State Bank of India (SBI), the country’s largest lender, announced a modest rise in its net profit for the first quarter of the current financial year. The bank reported a 0.89% increase in net profit to ₹17,035 crore. However, on a sequential basis, the profit fell by 17.7%.
Key Financial Highlights
- Net Profit: ₹17,035 crore (up 0.89% year-on-year)
- Operating Profit: ₹26,449 crore (up 4.55% year-on-year)
- Net Interest Income (NII): ₹41,125 crore (up 5.71% year-on-year)
- Return on Assets (ROA): 1.10%
- Return on Equity (ROE): 20.98%
- Whole Bank Net Interest Margin (NIM): 3.22%
- Domestic NIM: 3.35%
Asset Quality
- Gross Non-Performing Assets (NPA): 2.21% as of June 30, improved from 2.24% as of March 31, 2024
- Net NPA: 0.57% as of June 30, unchanged from March 31, 2024
- Gross NPAs in Absolute Terms: ₹84,226.04 crore
- Net NPAs in Absolute Terms: ₹21,554.69 crore
Provision Coverage and Credit Costs
- Provision Coverage Ratio (PCR): 74.41%
- PCR (including AUCA): 91.76%
- Slippage Ratio: 0.84%
- Credit Cost: 0.48%
Deposit and Advances
- Total Deposits: ₹49.02 lakh crore (up 8.18% year-on-year)
- Domestic CASA Deposits: ₹19.15 lakh crore (up 2.59% year-on-year)
- Domestic Term Deposits: ₹27.9 lakh crore (up 12.20% year-on-year)
- CASA Ratio: 40.70% as of June 30, down from 42.88% a year ago
| Metric | Q1 FY25 | Previous Quarter | Previous Year |
|---|---|---|---|
| Net Profit | ₹17,035 crore (up 0.89%) | ₹20,683 crore | ₹16,908 crore |
| Operating Profit | ₹26,449 crore (up 4.55%) | ₹25,274 crore | ₹25,327 crore |
| Net Interest Income (NII) | ₹41,125 crore (up 5.71%) | ₹39,174 crore | ₹38,905 crore |
| Return on Assets (ROA) | 1.10% | 1.21% | 1.14% |
| Return on Equity (ROE) | 20.98% | 22.18% | 21.65% |
| Whole Bank Net Interest Margin (NIM) | 3.22% | 3.30% | 3.15% |
| Domestic Net Interest Margin (NIM) | 3.35% | 3.45% | 3.28% |
| Gross NPA Ratio | 2.21% | 2.24% | 2.76% |
| Net NPA Ratio | 0.57% | 0.57% | 0.71% |
| Gross NPAs (Absolute) | ₹84,226.04 crore | ₹84,276.33 crore | ₹91,327.84 crore |
| Net NPAs (Absolute) | ₹21,554.69 crore | ₹21,051.08 crore | ₹22,995.37 crore |
| Provision Coverage Ratio (PCR) | 74.41% | 75.00% | 72.00% |
| PCR (including AUCA) | 91.76% | 91.50% | 89.00% |
| Slippage Ratio | 0.84% | 0.94% | 0.90% |
| Credit Cost | 0.48% | 0.50% | 0.55% |
| Total Deposits | ₹49.02 lakh crore (up 8.18%) | ₹49.12 lakh crore | ₹45.31 lakh crore |
| Domestic CASA Deposits | ₹19.15 lakh crore (up 2.59%) | ₹18.75 lakh crore | ₹18.65 lakh crore |
| Domestic Term Deposits | ₹27.9 lakh crore (up 12.20%) | ₹27.88 lakh crore | ₹24.90 lakh crore |
| CASA Ratio | 40.70% | 41.11% | 42.88% |
SBI’s performance highlights a stable financial position with improvements in asset quality and strong growth in deposits and advances. Despite a slight drop in profit on a sequential basis, the bank’s overall health remains robust with notable increases in net interest income and operating profit