SBI Q3 standalone net falls 7% to Rs 5,196 cr

Country's largest lender State Bank of India (SBI) posted nearly 7 per cent fall in its standalone net profit at Rs 5,196.22 crore for the third quarter ended December.

The bank had posted net profit of Rs 5,583.36 crore in the October-December period of the previous fiscal.

Total income (standalone) also fell marginally to Rs 75,980.65 crore during Q3FY21, as against Rs 76,797.91 crore in the same period of 2019-20, SBI said in a regulatory filing.

On a consolidated basis, the bank posted a 5.8 fall in net profit at Rs 6,402.16 crore during the quarter under review, as against Rs 6,797.25 crore in the year-ago period.

The bank's asset quality improved substantially as the gross non-performing assets fell to 4.77 per cent of the gross advances as of December 31, 2020 from 6.94 per cent in the corresponding period a year ago.