State Bank of India Q3FY22 net profit surges 62% to Rs 8,432cr

State Bank of India (SBI) has posted a net profit of INR 8,432 crores in the third quarter of the fiscal year 2022 (Q3FY22), which is an increase of 62.27% compared to INR 5,196 crores in the same period of the previous fiscal year.

According to the Indian public sector bank, the return on equity (RoE) as of the end of Q3FY22 ending 31 December 2021, is at 14.01%, which is higher by 452 bps year-over-year (YoY).

The net interest income (NII) of the State Bank of India for the reported quarter was INR 30,687 crores in Q3FY22, which is an increase of 6.48%, compared to INR 28,820 crores in Q3FY21.

State Bank of India reported a YoY increase of 8.83% in deposits to INR 38,47,794 crores at the end of 31 December 2021, compared to deposits of INR 35,35,753 crores at the end of 31 December 2020.