The State Bank of India (SBI)’s Q1FY25 net profit came in flat at Rs 17,035 crore. This is slightly higher than the Q1FY24 net profit of Rs 16,884 crore.
SBI’s net interest income during the quarter climbed 5.7% YoY to Rs 41,125 crore.
The largest PSU bank clocked Q1FY25 total income of Rs 1,22,688 crore, up 13.5% from Rs 1,08,039 crore a year ago. The bank’s interest income also grew to Rs 1,11,526 crore, compared to Rs 95,975 crore in the previous year.
The bank’s gross non-performing assets (NPA) as a percentage of total advances improved to 2.21% from 2.76% at the end of June last year. Net NPAs also decreased to 0.57% from 0.71% over the same period.
On a consolidated basis, SBI’s net profit edged up to Rs 19,325 crore, compared to Rs 18,537 crore in the same quarter of the previous fiscal year. Total consolidated income increased to Rs 1,52,125 crore, up from Rs 1,32,333 crore a year earlier.
SBI Q1 FY25 Results – Highlights
Profit
-Net Profit at Rs 17,035 crore
-ROA is at 1.10% for Q1FY25
-ROE is at 20.98% for Q1FY25
-Whole Bank NIM is at 3.22% for Q1FY25
-Domestic NIM is at 3.35% for Q1FY25
-Credit Growth continues at approximately 15.39% year-on-year
-Whole Bank advances cross Rs 38 trillion
Asset Quality
-Gross NPA is at 2.21%
-Net NPA is at 0.57%
-Credit Cost for Q1FY25 is at 0.48%