Indian banks have announced their Q4 financial results during this coronavirus pandemic. The Indian banks both in the public and private sectors have announced mixed numbers. While some of them have got good numbers, others have reported losses.
Let’s check how India’s top banks performed in Q4
India’s biggest bank, SBI has reported a fourfold jump in net profit at Rs 3,580.81 crore compared to Rs 838.40 crore on the year-on-year basis on profit for the fourth quarter. The Gross NPA for the quarter decreased marginally to 6.15 per cent compared to 6.91 per cent in the last quarter. Net Interest Income for SBI for the fourth quarter fell to Rs 22,767 crore from Rs 22,954 crore.
How the market reacted to the Q4 result?
The share price of SBI jumped 5.16 per cent to Rs.197.5 on the BSE post the announcement of Q4 earnings. It was one of the top gainers on the BSE index- Sensex.
The bank said that their exposure to stressed sectors by Coid-19 is less than 4 per cent of the book and that 21.8 per cent of its customers availed the RBI moratorium.