Last Updated: August 06, 2022, 14:49 IST
SBI Q1 FY23 Results: India’s largest public sector lender State Bank of India on Saturday reported a drop in net profit by 6.07 per cent at Rs 6,068 crore in Q1 FY23 as against Rs 6,504 crore in Q1 FY22. The Net interest Income, or NII for the quarter under review stood at Rs 31,196, an increase of 12.87 per cent as against Rs 27,638 during the quarter ended June 30, last year.
The bank’s operating profit for the June 2022 quarter stood at Rs 12,753 crore as against Rs 18,975 crores in Q1 FY22, impacted by MTM (mark-to-market) Losses on investment book, said the SBI in an exchange filing. “The MTM hit also had an adverse impact on bank’s ROA and ROE, which stand at 0.48 per cent and 10.09 per cent respectively,” it further said.
Domestic NIM for Q1 FY23 increased by 8 bps YoY to 3.23 per cent from 3.15 per cent during the year-ago quarter.
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