State Bank of India (SBI) reported a profit of 41.2 percent to Rs 5,583 crore in the third quarter of FY 2020, although the bank's profit stood at Rs 3,955 crore in the third quarter of FY 2019. SBI's interest income grew by 22.4 percent to Rs 27,779 crore in the third quarter of FY 2020, compared to Rs 22,691 crore in the bank's interest income in the previous quarter.
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Apart from this, SBI's gross NPAs in the third quarter fell from 7.19 percent to 6.94 percent on a quarter-on-quarter basis. On a quarterly basis, SBI's net NPA declined to 2.65 percent from 2.79 percent in the second quarter. At the same time, if you look at it in rupees, then SBI's gross NPA in the third quarter on quarter to quarter basis has been reduced from Rs 1.61 lakh crore to Rs 1.59 lakh crore.
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On a quarterly basis, SBI's net NPAs decreased from Rs 59,939 crore to Rs 58,249 crore in the third quarter. On a quarterly basis, SBI's provisioning declined to Rs 7,253 crore from Rs 13,139 crore in the third quarter, while SBI's provisioning stood at Rs 6,006 crore in the third quarter of last year. The loan growth of the bank has been 7.4% on an annual basis. At the same time, the provision coverage ratio of the bank stood at 81.73 percent as against 81.2 percent on a quarterly basis.
