State Bank of India net profit up 45.62 percent

May 9th, 2009 - 8:53 pm ICT by IANS  

State Bank of India Mumbai, May 9 (IANS) The country’s largest lender State Bank of India (SBI) Saturday reported a 45.62 percent rise in its net profit for the quarter ended March 31.
The bank said in a regulatory statement that its fourth quarter profit stood at Rs.2,742.31 crore, up from Rs.1,883.25 crore in the like period last year.

SBI’s total income in January-March increased 34.57 percent to Rs.22,060.61 crore from Rs.16,393.93 crore a year ago.

The bank, which accounts for about 25 percent of all loans and deposits in the country, declared a 290 percent dividend at Rs.29 per share for fiscal 2008-09 that ended March 31.

SBI’s net profit increased 36 percent to Rs.9,121.2 crore last fiscal, compared to Rs.6,729.1 crore the previous year.

Total income for the fiscal rose 33 percent to Rs.76,479.2 crore from the previous year’s Rs.57,645.2 crore.

Consolidated net profit was at Rs.10,955.2 crore, a 22 percent increase from Rs.8,960.6 crore in 2007-08.

The group’s consolidated net income crossed the trillion rupee mark to Rs.113,093 crore (Rs.1.1 trillion) in 2008-09, 25 percent up from the previous fiscal’s Rs.90,218.8 crore.

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