"We propose to approach Moody's for re-assessment and re-rating of credit rating of SBI," SBI Chairman Pratip Chaudhuri told reporters here today.
Last October, Moody's downgraded SBI's credit rating citing deteriorating asset quality and capital position.
"Moody's had downgraded a particular instrument of SBI," he said.
With the improvement in asset quality and healthy capital situation at the moment, he said the bank would approach the agency for a reassessment.
Earlier in the day, SBI posted net profit of Rs 4,050.27 crore in the fourth quarter ended March 2012, against just Rs 20.88 crore recorded in Q4 of the previous fiscal.
Total income of the bank rose to Rs 33,959.54 crore in the quarter against Rs 26,536.84 crore in the same quarter a year ago, SBI said in a filing on the BSE.
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The SBI Board has proposed a dividend of 350 per cent or Rs 35 per share on the face value of Rs 10 for 2011-12.
For the entire fiscal ended March 2012, the net profit of the bank rose by 41.6 per cent at Rs 11,707.29 crore as compared to Rs 8264.52 crore an year ago.
Total income of the bank during the year rose Rs 1,20,872.90 crore against Rs 97,218.96 crore in the previous fiscal.