SBI Q2 Results: Net Profit Jumps 28% to Rs 18,331 Crore, NPAs Decline, NII Up 5.37%
Read More: NSE, BSE To Remain Closed On November 20 On Account Of Maharashtra Elections
State Bank of India (SBI) on Friday reported a 28 per cent surge in its net profit to Rs 18,331 crore for the second quarter ended September 2024. It is above market expectations. Its net interest income (NII), the difference between the interest earned and interest expended, rose 5.37 per cent to Rs 41,620 crore in the July-September 2024 quarter.
Read More: NPTC Green Energy IPO likely to open on November 18; check details
Government-owned SBI is the country’s largest lender.
SBI’s gross NPA improved by 42 basis points to 2.13 per cent during Q2 FY25. Its net NPA ratio at 0.53 per cent improved by 11 bps YoY.
Read More: Stock Market Updates: Sensex Slips 300 Points, Nifty Below 24,100; RVNL Falls 6%
Its whole bank deposits grew at 9.13 per cent YoY, out of which CASA Deposit grew by 4.24 per cent YoY. CASA ratio stands at 40.03 per cent as on September 30, 2024.
Credit growth at 14.93% YoY with Domestic Advances growing by 15.55% YoY.
