The State Bank of India (SBI) stock witnessed a surge of over 2% in trading on the back of robust fourth-quarter results that exceeded market expectations. The country’s largest lender reported a staggering net profit of Rs 20,698 crore, surpassing street estimates of Rs 16,695 crore.
SBI’s net interest income (NII), a key profitability metric, stood at an impressive Rs 41,655 crore, outperforming the street estimates of Rs 40,393 crore. The bank’s strong performance can be attributed to its efficient operations and effective management of resources.
The bank’s fourth-quarter results have been well-received by investors, as evidenced by the rally in its stock price.
As of 1:50 pm, SBI shares were trading 1.77% higher at ₹825.15 on the National Stock Exchange (NSE).
SBI’s exceptional financial performance is a testament to its resilience and ability to navigate through challenging economic conditions.
