State Bank of India profits for the first time in three years

State Bank of India (SBI) has registered a 32 percent decline in net profit in the fourth quarter financial (Q4), which broken 31 March this year.

Net income for the bank in the fourth quarter of this year has fallen from last year's remarkable Rs. 27.4 billion to RS 18700000000.

The reason cited behind drop in profits is higher provision for wage revision arrears liquidity overhang and unprofitable assets.

lessen the fears of investors, "said Chairman of SBI, About Prakash Bhatt, however, that despite the low earnings, the bank was able to mobilize resources, make bigger the base of the bank.

"Under both the current quarter that we're conversation about, and the years have passed, if you look at all the routine parameter on the banking side, the Bank has completed very well," he added.

This is the first decline in profits that the bank has had in the past three years.

But SBI ended fiscal year 2009-2010, with a surplus of Rs. 9166 crore. This is higher than Rs.9121 crore profit record by the bank in 2008-2009.

"Our free income has risen by 27 percent. We are becoming increasingly market share in advances. Our cost for the landfill is falling neighborhood after quarter. So all the parameter of the bank, you will discover that not just the bank does it better than it did before , but also makes it better than the industry, "said Bhatt.

In answer to questions about how SBI will make bigger their services, Bhatt said: "We are construction up to the catalysts, so in the coming years, the Bank will be better equipped to exploit, that this economy is on a higher expansion sequence."

Powered by winning his SBI is preparation to make a final bond service worth Rs 200 crore in the first half of the current financial quarter.

Speaking about the conditions for investor in particular in exports, "said Bhatt:" With regard to them, I think that they do not like getting hurt as they did for the depression or slower growth in Western economy, which took place mainly in the U.S. and Europe. This is because a majority of our exports to these area. "