08-Nov-2024 03:27 PM
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New Delhi, Nov 8 (Reporter) India’s largest lender State Bank of India on Friday reported 28 percent jump in net profit at Rs 18,331 crore y-o-y in the second quarter of current financial year versus Rs 14,330 crore in the same quarter of last financial year that is 2023-24.
Net Interest Income of the Bank grew 5.37 percent at Rs 41,620 crore as of September 30, 2024 compared to Rs 39,500 crore in the same quarter of 2023-24 fiscal, the bank said in a regulatory filing with the stock exchanges.
In terms of asset quality of the Bank, it said its Gross NPA ratio stood at 2.13 percent, an improvement of 42 bps Y-o-Y, the Bank said, adding the Net NPA ratio improved by 11 bps y-o-y at 0.53 percent during the second quarter of 2024-25.
In absolute terms the Gross NPA stood at Rs 83,369 crore as of September, 2024 compared to 86,974 crore in 2023, the SBI said, adding the Net NPA was 20,294 crore this year as against Rs 21,352 crore last year...////...