SBI’s income from interest on loans rose 8.6 per cent.
Mumbai:
The country’s biggest lender, State Bank of India (SBI), on Friday said its fourth-quarter profit surged 41 per cent to Rs 9,114 crore on a yearly basis.
Income from interest on loans rose 8.65 per cent, while provisions for bad loans fell by two-thirds to Rs 3,262 crore, the bank said in a filing to exchanges.
The lender’s net profit during the financial year 2021-22 (FY22) grew by 55.19 per cent to Rs 31,676 crore.
SBI’s home loan segment, which constitutes nearly 23 per cent of its domestic advances, has grown by 11.49 per cent (YoY).
