State Bank of India (SBI), the country's largest lender, has posted a net profit of Rs.9,121 crore for 2008-09 as against Rs.6,729 crore the year before, a rise of 35.5 percent.
"Net profit for the fourth quarter (January-March) of 2008-09 increased 45.62 percent to Rs.2,742 crore from Rs.1,883 crore in the corresponding quarter of 2007-08," SBI chairman O.P. Bhatt told reporters here.
The net non-performing asset (NPA) ratio for 2008-09 stood at 1.76 percent, compared to 1.78 percent in 2007-08. The total amount restructured during the year was Rs.8,310 crore.
The capital adequacy ratio of the bank is above 14 percent, he said.
The net interest margin (NIM) was at 2.93 percent as on March 31, 2009, compared to 3.07 percent in March 2008.
SBI's total income for the fiscal rose 33 percent to Rs.76,479.2 crore from the previous year's Rs.57,645.2 crore.
Consolidated net profit was at Rs.10,955.2 crore, a 22 percent increase from Rs.8,960.6 crore in 2007-08.
The group's consolidated net income crossed the trillion rupee mark to Rs.113,093 crore (Rs.1.1 trillion) in 2008-09, 25 percent up from the previous fiscal's Rs.90,218.8 crore.
Asked about the impact of the economic downturn, Bhatt said: "The worst is over for the economy. Auto and housing loans have started picking up already."
On the overseas operations of the bank, he said SBI would concentrate on "consolidating the existing business network". The bank is already present in 33 countries.
SBI has plans to increase its Singapore operations from the present five branches to 12 this year and to 20 next fiscal.
Asked about its plans of starting general insurance business, Bhatt said: "We hope to start it anytime within this calendar year or latest by this fiscal end. We are yet to receive some final approvals."