India’s Largest Public Sector Bank – State Bank of India (SBI) has released its financial results for the September 2024 Quarter (Q2FY25). Check the important highlights below and download the PDF via the link given below.
Profitability:
- Net Profit for Q2FY25 reached ₹18,331 crores, reflecting a YoY growth of 27.92%.
- Operating Profit for Q2FY25 grew by 50.87% YoY, totaling ₹29,294 crores.
- The bank’s Return on Assets (ROA) and Return on Equity (ROE) for the half-year stood at 1.13% and 21.78%, respectively.
- For the quarter, ROA increased by 16 basis points YoY to 1.17%.
- Net Interest Income (NII) for Q2FY25 saw a 5.37% YoY increase.
- The bank’s Whole Bank and Domestic Net Interest Margins (NIM) for the half-year stood at 3.18% and 3.31%, respectively.
- For Q2FY25, Whole Bank NIM was 3.14% and Domestic NIM was 3.27%.
Balance Sheet:
- Credit growth was 14.93% YoY, with Domestic Advances growing by 15.55% YoY.
- Advances from Foreign Offices increased by 11.56% YoY.
- Domestic Advances growth was driven by Corporate Advances (up 18.35% YoY) and Agri Advances (up 17.67% YoY).
- SME and Retail Personal Advances registered YoY growth of 17.36% and 12.32%, respectively.
- Whole Bank Deposits grew by 9.13% YoY, with CASA Deposits increasing by 4.24% YoY. The CASA ratio stood at 40.03% as of September 30, 2024.
Asset Quality:
- Gross NPA ratio improved by 42 basis points YoY, standing at 2.13%.
- Net NPA ratio improved by 11 basis points YoY, reaching 0.53%.
- Provision Coverage Ratio (PCR), including AUCA, improved by 28 basis points YoY to 92.21%. PCR, excluding AUCA, stood at 75.66%, up by 21 basis points YoY.
- The Slippage Ratio for H1FY25 improved by 2 basis points YoY, standing at 0.68%. The Slippage Ratio for Q2FY25 increased by 5 basis points YoY to 0.51%.
- Credit Cost for Q2FY25 was 0.38%.
Capital Adequacy:
- The Capital Adequacy Ratio (CAR) at the end of Q2FY25 was 13.76%.
Alternate Channels:
- 61% of SB accounts were acquired digitally through YONO.
- The share of Alternate Channels in total transactions increased from approximately 97.7% in H1FY24 to around 98.2% in H1FY25.
- Also Read: Net Profit of all Banks in June 2024 Quarter, Check Bank wise list
- Also Read: Net Profit of all PSU Banks in 2023-24, Check Here
- Also Read: Net Profit of all Private Banks in 2023-24, Check Here
