<p>The country's biggest bank SBI on Friday posted over two-fold jump in standalone net profit at Rs 16,884 crore for the first quarter of the current financial year, helped by decline in bad loans and improvement in interest income.</p>.<p>State Bank of India (SBI) had reported a net profit of Rs 6,068 crore in the April-June quarter of 2022-23.</p>.<p>The bank's total income increased to Rs 1,08,039 crore in the first quarter of 2023-24, as against Rs 74,989 crore in the same period a year ago, as per the regulatory filing.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/national/majority-of-indians-turn-to-physical-bank-branches-to-resolve-issues-survey-1242622.html">Majority of Indians turn to physical bank branches to resolve issues: Survey</a></strong></p>.<p>During the quarter, the bank earned interest income of Rs 95,975 crore, as against Rs 72,676 crore in the same period a year ago.</p>.<p>The bank's gross non-performing assets (NPA) of the total advances fell to 2.76 per cent at June-end from 3.91 per cent a year ago.</p>.<p>Similarly, net NPAs also eased to 0.71 per cent in June 2023, as against 1 per cent a year ago.</p>.<p>On a consolidated basis, SBI's net profit also rose over two-fold to Rs 18,537 crore, as against Rs 7,325 crore in the same quarter a year ago.</p>.<p>The total income increased to Rs 1,32,333 crore in the quarter under review, as compared to Rs 94,524 crore in the first quarter of the previous fiscal.</p>.<p>During the quarter, the bank infused Rs 489.67 crore in its non-life insurance venture SBI General Insurance, it said, adding Rs 82.16 crore was infused in eight Regional Rural Banks (RRBs).</p>
<p>The country's biggest bank SBI on Friday posted over two-fold jump in standalone net profit at Rs 16,884 crore for the first quarter of the current financial year, helped by decline in bad loans and improvement in interest income.</p>.<p>State Bank of India (SBI) had reported a net profit of Rs 6,068 crore in the April-June quarter of 2022-23.</p>.<p>The bank's total income increased to Rs 1,08,039 crore in the first quarter of 2023-24, as against Rs 74,989 crore in the same period a year ago, as per the regulatory filing.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/national/majority-of-indians-turn-to-physical-bank-branches-to-resolve-issues-survey-1242622.html">Majority of Indians turn to physical bank branches to resolve issues: Survey</a></strong></p>.<p>During the quarter, the bank earned interest income of Rs 95,975 crore, as against Rs 72,676 crore in the same period a year ago.</p>.<p>The bank's gross non-performing assets (NPA) of the total advances fell to 2.76 per cent at June-end from 3.91 per cent a year ago.</p>.<p>Similarly, net NPAs also eased to 0.71 per cent in June 2023, as against 1 per cent a year ago.</p>.<p>On a consolidated basis, SBI's net profit also rose over two-fold to Rs 18,537 crore, as against Rs 7,325 crore in the same quarter a year ago.</p>.<p>The total income increased to Rs 1,32,333 crore in the quarter under review, as compared to Rs 94,524 crore in the first quarter of the previous fiscal.</p>.<p>During the quarter, the bank infused Rs 489.67 crore in its non-life insurance venture SBI General Insurance, it said, adding Rs 82.16 crore was infused in eight Regional Rural Banks (RRBs).</p>