Lowest Profit in 5 Years By SBI, Slumps 66%

India largest lender and dreamed to be the 55th largest bank in the world by assets after the [highlight]merging of proposed associates bank[/highlight], State bank of India (SBI) has shown the slumps in 66% profit to Rs 1,263.81 crore in Q4 FY 2015-16.

It is the sharpest drop in profit after 2011 when it was dropped by 99%. SBI has added the NPA (Non performing Assets) in fourth quarter as Rs 30,313 crore. Gross NPA is now 6.5%.

The total deposits of SBI is Rs 17,30,722 crore, while advances is Rs 14,63,700 crore. The bank has announced the dividend of Rs 2.60 per share for the full year.

The date of payment of the dividend is fixed for June 22.