SBI reports net profit of Rs 5,196 crore in December

New Delhi: State Bank of India, an Indian multinational, public sector banking reported a net profit of Rs 5,196 crore in the December quarter, earlier in the same quarter of the previous year drop 7 percent from Rs 5,583 crore.

The Bank was expected to post a net profit of Rs 4,850 crore in the three months to December 2020, lower than Rs 5,583.36 crore in the same period last year, according to an average of estimates by 15 analysts polled by Bloomberg.

SBI mentioned, "Pending the disposal of the case, the bank has made a provision of Rs 5,265 crore as at December 31, 2020, in respect of these accounts (including unrealized interest) as a matter of prudence."