State Bank of India (SBI) is the largest bank in India, has reported a net profit of Rs 6451 crore for the quarter ended March 31, 2021, a big jump from Rs 3,581 crore in the year-earlier quarter the Central Board of the Bank, has also declared a Dividend of Rs. 4.00 per equity share (400 per cent) for the financial year ended 31st March,2021. The date of payment of the Dividend is fixed on 18th June, 2021, the bank said.

According to a Bloomberg estimate of 10 analysts, the public sector lender was expected to report a profit of Rs 6,166.2 crore in the three months to March, up from Rs 3,580.8 crore in the same period last year.

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SBI’s asset quality improved in the reported period, with its gross non-performing asset ratio at 4.98 per cent as on March 31, 2021 compared with 5.44 per cent as of December. Its net NPA ratio, too, improved 31 basis points sequentially to 1.5 per cent. Total bad loan provisions fell to Rs 9,914 crore, down 16.6 per cent year-on-year. Shares of SBI were trading 1.3 per cent higher after the results were announced, compared with a 1.