SBI's profit before tax (PBT) came in at Rs 6,990.77 crore the quarter, down 36.2 per cent YoY from Rs 10,969.66 crore reported in the corresponding quarter of the previous fiscal. On a quarterly basis, PBT climbed 10.2 per cent from Rs 6,341.45 crore clocked in Q2FY21.
"Excluding the one-off interest income and other income during Q3FY20, the YoY growth in net profit and operating profit for Q3FY21 would be 133.78 per cent and 26.23 per cent, respectively," the bank said in a statement.
Domestic net interest margin (NIM) for the quarter remained stable sequentially at 3.34 per cent.
Loan Book
The PSB's total gross advances increased 6.7 per cent on year to Rs 24.56 trillion, relative to Rs 23.01 trillion. Sequentially, the loan book grew 3 per cent from Rs 23.83 trillion.
Of this, domestic corporate loans stood at Rs 7,88,208 crore (up 2.23 per cent YoY), while retail loans were at Rs 8,31,134 crore (up 15.5 per cent YoY).
Meanwhile, deposits jumped 13.6 per cent YoY to Rs 35.35 trillion, the bank's financial statement shows.
"Credit Cost as at the end of 9MFY21 has declined 85 bps YoY to 0.38 per cent, whereas Cost to Income Ratio has marginally increased from 52.45 per cent in 9MFY20 to 53.25 per cent in 9MFY21," it said in a statement.
Asset quality
"In the absence of the Supreme Court's order, the GNPA and NNPA would have been at 5.44 per cent and 1.81 per cent, respectively," it added.
Provisions
Provision Coverage Ratio (PCR), the bank said, has improved to 90.21 per cent, up 848 bps YoY and 202 bps QoQ.
Fresh slippages during the quarter came in at Rs 237 crore, plunging 98.5 per cent YoY and 91.4 per cent QoQ from Rs 16,525 crore, and Rs 2,756 crore, respectively.
"Slippage ratio as on 31st Dec 2020 at 1.27 per cent (including proforma slippages); collection Efficiency is at 96.5 per cent," the bank said.
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