State Bank of India (SBI) on Thursday posted a standalone profit of Rs 16,891.44 crore during the third quarter of FY25, posting a jump of 84.32 per cent in comparison to Rs 9,163.96 crore during the corresponding quarter of FY24. The Net Interest Income (NII) stood at Rs 41,446 crore, up 4.09 per cent YoY. Total income for the quarter in review stood at Rs 1,28,467.39 crore, up 8.69 per cent as against Rs 1,18,192.68 crore recorded during the same period of previous financial year.
The banking major said that the whole bank and domestic NIM for Q3FY25 stood at 3.01 per cent and 3.15 per cent respectively. The Bank’s ROA was recorded at 1.04 per cent for the quarter, posting an increase by 42 bps YoY. For the 9M period, ROA and ROE came in at 1.09 per cent and 21.46 per cent respectively.
Asset quality
SBI reported gross NPA ratio at 2.07 per cent, improved by 35 bps YoY to 2.42 per cent during Q3FY24. Net NPA ratio, meanwhile, stood at 0.53 per cent, up by 11 bps YoY to 0.64 per cent during the same period last year. Slippage ratio for Q3FY25 improved by 19 bps YoY to 0.39 per cent and credit cost for the quarter in review came in at 0.24 per cent. For the nine month period, slippage ratio improved by 8 bps YoY to 0.59 per cent.
Balanc sheet
The banking major reported credit growth at 13.49 per cent YoY with domestic advances growing by 14.06 YoY. Gross Advances crossed Rs 40 lakh crores. Foreign Offices’ advances grew by 10.35 per cent on-year. SBI announced that SME advances grew by 18.71 per cent YoY followed by Agri advances which grew by 15.31 per cent YoY, while Corporate advances and Retail personal advances registered YoY growth of 14.86 per cent and 11.65 per cent respectively. Whole Bank deposits, meanwhile, grew at 9.81 per cent YoY, out of which CASA deposit grew by 4.46 per cent YoY.
Shares of SBI dropped by 1.68 per cent at 3:30 pm to a trading price of Rs 753.25.