SBI Chairman Dinesh Kumar Khara told reporters that both the numbers are the highest-ever for the bank and this was driven by a record improvement in the asset quality with gross bad loan piles falling to a decadal low of 2.24%, down 54 bps from 2.78% last year, while net NPA printed in at 0.57% compared to 0.67% last year.
He also said the net income for the quarter would have been higher by Rs 7,100 crore had it not been for the additional provision it has made towards pension liabilities after the new wage pact came into force, towards which it had already provided for nearly Rs 13,500 crore.
Earnings call
SBI topples Reliance Industries to become the most profitable co with Rs 20,698 cr in Q4, up 24%
Reliance net income in Q4 declined to Rs 18,951 cr from Rs 19,299 cr a year ago
But Reliance still leads in annual profit with Rs 69,621 cr, vs SBI’s Rs 61,077 cr which grew 21.6%.
Third profitable co TCS Q4 net income is pale Rs 12,434 cr up 9%
SBI bad loan ratio at 2.24 is the lowest in 10 years