The operating profit increased by 15.5 per cent to Rs 30,544 crore from Rs 26,448 while the interest income jumped 6 per cent to Rs 1.18 lakh crore from Rs 1.11 lakh crore.
Expenses increased to Rs 1.04 lakh crore year on year (YoY) from Rs 96,239 crore. (Source: reuters)
SBI Q1 Results: Country’s largest lender State Bank of India (SBI) on Friday reported a 12.5 per cent growth in profit after tax to Rs 19,160 crore for the first quarter (April-June) of the financial year 2024-25 from Rs 17,035 crore during the same period in the previous fiscal, driven by efficiency in operating income and contained operating expenses.
The bank’s total income stood at Rs 1.35 lakh crore during Q1 FY25 from Rs 1.22 lakh crore during Q1 FY25 while total expenses also increased to Rs 1.04 lakh crore year on year (YoY) from Rs 96,239 crore. The operating expenses stood at Rs 27,873 crore vis-a-vis Rs 25,838 crore during Q1 FY25.
The operating profit increased by 15.5 per cent to Rs 30,544 crore from Rs 26,448 crore. The interest income jumped 6 per cent to Rs 1.18 lakh crore from Rs 1.11 lakh crore.
The bank’s return on assets (ROA) improved to 1.14 per cent during the quarter from 1.10 per cent while return on equity (ROE) dropped marginally to 19.70 per cent from 20.98 per cent.
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SBI reported a 47.71 per cent cost-to-income ratio in comparison to 49.42 per cent during the corresponding period last fiscal.
Bank’s asset quality also improved with gross non-performing assets (NPA) ratio at 1.83 per cent from 2.21 per cent during Q1 FY25. The net NPA ratio also dropped to 0.47 per cent from 0.57 per cent.
The provision coverage ratio (PCR) stood at 74.49 per cent.
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SBI’s gross advances grew 12 per cent to Rs 42.54 lakh crore during the quarter from Rs 38.12 lakh crore during Q1 FY25, with 13 per cent growth in retail personal loans to Rs 15.39 lakh crore and also agriculture loans to Rs 3.5 lakh crore. SME and corporate segments also saw 19 per cent and 5.7 per cent growth, respectively.
The public lender’s total deposits increased by 12 per cent from Rs 49.01 lakh crore in Q1 FY25 to Rs 54.73 lakh crore in Q1 FY26.
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