State Bank of India (SBI), the biggest open segment loan specialist in India, on Friday noted a 66.32% year-on-year dropped in net benefit at Rs 1,260 crore for the March quarter on account of higher-than-anticipated provisioning for awful assets.

The loan specialist had noted a net benefit of Rs 3,742 crore in the relating quarter a year prior. In an ET Now survey, analysts had assessed the bank to report a net benefit of Rs 1,840 crore.

This is the national loan distinct most honed fall in net benefit since March 2011, when it dropped 99 Percent.

Procurements for the quarter remained at Rs 13,174 crore, of which Rs 12,138 crore was kept aside for non-performing assets ( this incorporates Rs 543 crore procurement on loans given against vanishing sustenance grains in Punjab).

Slippages for the quarter remained at Rs 30,313 crore contrasted and Rs 20,692 crore in the December quarter. Gross NPAs hopped to 6.5% of the gross advances from 5.1% in the December quarter and 4.25 % in the year-back quarter.​

NII, the variation between the interest pay a bank earns from its loaning activities and the premium it pays to depositors, remained at Rs 15,291 crore, gain 3.9 % for the March quarter.

This was upper that the evaluation of Rs 13,960 crore made in an ET Now survey. The total deposits of SBI increased to 9.7% to Rs 17,30,722 crore, while progresses increased 12.5% to Rs 14,63,700 crore. The bank has announced a dividend of Rs 2.60% Stock for the entire year.