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Oracle Financial Services Software Q2 net profit up at Rs. 291.85 crores

Oracle Financial Services Software Q2 net profit up at Rs. 291.85 crores

This second quarter September 30, 2016, SBI's net profit dropped to Rs 2538.3 crore, loss of 34.5%, as compared to Rs 3879 crore during the same period a year ago.

"The bank has run high cost liabilities to improve the deposit mix, leading to a drop in cost of domestic deposits to 6.20 per cent as of September 30 from 6.61 per cent as of March 31", the bank said in a filing to BSE. Anything over and above this value was credited to the bank account.

SBI on Friday said it had received deposits worth ₹53,000 crore after the government scrapped ₹500 and ₹1,000 notes. Net NPAs too moved up significantly to 5.46 per cent from 3.08 per cent a year ago.

Trump assures Seoul of continued United States support over Pyongyang threat
Kim's visit comes a matter of days after the news agency reported he inspected a special operations military unit. Moon Jae-in said in his message Trump's win shows the "desire of the American people for change in the future".


SBI's net profit fell to Rs 2,538 crore for the second quarter of FY2017, from Rs 3,879 crore in the corresponding three months of the previous fiscal. It has already incurred capex of Rs 46,000 crore out of the total works in hand of Rs 1.46 lakh crore. "Therefore around 25 per cent will be outside the watchlist", she said.

Net interest income for the bank during the quarter increased by 1.3% to Rs 14,437 crore in Q2 FY17, from Rs 14,253 crore in Q2 FY16. Normally, deposits go up by about Rs8,000 crore per month.

The jump in the bottomline came on the back of a 34.5% year-on-year rise in interest earned from balances maintained with the Reserve Bank of India (RBI) and other inter-bank funds. We have also internally taken the decision about not really increasing our exposure to those areas where peripheral business is not there. Total income of the bank decreased to H12,046.6 crore during the quarter, from H12,300.4 crore in the year-ago period.


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