SBI standalone Q2 net up 52% to Rs 4,574 cr on rise in net interest income

Dip in bad loan provisions support better quarterly show; NPAs decline

Despite subdued credit offtake, the country’s largest lender State Bank of India (SBI) posted a 51.88 per cent growth in net profit for the second quarter ended September 2020 (Q2FY21).  Its profit after tax, on a standalone basis, rose to Rs 4,574 crore in Q2FY21 from Rs 3,012 crore in Q2FY20 on the back of a steady rise in net interest income and a dip in provisions for bad loans. Net profit for Q1FY21 was Rs 4,189 crore.

However, the lender flagged the risk of a rise in stress, especially in the loans to agriculture and small and medium size enterprises,