card subsidiary and fall in bad loans. The country's largest lender had clocked a net profit of Rs 838.44 crore in January-March period of 2018-19. However, the profit during the fourth quarter of 2019-20 was down sequentially.The profit in December quarter was Rs 5,583.36 crore, SBI said in a regulatory filing. "Bank registered a net profit of Rs 3,581 crore in Q4FY20, an increase of 327 per cent over Q4FY19," it said. The stake sale in SBI Cards and Payment Services and SBI Life Insurance Company helped the bank record its highest ever net profit in 2019-20. On asset quality front,the bank showed improvement with gross non performing assets (NPAs) falling to 6.15 per cent of the gross advances as on March 31, 2020 as against 7.53 per cent by the year-ago same period. Net NPAs or bad loans too were trimmed to 2.23 per cent from 3.01 per cent. SUM RUJ RUJ

State Bank shares surge 9 pc; m-cap jumps Rs 12,272 cr

New Delhi, Jan 31 () The country's largest lender SBI on Friday reported a 41 per cent jump in net profit to Rs 6,797.25 crore in the October-December quarter this fiscal compared to Rs 4,823.29 crore in the year-ago period.
 Consolidated income rose to Rs 95,384.28 crore in the third quarter from Rs 84,390.14 crore in October-December 2018-19, SBI said in a regulatory filing.
 On asset front, the lender showed improvement with the gross non-performing assets (NPAs) falling to 6.94 per cent of the gross advances as at December 31, 2019 from 8.71 per cent by same period in 2018. The net NPAs dropped to 2.65 per cent from 3.95 per cent.
 On standalone basis, net profit jumped 41.2 per cent to Rs 5,583.36 crore in the third quarter of the current fiscal compared to Rs 3,954.81 crore during the corresponding October-December period in the same period a year ago.
 "This is also the highest ever quarterly net profit recorded by the bank," SBI said.
 Income (standalone) of the bank rose to Rs 76,797.91 crore as against Rs 70,311.84 crore in same period of 2018-19.
 During the quarter, the bank exercised the option of lower tax rate taking a one-time hit of Rs 1,333 crore.
 "Excluding the impact of this one-time additional hit, net profit in Q3FY20 would have been Rs 6,916 crore against Rs 3,955 crore in Q3FY19," SBI said.
 The provisioning for bad loans (standalone) too came down to Rs 8,193.06 crore for the third quarter of 2019-20 from Rs 13,970.82 crore parked aside for year ago period.
 SBI shares were trading 2.14 per cent higher at Rs 317.35 on BSE. KPM MR
MR

SBI share price jumps over 2% as profit spikes 41% in the latest quarterly earnings

The finance ministry has initiated the process for finding new chief of the country's largest lender <keyword id="6354731" type="CITY" weightage="20" keywordseo="State-Bank-Of-India">State Bank of India</keyword> (<keyword id="13222" type="CITY" weightage="100" keywordseo="SBI">SBI</keyword>) as Arundhati <keyword id="721" type="PERSON" weightage="100" keywordseo="Bhattacharya">Bhattacharya</keyword>'s extended term comes to an end on October 6, according to PTI. "Department of Financial Services has communicated to Banks Board Bureau the emerging vacancies at the top level of <keyword id="44530" type="COMPANY" weightage="20" keywordseo="PSU">PSU</keyword> banks which will have to be filled during course of the year," a senior finance ministry official said. This also includes chairman and one managing director of the SBI, which alone has markshare of more than 20 per cent. Bhattacharya will complete her four-year term as chairperson of SBI on October 6. Besides chairman, SBI has four managing directors looking after different departments. The post assumes significance as the bank has recently merged five associates and the Bharatiya Mahila Bank (<keyword id="423104" type="ORGANIZATION" weightage="20" keywordseo="BMB">BMB</keyword>) pushing SBI into the league of top 50 banks globally in terms of assets. State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and <keyword id="6560713" type="COMPANY" weightage="20" keywordseo="State-Bank-of-Travancore">State Bank of Travancore</keyword> (SBT), besides BMB, merged with SBI with effect from April 1. The process of integration would at least take a year. The government had in February approved the merger of these five associate banks with SBI. Later in March, the Cabinet approved merger of BMB as well. SBI first merged <keyword id="82725" type="COMPANY" weightage="20" keywordseo="State-Bank-of-Saurashtra">State Bank of Saurashtra</keyword> with itself in 2008. Two years later, State <keyword id="269823" type="COMPANY" weightage="20" keywordseo="Bank-of-Indore">Bank of Indore</keyword> was merged with it. For the fourth quarter ended March 2017, the bank reported more than doubling of its net profit on the back of increased lending and reduction in provisioning for bad loans. Net profit of the bank on standalone basis rose to Rs 2,814.82 crore for the March quarter as against Rs 1,263.81 crore in the same period of previous fiscal 2015-16. For the entire fiscal ended March 2017, the net profit of the bank improved by 5.36 per cent to Rs 10,484 crore as against Rs 9,951 crore in the previous fiscal. With stock prices inching up, SBI has lined up share sale through which it intends to raise Rs 15,000 crore during the current fiscal. It is in the process of appointing six merchant bankers for managing its proposed share sale. The central government holds 62.22 per cent stake in the bank as of March 2017.

