State Bank of India Results

Q2FY25 Quarterly Result Announced for State Bank of India

State Bank of India announced Q2FY25 results Profitability: Net Profit for Q2FY25 stands at Rs 18,331 crore registering a growth of 27.92% YoY. Operating Profit for Q2FY25 grew by 50.87% YoY to Rs 29,294 crore. Bank’s ROA and ROE for the half year stand at 1.13% and 21.78% respectively. ROA at 1.17% for the quarter increased by 16 bps YoY. Net Interest Income (NII) for Q2FY25 increased by 5.37% YoY. Whole Bank and Domestic NIM for the half year stand at 3.18% and 3.31% respectively. Whole Bank NIM for Q2FY25 is at 3.14% and Domestic NIM is at 3.27%. Balance Sheet: Credit growth at 14.93% YoY with Domestic Advances growing by 15.55% YoY. Foreign Offices’ Advances grew by 11.56% YoY. Domestic Advances growth is driven by Corporate Advances (18.35% YoY) followed by Agri Advances which grew by 17.67% YoY. SME and Retail Personal Advances loans registered YoY growth of 17.36% and 12.32% respectively. Whole Bank Deposits grew at 9.13% YoY, out of which CASA Deposit grew by 4.24% YoY. CASA ratio stands at 40.03% as on 30th September 24. Asset Quality: Gross NPA ratio at 2.13% improved by 42 bps YoY. Net NPA ratio at 0.53% improved by 11 bps YoY. PCR (incl. AUCA) improved by 28 bps YoY and stands at 92.21%. Provision Coverage Ratio (PCR) at 75.66% improved by 21 bps YoY. Slippage Ratio for H1FY25 improved by 2 bps YoY and stands at 0.68%. Slippage Ratio for Q2FY25 increased by 5 bps YoY and stands at 0.51%. Credit Cost for Q2FY25 stands at 0.38% Capital Adequacy: Capital Adequacy Ratio (CAR) as at the end of Q2FY25 stands at 13.76%. Alternate Channels: 61% of SB accounts acquired digitally through YONO. Share of Alternate Channels in total transactions increased from ~97.7% in H1FY24 to ~98.2% in H1FY25.

Q1FY25 Quarterly Result Announced for State Bank of India

State Bank of India announced Q1FY25 results: Profitability: Net Profit for Q1FY25 stands at Rs 17,035 crore witnessing a growth of 0.89% YoY. Operating Profit for Q1FY25 grew by 4.55% YoY to Rs 26,449 crore. Bank’s ROA and ROE for Q1FY25 stand at 1.10% and 20.98% respectively. Net Interest Income (NII) for Q1FY25 increased by 5.71% YoY. Whole Bank NIM for Q1FY25 is at 3.22% and Domestic NIM is at 3.35%. Balance Sheet: Credit growth is at 15.39% YoY with Domestic Advances growing by 15.55% YoY. Foreign Offices’ Advances grew by 14.41% YoY. Domestic Advances growth is driven by SME Advances (19.87% YoY) followed by Agri Advances which grew by 17.06% YoY. Retail Personal Advances and Corporate loans registered YoY growth of 13.60% and 15.92% respectively. Whole Bank Deposits grew at 8.18% YoY, out of which CASA Deposit grew by 2.59% YoY. CASA ratio stands at 40.70% as on 30thJune 24. Asset Quality: Gross NPA ratio at 2.21% improved by 55 bps YoY. Net NPA ratio at 0.57% improved by 14 bps YoY. PCR (with AUCA) stands at 91.76% with Provision Coverage Ratio (PCR) being at 74.41%. Slippage Ratio for Q1FY25 improved by 10 bps YoY and stands at 0.84%. Credit Cost for Q1FY25 stands at 0.48%. Capital Adequacy: Capital Adequacy Ratio (CAR) as at the end of Q1FY25 stands at 13.86%. Alternate Channels: Share of Alternate Channels in total transactions increased from ~97.5% in Q1FY24 to ~98.2% in Q1FY25.

