SBI, the country's largest public sector lender has reported its earnings on Friday. Standalone net profit
for the quarter ended March of Fy22 came in at Rs. 9113.53 crore, a 41.2% increase over Rs. 6450.75 crore reported in Q4FY21 period.
Net interest income at the bank during the quarter under review also registered an increase by 15.3% at Rs. 31,198 crore as against Rs. 27,067 crore.
Asset quality at the lender has improved substantially with gross NPA reduced to 3.97% as against 4.5% in the preceding quarter, likewise, net NPAs at the bank has reduced to 1.02% from 1.34% in the December ended quarter.
Provision Coverage Ratio (PCR) as at March 31, 2022 is at 90.20%.
SBI dividend announcement for Fy22
Also, in the exchange filing the bank advised, "that the Central Board of the Bank, at its Meeting held on 13th May,2022, has declared a Dividend of
Rs. 7.10 per equity share (710 %) for the financial year ended 31st March, 2022.The date of payment of Dividend is fixed on 1Oth June, 2022 and the dividend warrants will
be dispatched before the date of payment, which will be payable, in lndia, at par at all branches of State Bank of lndia, irrespective of the amount.
Post the announcement of the results, the stock traded lower by 0.68% at Rs. 459.65 apiece on the NSE at around 2:20 pm. The stock in a month's time has dropped by over 11%.