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State Bank of India (SBI) has recorded a net profit of Rs 838.40 crore in the fourth quarter of 2018-19. Lowering the level of debt or non-executed assets (NPA) level, the bank has profits. SBI gave this information on Friday.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">very positive commentary from SBI management <a href="https://twitter.com/TheOfficialSBI?ref_src=twsrc%5Etfw">@TheOfficialSBI</a> <br>improvement in asset quality is visible <br>Expect improvement in agri portfolio<br>sufficient cushion available with bank to absorb any unforeseen shock<br>will not miss opportunity to grow , capable of managing the risks</p>— Sonia Shenoy (@_soniashenoy) <a href="https://twitter.com/_soniashenoy/status/1126781329624842240?ref_src=twsrc%5Etfw">May 10, 2019</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The bank had a net loss of Rs 7,718.17 crore in the January-March quarter of 2017-18. The bank told the stock market that its earnings in the March quarter this year grew by nearly 11 percent to Rs 75,670.5 crore. In the same period a year ago, the single income was 68,436.06 crores.

In the entire financial year (April-March) 2018-19, the bank's unified net profit stood at Rs. 3,069.07 Crores, while in 2017-18, it had a net loss of Rs. 4,187.41 crores. During this period, the merged income from all SBI companies was Rs. 3.30 lakh crore, which was Rs. 3.01 lakh crore in 2017-18.

During the recent period, it has improved the quality of SBI’s credit. By the end of March 2019, it reduced the bank’s gross NPA to 7.53 percent of the gross loan. At the end of March 2018, the gross NPA of SBI was 10.91 percent. During this period, the net NPA level also dropped to 3.01 percent. It was 5.73 percent a year ago.

SBI went into loss after Vijay Mallya fled the country with humongous debt to the Banks. However such commentary from SBI is commendable.

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