State Bank of India (SBI) has an important message for its customers who use SBI, YONO and YONO Lite online banking services. In a tweet, SBI said: “We ask our valued customers to support us in upgrading our online banking platform to provide a better online banking experience.”
MESSAGE FROM SBI
We ask our valued customers to stay with us as we upgrade our online banking platform to provide a better online banking experience.#SBI #National Bank of India #Important Notice #Internet banking services #SBI online pic.twitter.com/pYfiC3RJQl
– State Bank of India (@TheOfficialSBI) November 7, 2020
Earlier on Wednesday, the State Bank of India (SBI) announced a 51.88% increase in its stand-alone net profit for the second quarter of fiscal 21 year-on-year. As a result, the lender’s net profit increased to Rs 4,574 crore from Rs 3,012 crore reported for the corresponding period of the previous fiscal year. In addition, net interest income (NII) rose to Rs 28,181 crore at T2FY21 from Rs 24,600 crore at T2FY20, an increase of 14.56% year-on-year.
“The bank achieved a strong performance in the second quarter of FY21 with an overall improvement in” profitability, capital adequacy and provision coverage ratio, including an additional provision over minimum regulatory requirements “the SBI said in a statement.
However, the bank’s non-interest income (excluding one-off items) remained stable at Rs 8,528 crore compared to Rs 8,538 crore earned during T2FY20.
In addition, the lender’s credit growth stood at 6.02% yoy, mainly driven by ‘Retail (Personal) Advances (14.55% yoy), Agri Advances (4.19% year-on-year) and corporate advances (2.82% year-on-year) “.
âWith the year-over-year growth of ‘corporate bonds or CPs’ at Rs.54,980 crore, the loan portfolio grew 7.97% year-on-year,â he said. âThe 1.59% net NPA ratio is down 120 bps year-on-year and 27 bps in QoQ. The gross NPA ratio at 5.28% is down 191 bps year-on-year and 16 bps in QoQ. “
In the accompanying notes, the bank said: âWithout the Supreme Court’s interim order of September 3, 2020, the GNPA and NNPA would have been 5.88% and 2.08% respectively.