State Bank of India, the largest public sector lender in India, posted 27.92 per cent year-on-year growth in net profit at Rs 18,331 crore during the July-September quarter of the current fiscal.
The operating profit shot up 50.87% to Rs 29,294 crore on a year-on-year basis.
The ROA of SBI for half year (H1 FY25) and the RoE for the same period stood at 1.13 per cent and 21.78 per cent, respectively.
SBI's Q2FY25 net interest income (NII) increased by 5.37 per cent from the corresponding period of the previous year, it said.
The gross NPA ratio stood at 2.13 per cent and improved by 42 bps YoY while net NPA ratio at 0.53 per cent improved by 11 bps YoY, said the bank in its financial result.
The credit growth came at 14.93 per cent in the quarter, with domestic advances growing by 15.55 per cent YoY. The lender had total deposits of Rs 51,17,284 crore in the September quarter, up 9.13 per cent from Rs 46,89,218 crore in the September quarter last fiscal.
Domestic CASA deposits increased by 4.24 percent while domestic term deposits increased by 12.51 percent. CASA ratio stood at 40.03 percent, as on September 30.
Accordingly, according to SBI, SME and retail personal advances loans registered YoY growth of 17.36 per cent and 12.32 per cent, respectively in the quarter. While 61 per cent of SB accounts were acquired digitally through the YONO digital banking platform, the share of alternate channels in total transactions increased from 97.7 per cent in H1 FY24 to 98.2 per cent in H1 FY25.
According to the bank, Slippage Ratio for H1 FY25 improved by 2 bps YoY and stood at 0.68 per cent. Slippage Ratio for Q2 FY25 increased by 5 bps YoY and stood at 0.51 per cent. Capital Adequacy Ratio as at the end of Q2FY25 stood at 13.76 per cent. The stock of SBI was down 2.3 per cent at Rs 839.70 apiece during the intra-day trade.
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