SBI logs 4% rise in Q3 net to Rs 3,396 cr as bad loans weigh
The bank’s net advances book grew 15.6% y-o-y to Rs 9.78 lakh crore. The growth was led by large corporate advances which showed a 25.78% growth to Rs 1.56 lakh crore, agriculture advances that grew 24.25% y-o-y to Rs 1 lakh crore, and retail advances which saw a 13.98% growth to Rs 1.99 lakh crore. The mid-corporate segment advances grew 6.95% y-o-y to Rs 1.78 lakh crore, while small and medium enterprise (SME) advances grew 11.35% to Rs 1.7 lakh crore.
The deposits book also grew at 15.6% y-o-y to Rs 11.6 lakh crore. Savings bank deposits grew 11.7% on a yearly basis to Rs 4.1 lakh crore. Chaudhuri said that he expects to end the financial year with an 18% growth in loans and 14% deposit growth.
During the quarter, SBI’s capital adequacy ratio declined to 12.21% compared with 12.63% in the previous quarter.
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