SBI aims to net Rs 1,500 crore profit from domestic treasury operations this fiscal and is set to post “substantial improvement” in gains during the first quarter, a top official has said.
“last fiscal, profit from domestic treasury operations was at Rs 810 crore. We want to double it. last fiscal, profit from equities and mutual fund segments was Rs 597 crore, which we aim to take it to at least Rs 700 crore this fiscal,” SBI deputy managing director and group executive for global markets, P Pradeep Kumar told the news agency.
“Overall, we plan to contribute Rs 1,500 crore to the total profit this fiscal, which is a shade less than double compared to last fiscal,” he added.
The SBI treasury, which is the second largest in the country after lIC’s, chipped in Rs 810 crore to the total profit last fiscal. It was garnered from the sale of investments in domestic segment, besides Rs 288 crore from overseas treasury operations, totaling a full Rs 1,098 crore.