3 Indian banks make it to top 50 by assets in Asia-Pacific region in 2023
In the list, State Bank of India is at the 20th position, HDFC Bank at 33 and ICICI Bank at 48th spot.
The central government has nominated finance ministry’s special secretary of the department of financial services, Debashish Panda, as a director on the Central Board of State Bank of India.
The SBI made the announcement on Saturday in a bank filing. Das is appointed with immediate effect. He will replace the previous nominee Ravi Mittal, the filing added.
For the September quarter, country’s largest lender had posted a 218 per cent jump in standalone net profit to Rs 3,011.73 crore. The lender had posted a profit of Rs 944.87 crore in the same quarter last year. Under exceptional items, the bank reported a net profit of Rs 3,484.30 core on sale of partial investments in subsidiary SBI Life Insurance Company.
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Fresh slippages had halved to Rs 8,800 crore from Rs 16,000 crore on a quarterly basis.
The asset quality of the bank improved with gross non-performing asset (NPA) ratio coming in at 7.19 per cent, down 276 bps yearly and 34 bps sequentially. Net NPA ratio was at 2.79 per cent, down 205 bps YoY and 28 bps QoQ.
(With input from agencies)
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