New Delhi: India’s largest lender State Bank of India on Friday reported a 41% up in standalone net profit at Rs 9,114 crore for the fourth quarter ended March 2022. This is helped by decline in bad loans, said by a regulatory filing. The bank had registered a profit of Rs 6,451 crore during January-March period of 2020-21, the details explain.

Total income of the bank during the March quarter increased marginally to Rs 82,613 crore, from Rs 81,327 crore in the same period of the previous fiscal.

On a consolidated basis, the bank reported a 56 per cent increase in net profit at Rs 9,549 crore, compared to Rs 6,126 crore in the fourth quarter of the previous fiscal.

With regard to asset quality, gross non-performing assets (NPAs) of the bank declined to 3.97 per cent of gross advances as on March 31, 2022, as against 4.98 per cent by the same period of 2021.

For the entire financial year 2021-22, the bank reported a 55 per cent rise in standalone profit at Rs 31,676 crore, from Rs 20,410 crore in the previous financial year.

The board has recommended a dividend of Rs 7.10 per share or 710 per cent on the face value for the financial year ended March 31, 2022.