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Government-owned State Bank of India (SBI) on Wednesday reported its highest quarterly net profit of Rs 6,504 crore in the April to June quarter, marking an increase of 55 per cent in the year-ago period.Operating profit increased by 5 per cent to Rs 18,975 crore in Q1 FY22 from Rs 18,061 crore in Q1FY21. Net interest income increased by 3.7 per cent year-on-year.On the other hand, non-interest income at Rs11,803 crore grew by 24 per cent, said the country's largest lender in a statement.Total deposits grew at 8.82 per cent to reach Rs 37.2 lakh crore in Q1 FY22 from Rs 34.2 lakh crore in Q1 FY21. While current account deposits grew by 11.75 per cent, saving bank deposits grew by 10.55 per cent.Domestic credit growth stood at 5.64 per cent, mainly driven by retail customers. Home loans, which constitute 23 per cent of the bank's domestic advances, moved up by 11 per cent.SBI said net NPA ratio stood at 1.77 per cent, down by 9 basis points. Gross NPA ratio came at 5.32 per cent, down 12 basis points.The slippage ratio for Q1 FY22 is at 2.47 per cent from 0.6 per cent as at the end of Q1 FY21. Credit cost declined 77 basis points year-on-year to 0.79 per cent.Cost to income ratio declined from 54.5 per cent in Q4 FY21 to 51.89 per cent in Q1 FY22 but increased by 187 basis points year-on-year, said SBI.Capital adequacy ratio improved by 26 basis points to 13.66 per cent as on June 2021. Return on assets increased by 15 basis points to 0.57 per cent in Q1 FY22 against 0.42 per cent in Q1 FY21.Return on equity increased by 357 basis points to 12.12 per cent against 8.55 per cent in the same period.At 2:15 pm, SBI stock was trading 3.6 per cent higher on NSE India at Rs 462.55 per unit.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Government-owned State Bank of India (SBI) on Wednesday reported its highest quarterly net profit of Rs 6,504 crore in the April to June quarter, marking an increase of 55 per cent in the year-ago period. ...