SBI reports Rs 3,742 cr net profit, NPAs fall

State Bank of India (SBI) on Friday reported a 23.06 per cent rise in its Q4 profit. The bank reported a standalone net profit of Rs 3,742 crore in the fourth quarter against Rs 3,041 crore in the quarter ended March 2014.

The bank has recommended dividend of Rs 3.5 per share.

Its net non-performing assets (NPAs) fell to 2.12 per cent in Q4 from 2.80 per cent in the quarter ended December 2014.

Operating profit increased to Rs 12,409 crore in Q4 against Rs 10,628 crore for the corresponding period of 2014-15 fiscal.

Interest income rose from Rs 35,858 crore in Q4 FY14 to Rs.40,100 crore in Q4 FY15 (11.83% growth).

Operating expenses rose from Rs 8,861 crore in Q4 FY14 to Rs 10,818 crore in Q4FY15 (22.09% growth). The SBI stock was trading 2 per cent higher on the BSE.