Small BusinessSBI Q3 net down 8.4% to Rs 3,305 cr
The country"s largest lender, State Bank of India (SBI), reported a 8.40 per cent decline in its consolidated net profit at Rs 3,304.59 crore for the third quarter ended December 31, 2009.
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The bank had a net profit of Rs 3,607.61 crore in the corresponding quarter a year-ago period, the bank said in a filing to the Bombay Stock Exchange (BSE).
Total income grew by 9.75 per cent to Rs 32,231.45 crore in the third quarter from Rs 29,368.14 crore in the corresponding period a year ago.
SBI Chairman O P Bhatt said: "The banks" global credit growth at 19 per cent and that of domestic at 17 per cent. The surplus liquidity remains a concern, touching Rs 75,000 crore on average during the quarter yielding just 4.77 per cent."
The bank declared an interim dividend of Rs 10 per equity share of Rs 10 each (100 per cent dividend).
The bank"s stocks closed at Rs 2,093.35, up marginally on the BSE today.