State Bank of India Reports Sbi Bank Quarterly Results With 14% Profit Jump
State Bank of India announced its latest financial figures, showing a 14% rise in standalone net profit alongside an expanding loan portfolio.
State Bank of India (SBI) released its financial performance figures, showcasing a standalone net profit of Rs 23,038 crore for the second quarter. This marks a 14% increase compared to the same period last year, driven by strong core income and reduced provisions for bad loans.
The latest sbi bank quarterly results reflect broad-based momentum across multiple lending segments and a solid expansion in overall business activities for India's largest public sector lender.
Net Interest Income and Operating Performance
During the reporting period, net interest income advanced by 15% year-on-year to total Rs 49,143 crore. Total interest income grew by 10% to reach Rs 1.32 lakh crore, while interest expenses increased at a slower rate of 8% to Rs 82,876 crore. Operating profit rose by 7% year-on-year to hit Rs 34,226 crore, compared with Rs 31,904 crore previously.
Profitability was further supported by a sharp decline in loan-loss provisions, which fell 33% to Rs 2,759 crore from Rs 4,132 crore recorded a year earlier.
Loan Growth and Asset Quality
The bank's credit expansion was highlighted by gross advances crossing the Rs 52 lakh crore milestone, closing the quarter at Rs 52.08 lakh crore—an 18% year-on-year increase. Domestic advances rose by 17%, while overseas advances climbed 23% in rupee terms. Double-digit growth was observed across agriculture, small and medium enterprises, retail personal advances, and corporate lending portfolios.
Asset quality metrics demonstrated continued improvement. The gross non-performing asset (NPA) ratio decreased to 1.39%, down from 1.73% in the corresponding quarter of the previous year. Similarly, the net NPA ratio dropped to 0.36%, reflecting a healthier balance sheet and a lower provisioning burden.
Deposits and Margins
Total deposits grew by 12% to Rs 62.78 lakh crore, up from Rs 55.92 lakh crore a year earlier. Domestic term deposits recorded a 14% increase, while low-cost current account and savings account (CASA) deposits grew by 8%. The CASA ratio adjusted to 38.32% due to faster growth in term deposits.
Domestic net interest margin improved to 3.11%, marking an increase of 11 basis points sequentially from the June quarter. Meanwhile, the capital adequacy ratio strengthened to 16.09%, up from 14.62% a year earlier, reinforcing the institution's capital position.
Sources: The Economic Times, The Economic Times, BusinessLine, Rediff.
Frequently asked questions
What was SBI's standalone net profit in the second quarter?
How did the net interest income perform during the quarter?
What happened to SBI's gross advances and loan book?
How did the bank's asset quality change?
Related stories
NASA Team Restores Communication With Voyager 1 After Brief Signal Loss
NASA engineers successfully re-established contact with voyager 1 following a brief forty-eight-hour communication pause as the historic probe approaches a major distance…
Indian Stock Market Rallies as BSE Sensex Climbs Over 1,200 Points
Indian equities extended their winning streak as the bse sensex surged over 1,200 points, lifted by softer oil prices and renewed investor confidence.
John Ternus Faces First Wall Street Test as Aapl Q4 Profit Grows
Apple reported a 12 percent profit increase for the fourth quarter as new CEO John Ternus led his first earnings call and discussed upcoming guidance.
Microsoft 25 Billion Bond Sale Moves Forward Amid Rising AI Costs
Microsoft has priced a massive debt offering following voluntary staff exit packages, aiming to fund capital expenditure and heavy AI infrastructure costs.