SBI Q3 Outcomes: Revenue surges 62% YoY to Rs 8,432 crore, beats estimate

NEW DELHI: State Financial institution of India (SBI) on Saturday reported a 62.26 per cent year-on-year (YoY) rise in standalone internet revenue at Rs 8,431.88 crore in contrast with Rs 5,196.22 crore within the corresponding quarter final yr.

The determine got here in greater than Rs 8,200 crore revenue estimated by analysts in an ET NOW ballot.

Curiosity earned for the quarter rose 4.41 per cent to Rs 69,678.12 crore from Rs 66,734.50 crore in the identical quarter final yr.

Internet curiosity revenue (NII) rose 6.48 per cent YoY to Rs 30,687 crore from Rs 28,820 crore. Internet curiosity margin (NIM) improved 6 foundation factors to three.4 per cent within the December quarter from 3.34 per cent corresponding quarter final yr.

Slippages for the quarter stood at Rs 2,334 crore. General restructuring below Covid decision plan-1 and a couple of stood at Rs 32,895 crores, which was 1.2 per cent of whole advances.

The financial institution stated sturdy progress was seen within the private retail phase, pushed by residence loans, Xpress credit score and different loans. Company & SME credit score additionally picked up through the quarter, it stated.

Deposits for the quarter rose 8.83 per cent YoY to Rs 38,47,794 crore whereas gross advances had been up 8.47 per cent at Rs 26,64,602 crore within the quarter below assessment. Out of this, retail private advances had been up 14.57 per cent YoY at 9,52,189 crore.

Gross NPA for the quarter stood at 4.5 per cent, which was decrease than 4.9 per cent within the September quarter and 4.77 per cent within the year-ago quarter.

Supply: BSE; firm submitting

Non-interest revenue for the quarter fell 6.19 per cent YoY to Rs 8,673 crore from Rs 9,246 crore.

Foreign exchange revenue was down 21 per cent YoY at Rs 484 crore, miscellaneous revenue was down YoY 17 per cent at Rs 1,929 crore and revenue and loss on sale of investments was additionally down 46.45 per cent YoY at Rs 514 crore. Price revenue, then again, grew 7.45 per cent to Rs 5,747 crore.

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