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Govt nominates Debashish Panda on SBI central board
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SME Times News Bureau | 25 Jan, 2020
The State Bank of India (SBI) on Saturday said the Central government
has nominated Debashish Panda, Special Secretary, Department of
Financial Services, Finance Ministry as a director on the Central Board
of SBI.
He is appointed with immediate effect replacing the earlier nominee Ravi Mittal, according to a bank filing.
SBI,
the country's largest bank had posted a 218 per cent jump in standalone
net profit for the September quarter 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.
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.
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Customs Exchange Rates |
Currency |
Import |
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US Dollar
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Euro
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Japanese
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