Read more about SBI Q3 net profit jumps 62% to Rs 8,432 cr, asset quality improves on Business Standard. Lender posts highest quarterly profit in Q3FY22, sees improvement in interest margins
Country’s largest lender, State Bank of India (SBI), reported a 62.3 per cent year-on-year (YoY) rise in net profit at Rs 8,432 crore in the third quarter ended December 31,2021 on increase in interest margins. This is the highest quarterly net profit reported by the bank. In the year-ago period (Q3FY21), it had posted a net profit of Rs 5,196 crore. Sequentially, profits rose by 10.56 per cent from Rs 7,627 crore in Q2FY22. Net interest Income (NII) of the lender rose by 6.48 per cent YoY in Q3FY22 to Rs 30,687 crore from Rs 28,820 crore the same period last year on back of improvement in credit offtake. Sequentially, it was down 1.
