State Bank of India Q3 standalone web revenue falls 7% to Rs 5,196 crore

Country’s largest lender State Bank of India (SBI) on Thursday posted almost 7 per cent fall in its standalone web revenue at Rs 5,196.22 crore for the third quarter ended December.
The financial institution had posted web revenue of Rs 5,583.36 crore within the October-December interval of the earlier fiscal.
Total revenue (standalone) additionally fell marginally to Rs 75,980.65 crore throughout Q3FY21, as towards Rs 76,797.91 crore in the identical interval of 2019-20, SBI stated in a regulatory submitting.
On a consolidated foundation, the financial institution posted a 5.8 fall in web revenue at Rs 6,402.16 crore in the course of the quarter beneath overview, as towards Rs 6,797.25 crore within the year-ago interval.
The financial institution’s asset high quality improved considerably because the gross non-performing property fell to 4.77 per cent of the gross advances as of December 31, 2020 from 6.94 per cent within the corresponding interval a yr in the past.
In worth phrases, the gross NPAs or dangerous loans stood at Rs 1,17,244.23 crore, as towards Rs 1,59,661.19 crore.
Likewise, the online NPAs had been down 1.23 per cent at Rs 29,031.72 crore, as towards 2.65 per cent (at Rs 58,248.61 crore).
Provisions for dangerous loans and contingencies for the quarter spiked to Rs 10,342.39 crore, from Rs 7,252.90 crore a yr earlier.
The shares of SBI had been buying and selling 2.02 per cent up at Rs 342.65 apiece on BSE.