The country’s largest lender State Bank of India (SBI) reported an 80.15 per cent jump in its standalone profit after tax (PAT) of Rs 6,451 crore in the three months to March 2021, aided by higher interest income and lower provisioning for bad loans.
The lender had posted a profit after tax of Rs 3,581 crore in the same quarter of FY20. For the full year, its standalone PAT grew by 41 per cent to Rs 20,410 crore as against Rs 14,488 crore in FY20. “We have further consolidated our performance in the previous quarter (Q4 FY21) both in terms of profitability and asset quality.
We have been able to deliver consistent improvement in all the areas of profitability despite the disruptions caused by the pandemic,” its chairman Dinesh Khara told reporters.