SBI Registers Net Profit At Rs 14,330 Cr, Grows 8.03% YoY

Net Profit of State Bank of India(SBI) has stood at Rs 14,330 crore and has grown by 8.03 per cent year on year(YoY).

The operating profit for Q1 FY24 was Rs 25,297 crore which has seen a steep decline to Rs 19,417 crore, showing a decrease of 23.25 per cent on a quarter-on-quarter (QoQ) basis.

Gross advances in September 2023 stood at Rs 34,11,252 crore which compared to the previous year was Rs 34,11,252 crore, showing a growth of 12.39 per cent.

Deposits stood at Rs 46,89,218 in September 2023 which were Rs 41,90,255 crore in the previous year, growing at 11.91 per cent on a YoY basis.

Deposits on a QoQ basis have shown a slight growth of 3.49 per cent as compared to the previous quarter.

Gross Non- non-performing assets(GNPA) have stood at Rs 86,974 crore which was Rs 1,06,804 crore in the previous year in September, depicting a decline of 18.57 per cent on a YoY basis.

The bank’s return on assets(RoA) and return on equity (RoE) for the half year have stood at 1.10 per cent and 22.57 per cent respectively.

Credit growth is at 12.39 per cent YoY with domestic advances growing by 13.21 per cent YoY. Domestic advances growth is driven by SME advances (22.75 per cent YoY) followed by retail. 

Personal advances have grown by 15.68 per cent YoY. Foreign office advances have crossed Rs 5 lakh crore. Agri and corporate loans registered YoY growth of 14.76 per cent and 6.62 per cent respectively.

Whole Bank Deposits has grown at 11.91 per cent YoY, out of which current account savings account (CASA) deposits have grown by 4.91 per cent YoY.

CASA ratio stands at 41.88 per cent as of 30 September 23.

Capital adequacy ratio (CAR) as at the end of  Q2 FY24 improved by 77 bps YoY and

stands at 14.28 per cent. Net NPA ratio is at 0.64 per cent improved by 16 bps YoY.

Provision Coverage Ratio (PCR) improved by 39 bps YoY and stands at 91.93 per cent. PCR is at 75.45 per cent declined by 248 bps YoY.

The slippage Ratio for H1 FY24 improved by 16 bps YoY and stands at 0.70 per cent.

Slippage ratio for Q2FY24 increased by 13 bps YoY and stands at 0.46 per cent. Credit Cost for Q2 FY24 improved by 6 bps YoY to 0.22 per cent.