SBI Q1 profit jumps 81% YoY to Rs 4,189 cr, moratorium declines to 9.5%

The provision of Rs 3,008 crore is held by the bank on Covid-19 related accounts as on June 30, 2020

The country’s largest bank, State Bank of India, has posted 36.8 cent rise in profit before tax (PBT) at Rs 5,559.7 crore for the quarter ended June 2020 (Q1FY21) on robust growth in net interest income.

SBI reported standalone net profit of Rs 4,189.34 crore for June quarter of FY21 (Q1FY21) on Friday, supported by a one-time gain from stake sale in SBI Life for Rs 1,539.73 crore. This was 81.18 per cent higher than the Rs 2,312.2 crore net profit reported in the June quarter of FY20. On a quarterly basis, the net profit grew 17 per cent from