Business

SBI Q4 net profit rises 41% to Rs 9,114 crore

State Bank of India has reported over 41 per cent, year-on-year, jump in standalone net profit for the fourth quarter of the last fiscal to 9,114 crore rupees. The board of the State Bank has approved a dividend of seven rupees and 10 paise per share. The record date for the dividend is 26th of May.

The Bank said, its provisions for bad loans came down to nearly a third of the what it provisioned a year ago. It kept aside 3,262 crore rupees during the fourth quarter, compared to 9,914 crore rupees in the same quarter last year.

SBI’s net NPA stood at 1.02 per cent, in the fourth quarter, compared to 1.50 per cent last year.

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