SBI Q4 Results 2020: On account of year on year credit growth of 5.64 per cent, home loan business growth to the tune of 13.86 per cent, Non-Interest Income for FY20 going up by 22.97 per cent, total deposits growth of 11.34 per cent and operating profit growing by 22.90 per cent, the State Bank of India (SBI) has reported highest ever yearly Net Profit in FY20 at Rs 14,488 Crore, which stood at Rs 862 Crores in FY19. The largest Indian commercial bank reported 327 per cent increase in quarter on quarter (QoQ) net profit as well.

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Informing about the SBI Q4 REsults 2020 the State Bank of India said, "Bank registered a Net Profit of Rs.3581 Crores in Q4FY20, an increase of 327 per cent over Q4FY19. For the full year FY20, Net Profit stood at Rs. 14,488 Cr against Net Profit of Rs 862 Crores in FY19. This is also the Highest ever Yearly Net Profit recorded by the Bank."

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Informing about the important numbers that helped SBI achieve this highest ever yearly net profit, SBI said, "Operating Profit Increased to Rs 68,133 Crores in FY20 from Rs. 55,436 Crores in FY19, an increase of 22.90% YoY. Net Interest Income of the Bank grew by 11.02% YoY during FY20. Domestic Net Interest Margin (NIM) improved to 3.19% in FY20, registering an increase of 24 bps YoY. Non-Interest Income for FY20 at Rs. 45,221 Cr is up by 22.97% YoY." SBI went on to add that its Total Deposits grew at 11.34% YoY, out of which, Current Account Deposit grewby7.56% YoY, while Saving Bank Deposits grew by 9.99% YoY.

Giving details about the home loan business on a year on year basis the SBI statement said, "Home loans, which constitute 22% of Bank’s domestic advances, has grown by 13.86% YoY." 

On the Non Performing Asset (NPA) of the bank, SBI said, "Net NPA ratio at 2.23% is down 78 bps YoY and 42 bps QoQ.Gross NPA ratio at 6.15%is down 138 bps YoY and 79 bps QoQ."