State Bank of India (SBI), which is the country’s largest lender, on Saturday reported a 9.13 per cent rise in its consolidated net profit to Rs 16,099.58 crore for the September 2023 quarter. SBI’s total income during July-September 2023 stood at over Rs 1.12 lakh crore, higher as compared with Rs 88,733 crore in the year-ago period.
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, according to a regulatory filing.
The state-owned lender’s consolidated net profit had stood at Rs 14,752 crore in the year-ago period and Rs 18,356 crore in the June 2023 quarter.
SBI controls over a fifth of the overall market and has the widest network in the country.
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.
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