Business

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


SBI’s income from interest on loans rose by 8.6 percent.

Mumbai:

The country’s largest lender, State Bank of India (SBI), said on Friday its fourth-quarter profit rose 41 percent to Rs 9,114 crore on an annual basis.

Income from interest on loans rose by 8.65 per cent, while provisions for bad loans fell by two-thirds to Rs 3,262 crore, the bank said in a stock exchange submission.

The lender’s net profit during the financial year 2021-22 (FY22) grew by 55.19 percent to Rs 31,676 crore.

SBI’s home loan segment, which accounts for nearly 23 percent of its domestic advances, grew by 11.49 percent (JoJ).

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