In the reviewed quarter, the bank had strong growth in terms of advances and deposits year-on-year, while a sharp decline has been seen in gross non-performing assets (NPA). Interest margins expanded further annually.
"Operating profit has shown a growth of 16.27 per cent on a year-on-year basis to Rs 2,108 crore for the fourth quarter of FY23 (Q4FY23) as against Rs 1,813 crore for the fourth quarter in FY22 (Q4FY22)," the bank said in a statement shared with exchanges.
The company said its operating profit in the reviewed quarter jumped 50.1 per cent to Rs 8,232 crore, against Rs 5,483 crore in the corresponding period a year ago.
The company also reported its profit before tax for the nine-months ended December 31, 2022, stood at Rs 14,616 crore compared to Rs 12,624 crore in the corresponding period of the previous year. After providing Rs 2,802 crore for tax, the reported profit after tax stood at Rs 11,814 crore,
The Bank's interest income went up 13 per cent to Rs 5,231 crore, against Rs 4,624 crore in the year-ago period. Non-interest income decline 25 per cent to Rs 857 crore against Rs 1,138 crore in the year-ago period.
The Bank also said consolidated advances grew 19.2 per cent to Rs 1,563,799 crore during the third quarter of 2022-23, against Rs 1,312,142 crore as on December 31, 2021. The bank shared the statement with exchanges on Saturday.
In the lender's statement, SBI said its net interest income grew 12.8 per cent to Rs 35,183 crore. Home loan portfolio grew 14 per cent to Rs 5.94 lakh crore and accounted for more than half its retail portfolio of Rs 10.7 lakh crore. It also said corporate loans surged 21 per cent year on y
The MFI's total income rose 31 per cent year-on-year to Rs 814.3 crore from Rs 618.6 crore in the corresponding quarter the previous year. Its net interest income increased 39.9 per cent to Rs 516.2 crore from Rs 368.9 crore in the year-ago period. However, impairment of financial instrument
The Mumbai-headquartered bank has posted 9 per cent growth in its total revenue to Rs 1,648 crore. Net interest income (NII) grew 16 per cent year-on-year to Rs 1,064 crore while net interest margin (NIM) was at 4.55 per cent.