India's biggest public sector lender, State Bank of India on Thursday reported a marvelous 84.32 per cent jump in net profit on a year ago basis at Rs 16,891 crore for the October-December quarter (Q3 FY25) from Rs 9,164 crore. Profit was helped by higher core income during the quarter.
Net interest income, or core income, rose 4.09 percent from a year ago and was Rs 41,445.5 crore, the bank said in a filing to the stock exchange, versus Rs 39,816 crore.
The gross NPA ratio improved to 2.07 per cent as on December 31, 2024, against 2.13 per cent in the September quarter. On a sequential basis, the net NPA ratio remained unchanged at 0.53 per cent as on December 31, 2024.
The ROA and ROE for the nine months of this fiscal (FY25) stood at 1.09 per cent and 21.46 per cent, respectively.
Employee expenses decreased by 17 per cent to Rs 16,074 crore and the domestic loans of SBI increased 14.06 per cent from the previous year.
Provisions increased 32.4 percent from last year at Rs 911.06 crore.
Operating profit for Q3 FY25 increased by 15.81 percent YoY to Rs 23,551 crore.
The SBI reported credit growth at 13.49 per cent YoY with domestic advances growing by 14.06 per cent while gross advances crossed Rs 40 lakh crore (year-on-year).
Whole bank deposits grew at 9.81 per cent (on-year), out of which, Current Account Savings Account (CASA) deposits grew by 4.46 per cent YoY. CASA ratio stood at 39.20 per cent as on December 31.
While advances at the foreign offices went up by 10.35 per cent, advances at the SMEs went up by 18.71 per cent. Agri advances were next, growing 15.31 per cent; corporate advances and retail personal advances witnessed growth of 14.86 per cent and 11.65 per cent, respectively.
Shares at the bank traded at Rs 752.2, marking a dip of 1.81 per cent, after Q3 results.
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