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SBI Q2 net up 30% to Rs3,658 crore

Friday, 9 November 2012 - 2:10pm IST | Place: Mumbai | Agency: PTI
Bank's gross non-performing assets ratio jumped to 5.15% from the year-ago period of 4.19%

State Bank of India on Friday posted a 30.16% jump in net profit at Rs3,658.14 crore during the second quarter of current fiscal.

The bank had registered a net profit of Rs2,810.43 crore in the corresponding July-September period of last year.

The bank, however, showed signs of stress on asset quality as the gross non-performing assets ratio jumped to 5.15% from the year-ago period of 4.19%.

In absolute terms, the gross non-performing assets stood at Rs49,202.46 crore, SBI said in a filing to the BSE.

The bank's core net interest income rose 4.69% to Rs10,974 crore during the reporting quarter, while the total income rose to Rs32,953.47 crore from Rs29,394,32 crore in the year-ago period, the statement said.

Its net interest margin during the quarter stood almost flat at 3.77% for domestic operations, it said in a press statement.

SBI's total capital adequacy stood at 12.63% with the core tier-I at 8.97%.

The bank scrip was trading 3.90% down at Rs2,156 apiece on the BSE at 1315 hours, with the broader Sensex being 0.76% down.




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