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State Bank of India net profit rises marginally to Rs 3,241 cr

India TV Business Desk 08 Aug 2014, 14:47:50 PM IST
India TV Business Desk
New Delhi: India's largest lender State Bank of India (SBI) on Friday reported net profit of Rs 3,349 crore for the June quarter, up 3.34 per cent from Rs 3,241 crore recorded in the corresponding quarter a year ago.

The bank's net interest income (NII), the difference between what it earned from lending and what it paid on deposits, rose 15 per cent at Rs.13,252 crore, as compared to Rs 11,512 crore registered in the June quarter last year.

Total income stood at Rs.40,739 crore, up from Rs.36,193 crore last year. Other income dropped to Rs.4,252 crore from Rs 4,474 crore a year ago.

Provisions for bad loans rose 72 per cent year-on-year to Rs.3,903 crore in the quarter from Rs.2,266 crore in the same period last year.

Gross non-performing assets (NPAs) for the state-owned bank were steady at 4.9% of its total advances, compared with 4.95% in the quarter ended March.

Loan book of the bank grew 13% on an yearly basis and its deposits grew 12.8%.