SBI s net profit increased 59 per cent to Rs 50,232.45 crore

State Bank of India (SBI) on Friday paid a dividend of Rs 5,740 crore for the financial year 2022-23 to Finance Minister Nirmala Sitharaman.

The dividend cheque was presented by SBI chairman Dinesh Kumar Khara in the presence of Financial Services Secretary Vivek Joshi.

"Smt @nsitharaman receives a dividend cheque of Rs 5,740 crore for FY 2022-23, which is the highest-ever dividend given by State Bank of India to Govt of India for a financial year, from Shri Dinesh Kumar Khara, Chairman -@TheOfficialSBI. Secretary – @DFS_India Shri Vivek Joshi is also present on the occasion," the finance minister's office said in a tweet. SBI had declared a dividend of Rs 11.30 per equity share (1,130 per cent) for the financial year ended March 31, 2023.

For the full 2022-23, SBI's net profit increased 59 per cent to Rs 50,232.45 crore. The profit in the 2021-22 fiscal was Rs 31,675.98 crore.