SBI Net Dips 9.9% after a one -off determination for pension obligations

Mumbai: The State Bank of India reported a net profit of 18,643 billion rupees for January marärz district, which a decline of 9.9% compared to paragraphs 20,698 CRore, mainly due to a one-off determination for increased pension connections. The bank had carried out a uniform 50% increase in pensions and adjusted the inflation payments by the neutralization of defenress relief. As a result, the total provisions rose by 57% to 12,643 billion rupees, whereby RS 7,100 crore was assigned for pension adjustment.
The bank has also announced its plans for the inclusion of 25,000 rupees by issuing new shares – its largest capital increase so far and the first major capital increase in over a decade. The board has declared a dividend of 15.9 rupees per share.
Without the pension provision, the quarter showed a stronger performance. The operating profit rose by 8.8% to 31,289 billion rupees, supported by an increase in the non -line result from 39.4% to 24,210 rupees. An important driver was the income of the Ministry of Finance, which doubled almost to 6,870 billion rupees, even if net interest income rose by 2.7%. The bank also reported a significant improvement in wealth quality, whereby gross performance -power value values ​​decreased for the first time to 1.8% below 2% below 2%, while NET -NPAs went back to less than 0.5%.