Monday, October 3, 2022

People connected to SBI should be careful because the bank experienced a setback in this situation.

SBI Outcome: State Bank of India (SBI), a public company, has experienced a setback. In fact, the bank’s net profit on a single basis decreased by 7% in the first quarter of the current fiscal year. This brings the total to Rs 6068 crore. Additionally, the State Bank of India’s income has declined, which has resulted in a decline in the bank’s profit. SBI reported that it had a net profit of Rs 6,504 crore in the April-June quarter of the previous year in the information provided to the stock exchanges. SBI’s net profit, however, decreased slightly on a consolidated basis to Rs 7,325.11 crore. From April through June of the previous year, it was Rs 7,379.91 crore. Between April and June of 2021 and April and June of 2022, the bank’s total revenue increased from Rs 93,266.94 crore to Rs 94.524.30 crore.

SBI, reportedly the biggest bank in the nation, had a decline in income. SBI reported that its standalone income dropped from Rs 77,347.17 crore in the same quarter last year to Rs 74,998.57 crore in the first quarter of FY 2022-23. Additionally, the bank’s operating profit decreased by 33% from Rs 18,975 crore in the same quarter last year to Rs 12,753 crore this quarter.

Although interest income grew, interest income did. The bank’s interest income climbed to Rs 72,676 crore from Rs 65,564 crore the year before. As a result, the net interest income climbed as well, rising to Rs 31,196 crore from Rs 27,638 crore the year before. The bank’s net interest margin increased from 3.15 percent to 3.23 percent in the reviewed quarter.

Read More: Government Decision: 8th Pay Commission will come or not? Modi’s government made it clear.

NPA occurred frequently, however the bank’s gross non-performing assets (NPA) ratio decreased from 5.32 percent the year before to 3.91 percent in the quarter under consideration. In a similar vein, net NPAs also decreased from 1.7% in the June quarter of the previous year to 1.02 % in June 2022. As a result, the provision for bad loans, which was at Rs 4,268 crore, was lowered. It was Rs 5,030 crore the year before.

🔥🔥 Join Our Group For All Information And Update, Also Follow me For Latest Information🔥🔥
🔥 YouTube                  Click Here
🔥 Facebook Page                  Click Here
🔥 Instagram                  Click Here
🔥 Telegram Channel                   Click Here
🔥 Google News                  Click Here
🔥 Twitter                  Click Here
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img

Most Popular

spot_img

Latest

Use of phone SIMs will be heavily prosecuted; users of applications like WhatsApp and Telegram who use false IDs risk receiving a year in...

Making a fake ID, using a bogus identity on applications like WhatsApp, Telegram, and Signal, or obtaining a SIM card by providing false documentation...

RBI Repo Rate: A shock to the public before the festive season, EMI will be expensive, RBI increased repo rate by 50 basis points

Inflation Rate: The Reserve Bank of India (RBI) has increased the repo rate by 50 basis points. This will also make your EMI costlier....

Sugar Production: Now the price of sugar will be lower, the sugar mill going to open next month, know the reason

Excess production of sugar in India: There are signs of a reduction in the price of sugar in the country. The operation of sugar...

Due to a current supply issue, the decision to require 6 airbags in cars was postponed, according to Gadkari. The rule will now take...

The decision to require six airbags in M1 category vehicles with up to eight seats has been postponed by the government by one year....

Actress Neha Malik wreaked havoc in just a top, striking a killer pose while sitting near a swimming pool.

Neha Malik Photo: Bhojpuri actress Neha Malik is constantly criticized for her appearance. The actress has made a name for herself in the Bhojpuri...

Most Popular

Subscribe

* indicates required