Who is becoming SBI’s new chief after Bhattacharya?

The country's largest lender <keyword id="6354731" type="General" weightage="20" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword> (<keyword id="13222" type="General" weightage="100" keywordseo="sbi" source="Orion">SBI</keyword>) on Wednesday reported a 69 per cent jump in its consolidated <keyword id="6431508" type="General" weightage="20" keywordseo="net-profit" source="Orion">net profit</keyword> at ₹8.889.84 crore for the second quarter ended September 30 on account of decline in bad loans. The bank's net profit was ₹5,245.88 crore in the July-September quarter of <keyword id="1547700" type="General" weightage="20" keywordseo="previous-fiscal" source="Orion">previous fiscal</keyword>, SBI said in a regulatory filing. The total income of the SBI group rose to Rs 1,01,143.26 crore in the quarter under review, compared to ₹95,373.50 crore in the year-ago period. On a standalone basis, the bank's net profit rose 67 per cent to ₹6504 crore as against ₹4,574.16 crore. The lender's total income increased to ₹77,689.09 crore from ₹75,341.80 crore in the July-September quarter of last fiscal. The asset quality of the bank improved with the gross non-performing assets (<keyword id="127693" type="General" weightage="20" keywordseo="npas" source="Orion">NPAs</keyword>) declining to 4.90 per cent of the gross advances as on September 30, 2020, from 5.28 per cent a year ago. Net NPAs or bad loans too declined to 1.52 per cent of the advances from 1.59 per cent in the year-ago period. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/hubble-telescope-once-again-enters-safe-mode-science-operations-shut/articleshow/87506599.cms">Hubble telescope once again enters safe mode, science operations shut</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/google-announces-scholarship-for-female-computer-science-students-residing-in-asia-pacific-countries/articleshow/87505399.cms">Google announces scholarship for female computer science students residing in Asia-Pacific countries</a>

SBI reports strong net profit as bad loan eases down

New Delhi, June 5 () The country's largest lender SBI on Friday reported over four-fold jump in standalone net profit at Rs 3,580.81 crore for March quarter 2019-20. State Bank of India (SBI) had registered a profit of Rs 838.4 crore during January-March period of 2018-19, the lender said in a regulatory filing. Income of the bank during March quarter of the last financial year rose to Rs 76,027.51 crore from Rs 75,670.5 crore in the same period of 2018-19, SBI said. On the asset front, gross non performing assets (NPAs) of the bank improved at 6.15 per cent of gross advances as on March 31, 2020 as against 7.53 per cent by the same period of 2019. Net NPA or bad loans stood at 2.23 per cent as on March 31, 2020 as compared to 3.01 per cent by the year-ago same period. SBI stock was trading at Rs 178.70 on the BSE, up 2.67 per cent from the previous close. KPM NKD ANU ANU

