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SBI Q4 Net Profit Rises 41% To Rs 9,114 Crore

SBI Q4 Net Profit Rises 41% To Rs 9,114 Crore
Written by Arindam
SBI Q4 Net Profit Rises 41% To Rs 9,114 Crore

SBI Q4 Net Profit Rises 41% To Rs 9,114 Crore

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).

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Arindam

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