Q4FY24 Quarterly & FY24 Annual Result Announced for State Bank of India

State Bank of India announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Net Profit for Q4FY24 grew by 23.98% to Rs 20,698 crore. Operating Profit for Q4FY24 grew by 16.76% YoY to Rs 28,748 crore. ROA at 1.36% for Q4FY24 improved by 13 bps YoY. Whole Bank NIM for FY24 is marginally down by 9 bps YoY to 3.28%. Credit growth is at 15.24% YoY with Domestic Advances growing by 16.26% YoY. Corporate Advances and Agri Advances cross Rs 11 lakh crore and 3 lakh crore respectively. Foreign Offices’ Advances grew by 9.47% YoY. Domestic Advances growth driven by SME Advances (20.53% YoY) followed by Agri Advances which grew by 17.92% YoY. Retail Personal Advances and Corporate loans registered YoY growth of 14.68% and 16.17% respectively. FY24 Financial Highlights: Net Profit for FY24 stands at Rs 61,077 crore, witnessing a growth of 21.59% YoY after accounting for wage settlement and one-time exceptional item of Rs 7,100 crore. Operating Profit for FY24 grew by 12.05% YoY to Rs 93,797 crore. Bank’s ROA for FY24 stands at 1.04%. Net Interest Income (NII) for FY24 increased by 10.38% YoY. Whole Bank Deposits grew at 11.13% YoY, out of which CASA Deposit grew by 4.25% YoY. CASA ratio stands at 41.11% as on 31st March 24. Slippage Ratio for FY24 improved by 3 bps YoY and stands at 0.62%. Credit Cost for FY24 improved by 3 bps YoY and stands at 0.29%. Capital Adequacy Ratio (CAR) as at the end of FY24 stands at 14.28%. Share of Alternate Channels in total transactions increased from ~96.9% in FY23 to ~97.8% in FY24.

Q3FY24 Quarterly & 9MFY24 Result Announced for State Bank of India

State Bank of India announced Q3FY24 & 9MFY24 results: Profitability: Net Profit for 9MFY24 at Rs 40,378 crore improved by 20.40% over 9MFY23 (Rs 33,538 crore). Net Profit for Q3FY24 at Rs 9,164 crore after accounting for one-time exceptional item of Rs 7,100 crore. Operating Profit for Q3FY24 is at Rs 20,336 crore. Bank’s ROA and ROE for 9MFY24 stand at 0.94% and 19.47% respectively. ROA for Q3FY24 is at 0.62%. Net Interest Income (NII) for Q3FY24 increased by 4.59% YoY. Whole Bank NIM for 9MFY24 decreased by 1 bp YoY to 3.28% while Domestic NIM for 9MFY24 decreased by 8 bps YoY to 3.41% Balance Sheet: Credit growth at 14.38% YoY with Domestic Advances growing by 14.47% YoY. Corporate Advances and SME Advances cross Rs 10 lakh crore and 4 lakh crore respectively. Foreign Offices’ Advances grew by 13.90% YoY. Domestic Advances growth driven by SME Advances (19.24% YoY) followed by Agri Advances which grew by 18.12% YoY. Retail Personal Advances and Corporate loans registered YoY growth of 15.28% and 10.71% respectively. Whole Bank Deposits grew at 13.02% YoY, out of which CASA Deposit grew by 4.48% YoY. CASA ratio stands at 41.18% as on 31st December 23. Asset Quality: Gross NPA ratio at 2.42% improved by 72 bps YoY. Net NPA ratio at 0.64% improved by 13 bps YoY. PCR (Incl. AUCA) stands at 91.49%. Provision Coverage Ratio (PCR) at 74.17% declined by 195 bps YoY. Slippage Ratio for 9MFY24 improved by 5 bps YoY and stands at 0.67%. Slippage Ratio for Q3FY24 increased by 17 bps YoY and stands at 0.58%. Credit Cost for Q3FY24 remained flat YoY at 0.21%. Capital Adequacy: Capital Adequacy Ratio (CAR) as at the end of Q3FY24 stands at 13.05%. Alternate Channels: Share of Alternate Channels in total transactions increased from ~97.2% in 9MFY23 to ~97.7% in 9MFY24.