Q4FY17 Results: State Bank of India

SBI posted its quarterly results today. The numbers were largely positive due improved asset quality.

The bank's NII for the quarter increased by 22 per cent QoQ to Rs 18071 crore in Q4FY17 as compared to Rs14751 crore in Q3FY17. 

This was on account of increase in interest earned by 10% QoQ to Rs.47392 crore.

SBI's GNPAs for the quarter increased by 3.8 per cent QoQ in Q4FY17 to Rs 112342 crore. In percentage terms, GNPAs for the quarter improved to 6.91 per cent as compared to 7.2% in Q3FY17.

The bank increased provisions for the quarter by 33.2 per cent to Rs.11740 crore as against Rs.8942 crore in Q3FY17.

Its net profit for the quarter increased by 7.8 per cent to Rs.2814 crore in Q4FY17 versus Rs.2610 crore in th previous quarter.

State Bank of India opened today at Rs 304 and increased 2.84 per cent after the results and was trading at Rs 311.2 intra-day.

State Bank of India is the largest government-owned banking and financial services company in India. The bank provides banking services to its customers, operating in four business segments, namely, treasury, corporate/wholesale banking, retail banking and other banking business.