SBI Q2 profit slumps 40% YoY , asset quality improves

Country’s largest lender by assets State Bank of India (SBI) on Monday posted a 40.26 per cent year-on-year fall in standalone profit at Rs 944.87 crore for the quarter ended September 30. It had posted a net profit of Rs 1,581.55 crore in the corresponding quarter last year.



Analysts in an ET NOW poll had estimated a loss of Rs 704 crore.



Asset quality of the lender improved with a percentage of gross non-performing assets (GNPA) decreased to 9.95 per cent in Q2FY19 over 10.69 per cent in the preceding quarter ended June 2018. Percentage of gross NPA also improved to 4.84 per cent from 5.29 per cent in the same period.




Net interest income of the lender increased 12.48 per cent to Rs 20,905.69 crore in Q2FY19 over Rs 18,586.90 crore in the same period last year.
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