SBI reports over four-fold jump in Q4 profit at Rs 3,581 cr

<ul><li>The SGX Nifty was trading 0.81% lower at 7:55 am, indicating a negative start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Even amid positive cues from the global markets, the Indian equities are likely to open in the red on Thursday. The SGX Nifty was trading 0.81% lower at 7:55 am, indicating a negative start for Nifty50. However, the US stock markets also soared on Wednesday, as investors shrug off the undecided election. The Dow Jones Industrial Average closed 368 points higher, and the S&amp;P 500 gained 2.2%. These are the stocks to watch out for during the trading session on November 5: PVR and Inox Leisure PVR and Inox Leisure stocks will be in focus during the trade today after <a href="https://www.businessinsider.in/india/news/maharashtra-government-allows-reopening-of-cinema-halls-with-50-capacity-from-november-5/articleshow/79041693.cms?upcache=2">the Maharashtra Government has now allowed cinema halls</a> to open in areas outside containment zones with 50% of their seating capacity from today. The shares of PVR and Inox Leisure ended 1% and 2% higher on Wednesday, respectively. HPCL The board of the Hindustan Petroleum (HPCL) approved a ₹2,500 crore share buyback plan as the company management feels the share price is lower than the value it deserves. In a stock exchange filing, HPCL said it would buy back up to 10 crore shares for no more than ₹250/share. The net profit of the company also nearly doubled in the second quarter led by a surge in refining margins and inventory gains. The net profit in July-September stood at ₹2,477 crore as compared to ₹1,052 crore in a year-ago period. The shares of HPCL ended 0.83% higher on Wednesday, SBI Cards SBI Cards and Payment Services (SBI Card) has launched credit cards in partnership with the digital payment platform Paytm. Available in two variants, Paytm SBI Card and Paytm SBI Card SELECT, the product has been launched on the Visa platform. The shares of SBI Cards ended 0.53% higher on Wednesday, JK Lakshmi JK Lakshmi Cement reported an 86.90% rise in consolidated net profit to ₹92.93 crore for the second quarter ended September 30, helped by cost reduction. The revenue from operations rose 11.79% to ₹1,131.74 crore during the quarter under review. The shares of JK Lakshmi ended 4% higher on Wednesday, Jubilant Life Sciences The board of Jubilant Life Sciences approved raising up to ₹100 crore via non-convertible debentures (NCD). The shares of Jubilant Life Sciences ended 2% higher on Wednesday, Pidilite Industries Fevicol maker Pidilite Industries reported a 9.66% increase in consolidated net profit to ₹356.44 crore for the quarter ended September 30. The company’s revenue from operations rose 4.08% at ₹1,880.33 crore during the quarter under review. The shares of Pidilite Industries ended 0.36% lower on Wednesday, Aditya Birla Capital, Adani Power, Berger Paints India and Emami Aditya Birla Capital, Adani Power, Berger Paints India and Emami are slated to report their second-quarter earnings today. SEE ALSO:<a href="https://www.businessinsider.in/politics/world/news/here-are-trump-and-bidens-paths-to-victory-based-on-where-the-election-currently-stands/articleshow/79044299.cms" data-type="tilCustomLink"> How Trump and Biden can win based on where the election stands now</a> <a href="https://www.businessinsider.in/business/auto/news/india-may-announce-vehicle-scrappage-policy-soon-and-this-is-what-it-means-for-consumers-and-new-buyers/articleshow/79041346.cms" data-type="tilCustomLink">India is looking to bring in the vehicle scrappage policy soon — here’s what it means for you</a> <a href="https://www.businessinsider.in/finance/banks/news/sbis-profit-jumps-over-50-in-q2-plans-to-outperform-the-industry-in-credit-growth/articleshow/79039165.cms" data-type="tilCustomLink">SBI’s profit jumps over 50% in Q2 — India’s largest bank plans to outperform the industry when it comes to credit growth</a>

You Searched For "sbi net profit" and got 10 results

SBI posts 9.13% rise in consolidated net profit to Rs 16,099 crore in Q2

PTI

SBI net profit declines 35% to Rs 9,164 crore in Q3

PTI

SBI net profit surges 30% in Q3

BI India Bureau

SBI Life Q4 profit rises 4% to ₹811 crore

PTI

State Bank shares surge 9 pc; m-cap jumps Rs 12,272 cr

PTI

SBI share price jumps over 2% as profit spikes 41% in the latest quarterly earnings

PTI

Who is becoming SBI’s new chief after Bhattacharya?

BI India Bureau

SBI reports strong net profit as bad loan eases down

PTI

SBI reports over four-fold jump in Q4 profit at Rs 3,581 cr

PTI

Top stocks to watch — PVR, Inox Leisure, SBI Cards, HPCL, Pidilite Industries, Adani Power, Berger Paints, and others

Navdeep Yadav

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